It has been established that there are generally two professionals that a business will need at inception: an accountant and a lawyer. While the reasons to hire an accountant are pretty obvious (preparing charts of accounts, reviewing financial and tax returns), the reasons for hiring a business lawyer, however, may not be so apparent. Whether you are going into business alone or with a partner, your business needs abide by the laws at all times, and it needs to be protected for the future.
Hiring a good lawyer can provide incredible value to your business, namely in helping to protect you from legal implications. Some of the common tasks of a business lawyer include:
- Determining the best legal structure of your business.
- Negotiating large sales agreements, lease agreements for real estate, or drafting contracts.
- Preparing the standard form contracts that a business will need with customers, clients and suppliers.
- Helping a business respond to contracts that other people will want it to sign.
- Registering products and services for trademark and copyright protection.
Business owners launch their businesses with the hopes that everything will go smoothly, and with the end result of running a successful company. Amongst the many reasons businesses fail, high on the list is that firstly, businesses are started for the wrong reasons and secondly, business owners have a lack of understanding of the basic ins and outs of running a business. Business owners need to make sure that their businesses are compliant with the law at all times. A good business lawyer will provide vital assistance in almost every aspect of your business, from basic zoning compliance and copyright to formal business incorporation and lawsuits.