When you own your own small business, you accept that risk and worry are a package deal. At some point, you’ll probably start wondering whether you need to hire a business attorney.
Frankly, most small business owners put off developing a relationship with an attorney because they’re hesitant to spend the money — or maybe they feel like they’re just asking for bad luck! In reality, however, a lawsuit is almost inevitable. Statistically speaking, anywhere between 36 percent and 53 percent of all businesses end up in litigation every year. The best way to defend against a lawsuit is to try to prevent it before it starts.
Smart legal advice can protect your growing business. An attorney can:
- Help you spot a discrimination lawsuit in the making by examining how you conduct your interviews and what’s written in your employee handbook
- Enable you to fire “problem” employees without fear of serious legal repercussions later
- Research applicable laws and guidelines surrounding the formation of your business and help ensure that you are compliant with existing licensing and tax regulations — especially if you decide to incorporate
- Guide you through contract negotiations with potential employees or potential partners — and keep you from making a mistake that will later cost you
- Advise you on how to craft a noncompete agreement that won’t be overturned in court for being too restrictive
- Help you understand what you can do if you need to get out of an existing contract or the other party isn’t upholding his or her end of the bargain
- Guide you through perilous contract negotiations with another company, including your suppliers and distributors
- Help you handle the fallout if your company falls victim to fraud or a data breach (which could put you in a perilous legal position with your customers)
Hiring a business attorney is a sound investment — and a smart business strategy. It’s far more cost-effective to be proactive and prevent a lawsuit than it is to defend against one later. If you’re hoping to build a lasting relationship with a business attorney who cares about your future, our firm is here to help.