When you run your own business, you carry a lot of responsibility to ensure your company succeeds. You face a lot of challenges when your business is just starting and may sometimes feel overwhelmed. One thing that can help give you peace of mind is to hire outside counsel, an attorney who can advise you on the legal issues you may face.
You may wonder if hiring outside legal counsel for your business is really worth it. However, if you don’t, you likely will see why you shouldn’t have overlooked this important task. You may find yourself in an expensive business dispute sooner rather than later. So, here are six reasons that hiring outside counsel to handle your business’ legal matter is so important:
- A business law attorney can make sure you take the right steps in forming your business, advising you choosing on a business structure and what regulatory compliances your business needs to meet.
- A business law attorney can draft a partnership agreement and employee contracts, so you make clear what people’s duties are, how they will be compensated and what reasons might cause you to end your working arrangement.
- A business law attorney can create and review your business contracts, to ensure they will help protect your business in a dispute and lessen the chances of a dispute arising.
- A business law attorney can represent your business in litigation if you need to pursue that.
- A business law attorney can help you develop a plan for protecting your business’ intellectual property.
- A business lawyer will give you good, outside perspective on how you are running your business. A good attorney give you knowledgeable opinions and can help you make better business decisions, avoiding you making decisions based more on emotions.
Many small and medium-size businesses choose to hire outside counsel for their legal matters. It often is less expensive and more efficient than hiring an attorney as an in-house employee. Also, outside business law attorneys can become more familiar with your business and your goals, helping you gain the advantage of having legal help that aims to strengthen your business for the long-term.