Do You Have an Attorney for Your Small Business? 3 Reasons You Should

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An attorney? I’m just an entrepreneur looking to make a few extra bucks while chasing a dream. Why in the world would I ever need an attorney? It’s quite common to question the need for legal counsel – especially when you don’t fully understand all that they can do for your business.  When most of us think of attorneys, we think of lawsuits and litigation. We assume that because we’re a small entity that the chances of being sued are slim to none….

Wrong attitude to have. It is important to point out two things. The first is that an attorney can assist you in more ways than just providing legal representation should you get sued. They have an array of skills and knowledge that can ensure that your business is protected at all times. The second thing to point out is that, unfortunately, as a “one man band” you’re assuming a LOT more risks than larger companies are and as such, the chances of someone filing suit against you are high.

The Right Attorney Can Protect Your Business

Your business is your pride and joy. You’ve invested time, money, and energy into establishing it and growing it to the point that it is today. So imagine finding out one day that someone can take it away from you (or sue you for so much that you can’t financially support a business anymore)… how would that make you feel?

Having a no non-sense attorney on retainer to safeguard your business is the only way to provide yourself with peace of mind. This magazine profile talks about Benedict Morelli and the Morelli Firm located in the greater New York area. It goes into detail about how the firm and assists individuals and businesses in areas that can include anything from legal advice to law suits, personal injury claims, and more.

Having an attorney such as this on your team means that you have a plethora of information at your fingertips. It means you have a team of specialized professionals that are willing to go to bat to make sure that they very thing you worked so hard to accomplish is not taken from you or tarnished.

Not convinced that you need to add an attorney to your business expenses? Here are three reasons to reconsider:

3 Ways an Attorney Helps Your Business

  1. Legal Advice – No matter what stage you’re in with your business, there’s always a need for legal advice. From ensuring that you’ve selected the right type of entity to labor laws and contractual agreements, you’ll need someone who knows the law to ensure that you’re in compliance.
  2. Draft Contracts – Contracts are legally binding documents that safeguard your business. They are in-depth documents that detail information as it pertains to your business and the responsibilities you have as a service provider, employer, etc. Omitting important information, creating a contract with lingo no one understands, or adding in content that is unnecessary can present issues down the line. An attorney can assist you in drafting and/or reviewing contracts to ensure you’ve stated everything clearly and minimized the potential for a suit.
  3. Prevent Legal Issues – It’s always better to be proactive than it is to be reactive. Waiting for a lawsuit to hit you over the head is not the best practice. An attorney is great for spotting something that could spell trouble later on. A poorly written contract, for instance, that leaves you open for too many risks can be pulled before it’s sent out to a client. An employee benefits package that does not comply with government regulations can be assessed prior to you having a suit from a disgruntled staff member. The list goes on and on. For what it’s worth, an attorney can also prevent major legal issues by helping you negotiate outside of court and lessening the blow should a suit be filed.

You might be thinking of an attorney as nothing more than an added expense that you can’t afford. However, as an entrepreneur, you take on a host of risks that leave you susceptible to being sued. From unsatisfied customers to disgruntled employees and anxious competitors, there is a lot that could fall through the cracks that you aren’t prepared for. Having a reputable attorney on retainer with extensive knowledge can give you peace of mind as you focus on growing your business.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

Comments

  1. I can see why many entrepreneurs and small businesses would question the need for a business attorney. However, I like these 3 ways you talked about that a lawyer can help. I think the best part of what you said is that a good attorney can help PREVENT legal issues from arising in the fist place. Thanks for sharing!

  2. I really think that I will benefit from an attorney with my small business. I like the fact that they can help to prevent legal issues. I don’t want to make a mistake and screw up my whole business! I would rather trust all the legal issues to an attorney.

  3. I like that a business attorney can make a difference in your business by giving the legal advice that you need to hear, helping with drafting contracts and preventing legal issues from coming up. Those might be the best reasons why you should get an attorney for your business. I think it would really help to keep people from having troubles in your business.

  4. Great article. Attorneys can help you, especially if the biz is just getting started.

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