Why Every Business Needs a Lawyer

When you’re starting your own business or even if you’re a seasoned business owner, it can be easy to wonder sometimes how much you really need a business lawyer. Lawyer fees can really add up so it can sometimes be hard to determine when you should hire a lawyer. Thinking about all the legal pitfalls that you and your company could be facing will help you recognize how a lawyer could help your company.

Defend Against Lawsuits

Having a lawyer can be helpful if your company is at risk of a lawsuit. No matter what kind of company you have from a restaurant to a tutoring service, you could be facing legal charges at some point. Because of how complicated and consequential these charges can be, hiring legal counsel is often worth the cost of legal fees.

Even in situations that revolve around smaller amounts of money or smaller charges, you should carefully consider whether or not to get a defense attorney. Sometimes, it may be a better choice to try and settle outside of court and simply pay the plaintiff. However, in many situations, even though the initial charge may be relatively small, if the case goes to court and you lose, you may also have to pay the plaintiff’s attorney fees, court costs, and interest on these costs until they are paid.

Draft and Review Business Documents

When it comes to drafting and reviewing business documents, it’s essential to have a lawyer walk you through the process. Even when it comes to setting up details of your company like your logo and name, having a lawyer help you through the process. In many situations, if a company goes ahead and adopts a certain company name but does so without considering how it could infringe on another’s copyright, they may end up getting sued or having to change their name. This can be a real sucker punch for your business.

Taking the time upfront to have a trademark attorney perform searches to see if your name and logo infringes on others’ business trademarks can make a big difference in the trajectory of your business growth. Then having a trademark attorney file for trademarks for your company can ensure that other companies won’t be able to infringe on your name.

Having a lawyer walk you through this process along with other instances of document drafting can make a big difference in ensuring that your company stays legal and protected. And when it comes to paying for these fees, it’s good to know that drafting lawyers can often be less expensive. Lawyers who review business documents typically charge a flat fee for their services.

Help Avoid Mistakes

If you’re a small business owner just starting out or even if you’ve been running your company for a while, there are some mistakes that you may not even be aware you could be making. For example, you may think you’re filing your taxes correctly but may not be. And what could happen if this is the case? You could end up having the IRS knocking at your door.

Even at the outset, a lawyer can help you make sure that you set up your business with the best business structure to fit your business’s needs and goals.

Ensure You Actually Get Paid

When it comes to a lot of different business transactions, you may experience situations where a client or vendor owes you money and is taking their sweet time to actually pay you. An attorney can walk you through the legal process of implementing the collection of that debt. Often, a lawyer will send an official request for the payment which should usually prompt the debtor to action.

Then, if the official request letter isn’t enough to prompt the debtor to pay, your attorney will know how to counsel you to best proceed and can walk you through the next necessary steps. Ultimately, having an attorney on your side in this sort of situation is essential in order to ensure you get paid.

Deciding whether or not to get a lawyer can be hard. Legal fees can be expensive, and you may not even be aware of the areas of business where you might need a lawyer. Ultimately, there are many other reasons why your company may need a lawyer so do your research.

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08 Dec 2020

By Sebastian Cousin