Do I Really Need A Lawyer For My Business?

Business Law, Corporate, Northbrook Attorney

Hiring a lawyer for your business comes with high costs, so small business owners may think it unnecessary or too much of an expense to have or retain one. However, the fact is that at some point or another in running your business, you will need an attorney. It is not uncommon for small businesses to get sued or involved in legal proceedings that require representation. In such a case, how then do you determine what exact type of lawyer you need and how they can help your business? This article covers these, as well as the factors to consider concerning your business and the law.

Why You Need A Lawyer for Your Business

In setting up and running a business, specific legal requirements apply. For example, you will need to understand what business structures fit your startup and the implications of choosing each type. While it is okay to make these decisions, you may have questions about liability, taxes, and impact. A lawyer is best suited to determine the most optimal structures for your long-term goals. For specific business structures, you may need to file documents with the state. (this is compulsory for setting up a corporation or a limited liability company) Your attorney would be responsible for doing this, helping you structure necessary bylaws, operations agreements, and issues regarding trademarks and patents. Employee and vendor agreements will also need to be written in accordance with labor laws. Risking a do-it-yourself approach with such technicalities may lead to more significant trouble than you can handle. To be on the safer side and not end up on the wrong side of the law, an attorney is your best bet.

What type of Attorney do you need for your Business?

Different situations come up in businesses for which legal representation is necessary. Your attorney of choice will depend on the problem at hand. Notwithstanding, an appropriate option must be a lawyer with business law experience. Here are some instances for which your business is sure to benefit from different attorney types:

Drawing up Contracts

If your business operations require a lot of contracts, you need someone with expert knowledge of technicalities. Rather than having to troubleshoot unnecessary requirements and problems from mistakes in contracts, it is best to have an attorney who can draw up simplified terms of agreement for you.

Employee Agreements

Businesses with employees need to have an attorney with employee and labor law knowledge. Issues around discrimination, workers’ compensation, or employment terminations can be avoided if necessary guides exist for the workplace. Failing to do this can have strong legal implications for your business as federal and state laws exist that push hard on business owners with such problems.

Mergers and Acquisitions

Mergers and acquisitions are very complicated processes. It is practically impossible to have a seamless experience without an expert business attorney looking after your interests. There is more than meets the eye with such agreements, and it is wise to have an attorney with this specific experience.

Expert attorneys are a necessity for any growing business. Issues around intellectual property, copyright, patents, and tax laws may arise at any time, and it is best to have the legal expertise to quell them. No matter the situation, the law offices of Hecht Schondorf have the expertise to help straighten out issues and represent your business in the best light. Do reach out for a consultation today.