why i need a small business lawyer

9 Reasons a Small Business Needs a Small Business Lawyer

• 1.Debt Collection:.
• 2.Contract and Document Review:.
• 3.Contractor or Supplier Disputes:.
• 4. Internet Security Breaches:.
• 5.Product Liability Issues:. Having skilled attorneys could prevent unnecessary hassles and headaches as well as protect...
• 6. Insurance Disputes:.
• 7.Employee Theft:. But the reality is,...

Full Answer

Do I need a lawyer for my Small Business?

It should be stated that if your business is well-funded or you feel that you need the assistance of an attorney, you can always retain a lawyer to help you with everything listed above.

How much does it cost to hire a small business attorney?

There are certain matters that are fairly straightforward and/or not unduly difficult to learn and therefore do not require the services of an attorney who charges at least $200 per hour. There are enough expenses associated with running a business, why not save yourself a load of money and do it yourself if you can?

Do I need an attorney for pre-prevention?

Prevention does not necessarily involve hiring an attorney, though consulting with one wouldn't hurt. By the time you or your business is sued, the preventable damage has been done and the only question that remains is how much you'll be paying in attorney's fees, court fees, and damages.

What tasks should I take on myself as a business owner?

The following is a list of some tasks that business owners should consider taking on themselves (with the aid of self-help resources, online and in print): Researching and picking a name for your business (previously trademarked business names can be researched online)

Why is a lawyer needed in a business?

A Business Attorney can guide you on the applicable regulations, codes, and laws related to hiring employees or independent contractors. The right legal advice will prevent you from possible claims for discrimination, misclassification of employees, or braking state and federal laws.

What type of business does not require an attorney to set up?

A sole proprietorship is the simplest business form. It doesn't require that you register your business with your state, so no, you probably don't need an attorney to start this type of business.

Should I speak to a lawyer before starting a business?

But meeting with a small business attorney before starting a business can be one of the smartest moves you'll ever make. A business lawyer can explain how to start a business and answer your business law questions. But more importantly, a lawyer can identify the risks you face and help you minimize them.

What are multiple reasons you need a lawyer for a startup?

For this and other important reasons, you most likely will need a lawyer for your startup.Contracts. Most businesses execute contracts for space, services, and supplies. ... Registering, Licensing, and Permits. ... Business Form. ... Multi-State Business. ... Strict Conformity. ... Capital. ... Variety of Entities. ... Autonomy.More items...•

What is better LLC or sole proprietorship?

A sole proprietorship is useful for small scale, low-profit, and low-risk businesses. A sole proprietorship doesn't protect your personal assets. An LLC is the best choice for most small business owners because LLCs can protect your personal assets.

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'.

Who should I talk to about starting a business?

5 People You Should Talk With Before Starting a BusinessYour spouse. One of the first people you should talk with about this new venture is your spouse. ... A lawyer. Starting a business involves a few legal hoops, so you'll want to talk with a lawyer. ... An accountant and trusted advisor. ... A business coach or mentor. ... A banker.

What questions should I ask a corporate lawyer?

General QuestionsHow long have you been practicing law?What do you specialize in?What are your main roles and duties? What goes beyond that scope?How do you bill?What companies do you generally work with? ... Are you experienced with startups?Are you familiar with the laws of incorporation in my specific state?

What are the questions to ask a lawyer?

Questions you might ask your lawyerDo I have a problem that can be resolved by law?What legal risks am I facing?What documents do I need to support my case?Do I need statements from witnesses?What are my options for resolving the dispute out of court?How can I settle the case?More items...

How can lawyers help Startups?

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.

What happens if your business doesn't cause environmental problems?

An environmental issue arises and your business is involved (even if your business didn't cause the environmental problem, you may be penalized) Negotiating for the sale or your company or for the acquisition of another company or its assets.

Do you need legal help when it's too late?

But when you do, it's good to know where to find the right one. And -- more to the point -- you may not know you need legal help until it's too late, as attorneys can help you stay in compliance with the law and spot developing legal issues early.

What is a business lawyer?

A business lawyer can quickly help you realize when you need additional help – especially with complicated tax matters, or any other specialized assistance. A well-connected business lawyer will be able to quickly refer you to other professionals that can provide the assistance and the guidance that your business needs.

Why is it important to have a lawyer on your team?

Having a lawyer on your team can tilt the field to your advantage in the event of a lawsuit. If you are threatened with legal action, having a lawyer already on your team means that he already knows your business, which allows him to hit the ground running. Even more importantly, a savvy business lawyer will have constructed your business ...

What to do if a client owes you money?

If a client, vendor, partner, or other associate owes you money and is dragging his feet on the matter, by simply asking your lawyer to send a request on your behalf, you can motiva te immediate action. In the event that this alone is not enough to convince the individual to pay, your lawyer will know what your next steps should be in order to collect the money you are owed.

Is it good to have a lawyer for a business?

This proves true for both experienced entrepreneurs and young business owners who are just getting started. A good business lawyer, with specific knowledge of your business, will help you avoid problems that you did not know existed, which can save you huge amounts of money and stress.

1. Solve legal disputes on time

Legal disputes can bring your business to a halt. If you already have a business lawyer in your team, you can save time solving most of the legal issues. Having a lawyer in your team means you have someone who understands your business in and out, and he can hit the ground running.

2. Avoid legal mistakes

There are a lot of mistakes a small business can make without being aware of. If you are just getting started as an entrepreneur, you will likely face pitfalls that may result in your business collapsing.

3. Refer you to experts when you need help

An experienced business lawyer will know when your business needs special assistance and help you get experts in that field. When you need additional help on legal issues like filing business taxes, an attorney can help you in time.

4. Improve your chances of getting paid

Dealing with debtors is one of the most challenging things for most small businesses. In most cases, when clients owe your company some money, and they are taking ages to pay, you may reach out to your lawyer to send a request on your behalf. When this happens, you can motivate your clients to take immediate action to pay.

5. Ensure all contracts and legal agreements are genuine

When you are getting to a contract or securing a tender, your business needs a lawyer. In most cases, small businesses forget the importance of having a solid arrangement until it’s late. When you get into a contract that you don’t understand, you are more likely to breach the contract and meet hefty penalties.

Final Thoughts

If you own a small business or you are looking forward to starting one, you should not forget to include a business lawyer in your team. Most business attorneys are well conversant with all the legal formalities required when registering your business.

Why do small businesses need a lawyer?

Small businesses rely on lawyers to provide legal expertise in some areas, which they might not be well-versed. These include the knowledge to:

When do new small businesses typically use a lawyer?

The specific scenarios when start-up small businesses often choose to consult a lawyer include:

Do I need a lawyer to start a small business?

Retaining the services of a lawyer is not required as a condition of starting a business. In fact, many of the steps of starting a business cited above can be performed without a lawyer. This means the decision to hire a lawyer or go the DIY route depends on your business entity.

Do I need a lawyer to start an LLC or corporation?

LLCs can benefit from a lawyer as these entities often require filing articles of organization (or a certificate of formation) with the state, the appointment of a registered agent and adherence to other regulatory requirements. Therefore, consider creating an operating agreement.

Why do businesses need an attorney?

An attorney is a necessary element to protect your business’s short and long-term interests, — and can save you time and money. Think of a business attorney as a cost of doing business, rather than as an expense related to repairing problems. About the Author.

How can an attorney help a business?

An attorney can pinpoint typical problem clauses in contracts related to assignment, termination, and dispute resolution.

What is an attorney's problem clause?

An attorney can pinpoint typical problem clauses in contracts related to assignment, termination, and dispute resolution. More specifically, if your contract does not have an anti-assignment provision, the other party may be able to assign the contract to a third-party with whom you do not want to do business.

What is a business attorney?

A business attorney is a resource that business owners should have in their portfolio of business advisors for consultation on a variety of issues. If you’re a small business owner, you may need a business attorney at certain times more than others; however, you should always have an attorney at your fingertips.

Why is it important to involve an attorney before a lawsuit?

While there are costs associated with involving an attorney before a lawsuit occurs, those costs can be minor compared to the cost of litigation. Involving your attorney at an early stage can help you avoid situations that increase your business’s liability exposure, and save you money in the long term.

Can a business terminate a contract without consulting an attorney?

Maybe the contract does not allow the business to terminate the contract without giving the other party the chance to cure the breach of the contract.

Can an attorney change a contract?

Similarly, your attorney can change the contract to require that the parties mediate disputes before running to the courthouse, which may save your business money if a dispute arises. These are simply things that your attorney can do before a contract is signed that may save you money down the road.