why entrepreneurs should hire lawyer

6 REASONS ENTREPRENEURS SHOULD HIRE A BUSINESS LAWYER TODAY

1. Gain a key business advisor without supporting the weight of a new employee.. A business attorney isn’t just there to...
2. Develop stronger, good faith relationships with investors.. As a new business, you will most likely team up with...
3. Educate staff about your business and the laws that apply.. A...

Full Answer

Do you need a lawyer for Entrepreneurship?

Entrepreneurship offers a variety of paths. A person’s entrepreneurial path can be different from yours. But if there is one thing that both of you have in common, it is none other than the need to have a lawyer. It is the one factor that easily applies to all forms of entrepreneurship.

What does it feel like to become an entrepreneur?

Becoming an entrepreneur comes with a great feeling, especially if you are able to create and sell a product. This is even true if you do so in the most ethical manner. But, as an entrepreneur, you are expected to go beyond your limits.

Why do entrepreneurs need lawyers?

Whether it's the legal complexities of starting, incorporating and running a business to the specific needs for reviewing a contract, hiring and firing employees, protecting intellectual property or a trademark, being sued by a customer, resolving business disputes or more, having a good lawyer can make a big ...

Why is it important for an entrepreneur to hire an attorney or other professional prior to the establishment of the new business?

An attorney will help you prepare contracts for a business and also negotiate the best possible terms of an agreement before signing more documents.

Why is hiring a lawyer important?

An Attorney Can Help You Avoid Problems. By having everything in place to begin with, you will be able to avoid issues down the road. You will understand all the aspects of your contract or what you need to have in place before starting a business. Based on all these reasons, it just makes sense to use an attorney.

What is the advantage of hiring a local attorney for a startup?

Working locally—at home—is a big advantage for an attorney. When you describe your business's situation, a local attorney can see how all the pieces fit together before the process even starts. Local attorneys know the judges, the court clerks, and how litigation is generally conducted in that particular area.

How important is an attorney to your entrepreneurial endeavors and why?

Attorneys should realize that entrepreneurs are often bootstrapping funds and that legal fees are not always the highest item on the list of fund allocation. Therefore, it is important that you ask your lawyer to help you organize a list of legal needs that you can prioritize together.

How can a lawyer help a startup?

Legal help for Startups in their business formation and to cover statutory legal compliances results in laying a solid base and hassle-free operations which provides entrepreneurs/ founders/ promoters to focus on the more vital needs such as hiring, funding and finance and other processes to enable growth.

Can a lawyer be an entrepreneur?

"Lawyers turn out to be immensely successful entrepreneurs”. History says that this statement is pretty much true to an extent. Law graduates now operate in various fields, from ICT and mining to the airline industry.

What is the role of a business lawyer?

Business Lawyers are lawyers that focus on providing legal advice to business owners on issues that affect businesses, including taxation, business transactions and intellectual property rights. Business Lawyers may also be known as a Corporate Lawyer or Commercial Lawyer.

Why is there a need to hire a lawyer in any partnership or corporation business?

By hiring a lawyer, your legalities (such as contracts, tax documents, and the likes) will surely be in order, reducing the chances of getting sued by your employees or other entities. All your bases will basically be covered so you can just focus on the things that can improve your business better.

What are the benefits of business law?

Business law is mainly aimed at maintaining order, establishing a set of generally accepted standards, resolving disputes, and protecting liberties as well as rights when it comes to business as well as its relation to its customers, government authorities, and other businesses.

Is it better to hire a local attorney?

Local lawyers can more effectively judge the value of your case or the likelihood of success. A local attorney knows and can fairly judge the temperament in the community and the likelihood of a fair and reasonable verdict being returned in your particular matter.

What's the difference between attorney and lawyer?

Attorney vs Lawyer: Comparing Definitions Lawyers are people who have gone to law school and often may have taken and passed the bar exam. Attorney has French origins, and stems from a word meaning to act on the behalf of others. The term attorney is an abbreviated form of the formal title 'attorney at law'.

Steve Jobs

The literal meaning of being an entrepreneur is you believe in embracing ambiguity and are comfortable dealing with the unexpected hurdles of the business world. This makes an entrepreneur look upon envisioning ways to accelerate the business’s potential and think about its longevity all the time.

What keeps Canadian entrepreneurs ahead in the league?

It’s the preference of safeguarding businesses with a legal shield that makes Canadian businesses stay there for longer. As a result, it’s common to witness an entrepreneur associating with a business lawyer right from day one of establishing the business.

1. Accelerates trust factor

Entrepreneurs establishing a start-up in Edmonton or other cities of Canada prefer hiring a business lawyer to gain investors’ trust. A tentative stakeholder, client, or investor looks for security to invest his hard-earned money in a business. And that’s what you can do when you have an Edmonton business lawyer backing your business legally.

2. Following business laws

When you have a certified business lawyer involved in your business, you don’t have to worry about commencing any business activity against the local business laws. Because a business attorney won’t let you do anything wrongful like – not following the white-collar business infrastructure, etc.

3. Acts as a business advisor

A business legal professional isn’t restricted to commencing your business operations or keeping a hawk’s eye on the business relationships. It’s something more.

Some other perks include –

A business lawyer briefs you about the licensing laws and requirements, employment laws, and static business structure laws strengthening your business reputation in the marketplace.

The final line –

No matter if you are running a fortune 500 organization or a start-up with immense potential, you need to keep your business legally protected. This can be one of the secrets of a lasting business in the current scenarios.

What does it mean to be an entrepreneur?

Being an entrepreneur means having business insurance. Unfortunately, a lot of entrepreneurs these days love to run their business without setting up an insurance plan. This is where the need to have a lawyer on standby comes in. Let’s say you are a health coach and you advised the idea of using your products to improve a person’s health. Apparently, one of your customers took your advice and bought your product. The only catch, however, is that his/her health became worse after consulting your advice.

Is entrepreneurship a lawyer?

A person’s entrepreneurial path can be different from yours. But if there is one thing that both of you have in common, it is none other than the need to have a lawyer. It is the one factor that easily applies to all forms of entrepreneurship.

Can you control your employees?

Sometimes, you do not have the power to control your employees or oversee what they are doing on a daily basis. After all, you are busy running the core of the company, such as getting new contracts, building new partnerships, or planning a huge marketing campaign. In this case, it is easy for the company to be affected if one or more employees start messing around.

What is business attorney?

Business attorneys have a thorough understanding of applicable state and federal laws. Hire one, and you won’t have to worry about whether your startup meets the necessary legal requirements. A lawyer will also take proactive steps to protect you against liability and reduce the risk of future lawsuits.

Can a business attorney protect you?

When not drafted properly, legal contracts won’t protect you, your startup or your brand. With a business attorney, you’ll have an expert who can review the fine print on every agreement – including contracts for vendors, employees and customers as well as real estate leases, purchases and sales — to ensure you’re legally protected.

Written By

Michael Acosta is a partner at Acosta & Williams LLC in Langhorne, Penn. As an attorney, he specializes in handling matters involving pharmaceutical litigation, personal injury, premises liability, auto and truck accidents, toxic torts, property and air contamination and wrongful death.

Michael Acosta

Michael Acosta is a partner at Acosta & Williams LLC in Langhorne, Penn. As an attorney, he specializes in handling matters involving pharmaceutical litigation, personal injury, premises liability, auto and truck accidents, toxic torts, property and air contamination and wrongful death.