Operating a business is not for everyone, with that being said those who do take the plunge successfully in the opening and running of private entities often wonder if what they are doing requires guidance or assistance from a business lawyer? Most business owners believe that an attorney requires high fees and exponential billing by the hour and unfortunately most small businesses find themselves hiring an attorney only after a problem has occurred. Usual issues consist of a breach of contract, fraud, embezzlement, and other occurrences. What small business owners don’t take into consideration is seeking counsel earlier in the process will typically prevent the most common legal issues that small-medium businesses come to face.
Now you may not need to consult with an attorney with every issue that arises, but using an attorney when necessary will surely save you time and money on the front end should you run into problems with employees, suppliers, and other shareholders(Partners). All of which usually come by way of a signed contract. Below we will describe issues you can handle on your own and when you may want to get an attorney involved.
Issues You Can Take Care Of On Your Own
The following list describes tasks business owners should attempt to handle on their own working them out in house:
- Documenting LLC meetings
- Hiring independent contractors and vendors
- Handling audits
- Writing a business plan
- Choosing an appropriate business name
- Reserving a domain name for your businesses website
- Applying for the necessary licenses
- Hiring and conducting interviews with the necessary staff
Now this list may not have covered every business issue that doesn’t require an attorney, depending on certain circumstances any issue can quickly become a legal matter. Furthermore, if you do have that notion and issues rise to a legal matter, consulting with an experienced business attorney is always a good idea.
Issues Where A Business Lawyer Needs To Be Involved
Most savvy business owners can handle the previously mentioned issues. However, there may come a time when the business faces potential liability issues, complexing the right route to take. Below are a few examples where hiring a business attorney will prove to be extremely helpful:
- Any previous or current employee suing on grounds of descrimmination, firing, hostile work environment
- Drafting contracts for employees, customers, and vendors
- Local officials investigating your business for violation of any laws
- Creating legal partnership agreements, shareholder agreements, and operating agreements
- Mergers and acquisitions ( the buying or selling of entities)
- Any environmental issues from the state
- Updating any agreements
One of the easiest ways to protect your business legally is to get in touch with an attorney at the inception of your business and create a consultation agreement with an attorney you trust. This agreement will allow you to do a significant portion of the research while still receiving the legal guidance that will be key to your success from a business perspective. There are two common situations that the lawyers at Enara Law PLLC see that could have been easily prevented if a business utilized an attorney. Please give the business attorneys a call today at 602-687-2010 or email us at [email protected].