Menu Close

The Advantages Of Hiring A Business Lawyer

If you own a business, there are two professionals that you need to hire- a business-savvy lawyer and an accountant. You need an accountant to prepare your tax returns, set up your chart of accounts, and review your numbers periodically. Hiring a business attorney is also very important. A business lawyer will help you with the legal aspects of your business. Here are the advantages of hiring a viable business attorney. Keep You Out of Trouble -Some business owners put off hiring an attorney until they get sued. This is a bad mistake. The time to hire a business lawyer is before you get served with a summons. Keep in mind that the fee an attorney will charge to keep you out of trouble is a lot lower than what he will charge to get you out of serious trouble. Prepare the Necessary Paperwork -A business attorney can help you prepare contracts. He can help you decide whether a limited liability company or corporation is the better way to organize your business and he will prepare the necessary paperwork. Charge Affordable Rates -Many business lawyers charge affordable rates. They usually charge a per diem or hourly rate. Some attorneys charge flat fees for routine matters, such as closing a loan or reviewing a contract. For lawsuits and complex matters, some attorneys work on a contingency basis. This means that if you succeed, they will receive a percentage of the proceeds—usually between 20 percent and 45 percent. Help You with Difficult Tasks -An attorney will understand your business quickly. What is your comfort level with legal matters and contracts? A qualified attorney can handle all your business needs. Certain tasks are easy to complete such as drafting an independent contractor agreements. However, other tasks can be more difficult for business owners. An experienced attorney can help you with difficult tasks such as hiring and firing employees. Prevent Conflict with Your Business Partners -If you are planning to start a business with someone else, a business attorney will protect your interests. If you have an agreement that sets out each person’s responsibilities and expectations, you may avoid many problems in the future. Resolve Matters That Pertain to Your Customers -If you will enter into contracts with your customers, your attorney can draft them to keep you out of trouble. Your business attorney can also help you when your customers stop paying you. In the event of a dispute with a customer, a skilled business attorney will help you resolve the matter quickly. Resolve Matters That Pertain to Your Employees -Your business attorney can help you with matters that pertain to your employees. For instance, he can make sure that your employment applications don’t contain any discriminatory questions. He can also draft any employment agreements that are necessary. Make Sure You Stay in Compliance With Laws -Without an attorney, you may not understand how the laws affect your business. A business attorney will make sure you stay in compliance with the laws that are applicable to your business. As a business owner, you will need to comply with the laws on everything from employment practices to business filings. With all the legal issues that arise in business, it’s important to establish a relationship with a qualified business lawyer!