10 Times Your Business May Need To Hire A Lawyer
Almost all companies occasionally run into situations where they need legal support. This could be for something as simple as writing up a contract or something as challenging as defending oneself against a lawsuit. Below are 10 examples of times when you may want to consider hiring a lawyer.
#1 Choosing your business structure
When launching your business or when scaling up, it may be worth talking to a lawyer about choosing a legal structure. Are you better running your business as a sole proprietor, partnership, corporation or LLC? Each has their tax and liability advantages and disadvantages. A lawyer can help you make the right choice.
#2 Drafting and reviewing contracts
Vendor agreements, leases, partnership deals and customer contracts all carry risk. A lawyer can help you to create these documents, making sure that they have clear terms and no loopholes. They can also help you read over contracts created by other parties, helping you to spot any issues before signing.
#3 Hiring, firing and managing employees
From employee contracts to handbooks, employment law contains many complex components. Consulting a lawyer is recommended before making any major staffing decisions so that you can make sure all the red tape is in place and all necessary protections have been put in place. It’s particularly worthwhile for sensitive actions like firing employees where a misstep could lead to a wrongful termination lawsuit.
#4 Handling workplace disputes
Conflicts with employees, contractors or even co-founders can escalate fast. A lawyer can help you to resolve a dispute before it gets nasty by helping you explore negotiation strategies. If a legal claim is filed, a lawyer can meanwhile help you with mediation and settlement, potentially preventing it from reaching the courtroom.
#5 Managing customer and vendor disputes
You may also find yourself in disputes involving customers and vendors, which could be related to late payments, damaged goods, missed deadlines or quality issues. Legal guidance can help you to make the right moves, helping you to know when to take formal action and when to walk away.
#6 Maintaining regulatory and safety compliance
There are many different safety regulations that businesses have to follow. These vary depending on the size of a company, location and industry. Lawyers can help guide you through these regulations and help you to stay compliant to avoid fines and sanctions.
#7 Leasing or buying property
It could also be worth hiring a lawyer when reviewing a new office lease. When buying commercial property, you’ll almost certainly need a conveyancer to handle all the legal paperwork and to help you explore zoning and use restrictions. When terminating a lease or selling a property, you should also get legal help.
#8 Dealing with work vehicle accidents
If your company uses vehicles or manages a fleet, be wary of legal consequences of an accident. Injury claims, insurance disputes and regulatory questions often follow these incidents. Legal support services like the Academy of Truck Accident Attorneys are worth consulting.
#9 Protecting your brand and creative work
When it comes to trademarking your brand, making a copyright infringement claim or patenting an invention, you’ll likely want to hire an intellectual property lawyer. They can help prevent someone from stealing your ideas or trying to misuse your name or logo.
#10 Planning for growth, sale or succession
Finally, it’s also worthwhile hiring a lawyer when taking on investors, thinking about mergers, acquiring other businesses or planning your exit. Lawyers will help you to make sure everything is done properly and professionally, protecting you and your business.
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