7 reasons why your business needs a business lawyer
As a business owner, you start your business hoping that everything will run smoothly, and you will end up running a very successful organisation after some time. Unfortunately, we do not live in a utopian society where every business flourishes. Mistakes happen along the way, issues come up, and chances are that you will inevitably need a business attorney from time to time to help you resolve some legal issue with your business.
Below are 7 reasons why you may need to use the services of a business attorney in your business.
Your business must be structured and organised- whether it will be a partnership, sole proprietorship, corporation or an LLC. You will likely have to comply with several local or national regulations with regards to your company’s formation and running. Also, depending on the type of business you intend on starting, you might also need to get certain permits related to your business, among other requirements.
Incorporating a business involves more than just simply handing over a cheque and getting a certificate. As a business owner, you need someone who understands the process and can complete the whole process without any potential legal implications in the future.
A business attorney will help ensure that you meet all the requirements of your business’ formation, file all the necessary paperwork with the local authorities, prepare many relevant documents related to running your business, such as employment contracts, by-laws, articles of incorporation, and several others.
Additionally, a business attorney can help you navigate the labyrinth of zoning and planning regulations and rules regarding your facilities- and any potential issues that may come up.
- Employment and Labour Issues
Chances are that you have employed some independent contractors or employees in your business. Issues that are related to employees are very common in the workplace, and they may leave you low on money and shorthanded. Nonetheless, in case you have a lawyer at your side, these issues will be quickly resolved since they can simplify the recruitment process, manage your workers’ compensation program, draft up agreements for the independent contractors and safely fire or discipline employees without any legal consequences.
There are several regulations and rules that you must follow in the realm of employment and labour, which can include:
- Wrongful termination
- Fair wages
- Benefits issues
- Agreements and contracts
- Unemployment insurance
- Worker’s compensation insurance
For all the above issues, a lawyer can help you in protecting your business interests.
- Commercial Landlord-Tenant Disputes and Agreements
In case you own a space, and you have rented it out to commercial or residential tenants, you will have to comply with the landlord-tenant laws. Additionally, your business can itself rent the space from a commercial landlord. A lawyer will help you in negotiating a lease for space (for you or even one of your commercial tenants) and will assist you with any disputes that may arise out of that lease.
- Tax Issues
Personal income taxes are high enough, never mind business taxes. It may be very hard for you to understand exactly how much you owe to the tax authorities, and/or any rebates that may be owed to you. Many business lawyers are also trained in matters of tax and they can help you in determining what records you need to keep and also help you in dealing with any tax-related issues which may come up.
- Intellectual Property Issues
Your business may come up with a unique product or service. Your business may also own or should own copyrights, trademarks, and patents. Filing patents is a time-consuming and expensive affair, especially if you do it yourself. Besides, they are usually hard to get them approved in a reasonable amount of time without the assistance of a lawyer.
An attorney who offers IP or trademark registration services will be in a position to help you not only to get intellectual property protections but also help you in enforcing these protections in case someone else or another entity steals or infringes on your hard-earned intellectual property.
- Protections Against Lawsuits
Having a lawyer can help in preventing lawsuits. In case you have already been sued, and you can do not have a lawyer, it might be already too late. A good litigation attorney will help you in reducing the charges. Nonetheless, they cannot entirely protect you from them. You should be proactive before you are sued, get all your legalities in order, and make sure that you cover all your bases.
- Damages Mitigation
A business litigation lawyer can help you in reducing the damages that you may face in case of a lawsuit. For instance, in case you are faced with a personal injury case from a customer or an employer, a litigation lawyer can help you in mitigating any damages. For you to get the best results, it is very imperative that you tell the truth. In case you want an honest litigation lawyer, you need to be an honest client.
Even if the employee got injured because of something that you did, it is much better for the lawyer to know all the facts from you, instead of getting the information from the opposing side’s lawyer.