finance adviser

Why Your Small Business Needs an Attorney?

Most of the small business owners hesitate while taking advantage of various human resources like the insurance agents and accountants whenever they first start their business and throughout the life of their business.

The business owners also view the resources as a cost of operating the business. The business owners regrettably do not tend to view the attorneys in the same light.

The business attorney is a resource that the business owners must include in their portfolio at times more than the others are; however, you must always have the attorney at your fingertip.

Never wait Till It’s Too Late

The business owners are too hesitant to contact the attorney until any major problem arises. Never wait until the officer is standing at your doorstep with the lawsuit.

The lawsuits are expensive whether you’re a defendant or the plaintiff. They are emotionally draining and time-consuming.

Although there are various costs associated with an attorney prior to the lawsuit occurs, these costs are minor when compared with the cost of litigation.

Involving the attorney at first stage helps you to avoid the situations that increase your liability of business exposure and also saves money for the long term.

What does an attorney do?

The small business attorney advises you on various issues related to your business all through its existence, the various examples of the issues include the type of legal entity used in forming a business, the various legal implications of the independent contractors versus the employees, negotiating and drafting the contracts, the governmental entities that are investigating your business, the terminating contract or the employees, acquiring or merging onto another business.

Whenever your business is doubtful about the potential actions that it might be taking, you can contact the attorney to discuss the actions of any complications those might result from that particular action. This is generally the best way of caution in order to pull your business attorney in sooner rather than later.

The contracts are prevalent in various businesses, but the businesses rarely have their review contracts before being signed by the attorney.

The attorney can point out some typical problem clauses in the contracts that are related to the termination, dispute resolution, or assignment.

Mostly, if your contract doesn’t have any anti-assignment provision, there is a possibility that the other parties are able to sign the contract to the third-party with whom you are not likely to start a business.

In the same way, the attorney can change the contract which the parties mediate disputes before running to the courthouse, which might save your business money whenever the dispute arises.

These are very simple things which the attorney can do before the contract is signed, which might save money down the road.

Businesses are often quick in taking actions under the executed contract, which doesn’t allow the business to terminate the contract without giving the other parties the chance of curing the breach of the contract.

In the same way, if the business makes use of independent contractors, the business attorney can draft some independent agreement to the contractor, which is favorable to business. One must also consult the attorney before terminating the independent contractors or the employees.

It is a Relationship

Always consider the interactions with the attorneys as the relationship builders rather than considering them as the individual transactions.

The small business attorney must invest their time in understanding the operations of your business in order to offer you the best advice.

As you continue working with the attorney, they would become more familiar with short term and long term business goals. One must never be afraid of demanding lots of advice from your attorney.

Just like any other business advisor relationship, the attorney must add value to the business, thereby protecting the business.

On the other hand, the relationship with the attorney must grow to some point where the attorney relationship is very much important in your business relationship.

If you’re a small business owner and a business attorney is a consistent resource that you can utilize throughout the life of your business.

The attorney is the necessary element who helps in protecting your short term and long term business interests along with helping you to save money and time.