5 Reasons Every Business Needs A Personal Attorney

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If you are building a business from the ground floor, one of the essential items on your to-do list is to hire an attorney. You may be tempted to skip this step because you watched YouTube videos on how to start your own corporation without a lawyer, but you do not want to find yourself five years from now trying to figure out federal bankruptcy exemptions in the middle of the night because the contracts you wrote yourself did not protect your business from getting sued. Here are five reasons it is a good idea to get help from the experts.

A lawyer will help you prevent lawsuits.
You have workers compensation insurance for all your employees. You have insurance on the building you bought to house your company. Having a lawyer overlook your business dealings and contracts is similar to having an insurance policy. Even though an attorney can’t completely prevent lawsuits from happening, he or she can at least see if any red flags may cause issues at a later date.

A lawyer can help you settle disputes.
As a business owner, you will have many important relationships. You will have a relationship with your employees, vendors, and customers. It is likely that at some point you will have a dispute with one of those entities. If you already have a relationship with an attorney, he or she can jump in immediately and help settle the problems you may be having.

A lawyer can help you write contracts.
As a business owner, you will enter many formal agreements. You will sign a contract with your new employees, your vendors, and your loan officers. Make sure all your deals have your best interest at heart by having a lawyer look over them before you sign. Having a lawyer at your side will also make the other party pause before trying to sneak something sneaky into the contract in the first place.

A lawyer will educate you and your employees.
If you or your employees are following business practices that are not legal, you may be penalized under the law. Ignorance is not an appropriate defense. A lawyer who is familiar with your business’ day-to-day operations will be able to advise you and your employees on how to stay out of the courtroom. Some of the everyday practices that a lawyer may offer advice may include how you interact with employees or clients.

A lawyer will make sure you are complying with state and federal mandates.
Your lawyer would also be able to tell you if your business is complying with state or federal laws. Your lawyer will also help you through tricky situations that come up such as having international customers or selling portions of your company.

Think of all the hours you have spent building your company from scratch. Think of all the sleepless nights you have spent worrying about your business. Are you really willing to risk your company and your employee’s livelihood by not hiring an attorney?