One day you may sit back and realize your lifelong dream has come true: you started a company and successfully survived the scrappy, often tricky first years of business. Now that things are finally slowing down and getting a bit easier, the fear starts to creep in that all your hard work could disappear one day.
Lawsuits, monetary issues, disgruntled employees, failing to plan for business succession and other legal matters can be the culprit of small to medium businesses taking a turn for the worse. If you’re unsure if a business law-focused lawyer is necessary for your company, you should ask yourself some questions.
Ask yourself if you fit any of the following criteria for a business owner:
- Is your business more than a few employees or considered medium-sized?
- Is it closely-held with only a limited number of shareholders?
- Do you manufacture a product that must comply with strict safety regulations?
- Are you building a structure that people will use?
- Do you own a restaurant?
- Do you own a franchise of branded restaurants?
- Are you a lawyer needing business help for your busy practice?
- Are you a doctor or other professional that branched out on your own?
If your answer to any of these questions is “yes,“ then you might want to consider utilizing a business law-focused lawyer to be your legal counsel. Too many businesses think that having legal counsel is expensive or unnecessary. However, there are cost-effective ways to work with an attorney, such as having legal counsel outside of your business instead of in-house, which saves money but still gives you timely advice and fast turnarounds on legal help.
Trying to resolve business-related matters without an attorney could ultimately cost you more time, resources and energy than you can handle. To protect yourself and stay focused on running your business, it can be wise to lean on an experienced attorney to resolve your legal matters.