There is a significant amount that goes into starting a business. However, most startups forget about the fact that starting a business is not limited to just the basics like manufacturers, retailers, and wholesalers. There are legal aspects that need to be taken into account.
The problem here is that most business owners don’t consider the legal risks of starting a business. Though a business may be a startup there are still potential legal issues that could take place.
Importance Of A Business Lawyer
Small business owners are highly susceptible to legal issues. Most startups don’t have an HR department on staff or an employee that fully understands all employment laws. This could quickly get the startup into trouble.
Understandably, most startups can not afford to have a business lawyer immediately. However, businesses need to understand that mistakes can have long term consequences. Having a business lawyer or even a legal consultant can help ensure that an organization is abiding by their state’s laws and regulations.
A business lawyer not only helps protect the business, but also helps if an employee is injured at your facility. For example, let’s say you have a small startup in Boca Raton, FL and an employee slips and falls after you’ve just mopped. You would likely want to hire the best workers’ comp lawyers in Boca Raton that you can find to help protect your business. If you already have a relationship with a law office, the entire situation could be more easily handled.
How Can Lawyers Help You With Your Startup Business?
Businesses use lawyers like plumbers and firefighters. They only call them when there is a problem. When you are starting a business, there are so many things to focus on that the legal aspect of the business might be at the end of the priority list. Having a lawyer on retainer can help lessen the chance of legal harm.
Here are a few ways in which a lawyer can help you protect your business.
1. Corporate Governance
As the business grows, you might find yourself in a complex situation where you need the expert advice of a For instance, you might need a legal counsel to help you:
- Maintain the company’s corporate status
- Holding periodic legal-based meetings
- Elect officers
- Complying with legal requirements
2. Preparing Customer Agreements
Most businesses craft their own agreement to use with customers. There is nothing wrong with that. However, if you are not certain that your contract isn’t missing any critical points which can be used against you by your customers, it’s wise to seek legal advice.
Having a business lawyer can ensure the agreements issued to customers don’t have any loopholes. This helps protect the business and helps mitigate additional legal fees.
3. Employee Issues
Sometimes problems arise from inside an organization. There have been countless cases of employees filing lawsuits against their employers for various reasons. Business lawyers can provide mediation and try to solve the problem before it becomes worse.
A lawyer can help the business understand the employees rights and confirm if any rights have been violated.
4. Vendor/Customer Contract Reviews
One of the fatal mistakes businesses make is that they do not review contracts before signing them. This often occurs with vendor agreements and lease agreements. A business lawyer can review and revise contracts as well as ensure that everything is in order.
5. Protect Your Intellectual Property
Most businesses not only have tangible property, but they have valuable intangible property as well. Intangible property includes their brand name, logo, invention, trademark, copyrights, machines, products, and even business processes. The business lawyer can help you secure intellectual property by developing protective strategies.
Hire A Lawyer Today!
It is important to consult with a lawyer at the beginning stages of your business. If you are serious about your startup, you must secure it legally. Even though you might not need to use a lawyer immediately, you may need one down the line and it’s better to be prepared now.