For a business to function smoothly and professionally, legal guidance from an experienced lawyer may be needed at certain junctures, even if only to reassure business owners that they’re making the right decisions.
Below are 10 circumstances in which advice from an experienced lawyer can help:
- When dealing with any legal matter
Often highly delicate, legal matters such as your business being sued, for example, should never be taken lightly and usually warrant legal assistance.
- Registering a business
All new enterprises must be registered with the relevant local authorities. The process involves gaining clearance from several departments and administrations. Without legal guidance, gaining such clearance may be troublesome and complex.
- Expanding a business
Expanding your business may seem simple, but there may be legal formalities involved (especially if you plan to launch a new range of products or services), that if missed, could cost you dearly.
- Handling legal documents
Closing your business for any reason or making changes to the existing business structure must be documented officially and legally. With a business lawyer by your side, this process becomes effortless.
You may also need to draft contracts and other legally binding documents. An experienced legal professional can make sure that it’s done correctly and in accordance with all relevant laws.
- Protecting a business
Calculated risks are part and parcel of running a business, but knowing whether certain risks are worth taking is easier and a lot less stressful with proper legal guidance.
- Managing contracts
From time to time, a business may encounter contractual disputes which, if not dealt with appropriately, can be costly for a company. Guidance from an attorney can help you to avoid expensive and potentially reputation-ruining lawsuits.
- Protecting intellectual property
When choosing a trademark and logo to serve as your company’s identity, it’s wise to do so with caution so that you can avoid potentially infringing on another’s copyright. A legal professional can help you avoid a copyright lawsuit.
- Dealing with employee issues
Issues with existing, former or prospective employees are always best resolved swiftly and professionally. Should a matter go unresolved or not be dealt with appropriately, the situation can quickly become very serious and may even end in a lawsuit.
- Drafting policies, terms and conditions
Often lengthy and complex, privacy policies and terms and conditions documents can be highly beneficial to a company. These documents are essential in helping customers understand how your services may be used, as well as in ensuring that your company’s interests are protected. As such, they must be drafted with careful consideration. Seeking legal guidance is the best way to make sure this happens.
- Equity
Determining the value of your business is vital for its economic growth. A lot of companies use Initial Public Offerings (IPOs) to allow investors to buy equity in the company. However, this is a delicate and sensitive process that demands all documents involved be legally sound. Hiring a legal professional to help you conduct research will be invaluable.
Businesses can quickly get themselves into a legal quandary without the proper guidance and support. The longer some legal issues are left unresolved, the more likely they are to end in a lawsuit. Protect the rights and reputation of your business by working closely with corporate lawyers, and rest assured your investment will prove its worth.