Today’s do-it-yourself mindset has led to many new business owners to handle many legal matters on their own without the assistance of an attorney. While there are many websites that offer seemingly affordable legal document preparation and filing assistance, these alternatives are rarely suited to helping you if your business runs into a serious legal problem. Knowing why you might need a business attorney may help you make a decision that ensures the long-term success of your business venture.
Help Deciding the Right Business Type
Preparing documents is not the only thing a qualified business attorney will do for you; your attorney will also help you decide what business type is best for you. During the incorporation stage of your venture, knowing what type of legal set-up you actually need will help you avoid wasting valuable time and money. A lawyer can tell you whether or not you need to register as a corporation, LLC, or other business entity, ensuring you are not making multiple changes to your structure because of startup errors.
Damage Mitigation
Every business has 36 to 53% chance of being sued and few business owners are truly prepared to deal with the consequences associated with litigation. Lawsuits can be filed against you at any point by a business partner, client, employee, your competition, or even a vendor. Even if the reason for the lawsuit seems frivolous to you, having a lawsuit filed against you could easily cost you a lot of money regardless of the outcome. Having an attorney who has represented your business before the suit was even filed means that you already have legal protections in place to reduce potential damages along with representation during the lawsuit.
Ensure Compliance
Laws applicable to business owners on a federal and local level are constantly changing. Without an attorney to advise you, it is surprisingly easy to violate operating laws that were created after you started your business or changed after your business was already operating. It is almost impossible for a business owner who is already focused on keeping a company running on a daily basis to constantly check state and federal business laws for changes that could affect legal compliance. Having a dedicated attorney reduces your chances of being blindsided by new rules or failing to comply with complicated rules that you are not implementing properly.
Benefit from Being Proactive
Finding yourself the target of a business related lawsuit or being accused of violating a law is overwhelming and extremely upsetting. The legal team at Resnick Law P.C. is here to alleviate your burden and make sure your business has the legal protection it needs. Our full-service law firm is able to represent you in a variety of business related situations including contract negotiating, buying or selling a business, collecting on unpaid accounts, and more. We take pride in offering our clients cost-effective counsel that focuses on your unique needs. Contact us to schedule a consultation at one of our two offices so that we can begin answering your questions and helping with your business’s legal needs.
(image courtesy of Alexandre Godreau)
