Small business owners have much to celebrate. The decision to start a new endeavor takes courage and dedication, not to mention significant investments of time and money. As you lay the groundwork for a strong and successful business, you will find yourself facing a seemingly endless number of questions and decisions. Although there are many resources available to help entrepreneurs navigate the startup process (and many of these resources are even free, online guides), it’s important to recognize that every new business is unique in its needs and goals. Many small businesses find that it’s worth investing additional time and resources early on in the process in order to set themselves up for success while minimizing potential risks and issues that could arise in the future. It’s easy to assume that a small business has no need for an attorney until a legal dispute arises; however, enlisting the guidance of a knowledgeable and experienced business attorney during the formation process can protect your business venture and reduce the likelihood of legal headaches and potentially costly litigation later on. Let’s take a look at some of the tangible benefits of working with a small business lawyer, even before any legal issues or concerns arise.
How Can a Lawyer Help My Small Business?
Some small businesses assume that lawyers are only necessary when a dispute arises. While business litigation is a valuable service, it is certainly not the only way that an attorney can support and protect your small business. In fact, seeking legal advice during the business formation stage ensures that your venture has the necessary protections in place to grow and thrive. For instance, many small businesses benefit from working with a business lawyer as they select a legal structure (i.e., sole proprietorship, limited liability company, corporation, etc.). These implications and suitability of each business entity can be difficult to grasp fully, so it’s helpful to have a knowledgeable attorney for small businesses by your side to assess your unique situation and identify the most appropriate option. Knowing that the business entity you select will provide your venture with the security and protections it needs allows you to move forward with greater confidence and reassurance.
Do I Need a Business Law Attorney?
In addition to providing you with customized legal guidance during the business formation process, an experienced small business lawyer can assist you with a wide range of other important decisions and tasks. For instance, many small businesses rely on contracts of some sort. The wording of business contracts is critical, as it can make all the difference between upholding the best interests of you and your business or subjecting you to litigation battles because of overly vague language or provisions. Although it may be tempting to use generic online forms to create business contracts, these templates are typically too vague to offer your business the strong protections it deserves. When you enlist the services of a trusted business law attorney, you can work together to articulate the specific needs and concerns of your business so that the contracts can be tailored to accommodate these considerations. In many cases, legal disputes can be resolved by looking to a clearly-worded business contract, so investing in a customized business contract may save you considerable time and money in the long run. Moreover, a friendly and knowledgeable business attorney can also review any business contracts that come your way to ensure that you understand the implications of signing these documents. If the contracts do not support the best interests of your business, your attorney can negotiate more favorable terms that safeguard your business.
An Attorney for Small Businesses Can Assist With Liability Concerns
Another considerable advantage of hiring a business attorney is trusting that your business is sufficiently protected from any liability issues. Experienced small business lawyers understand the common factors that can lead to lawsuits. Although it is not always possible to prevent every frivolous lawsuit, a skilled attorney can look out for any red flags and potential vulnerabilities and address or resolve them to reduce the likelihood of costly litigation or other legal headaches. Moreover, you can work with your business lawyer to understand the most common mistakes small business owners make early on so that you can avoid these missteps and move forward on stable and secure ground.
Vocal Legal Advocacy in the Event of Business Disputes
Unfortunately, even the most seasoned and experienced small business owners may find themselves embroiled in costly legal battles at some point. As soon as you encounter a potential conflict, consider discussing the matter with a dedicated and highly qualified small business lawyer to develop a plan for addressing the issue. Generally speaking, responding to conflict early on gives you more options for resolving the dispute. Rather than heading directly to litigation, you may be able to reach a resolution through less time-consuming (and more cost-effective) options, such as mediation or arbitration. With a seasoned legal advocate by your side, you can trust that your best interests—and those of your business—will be protected at every step of the dispute resolution process.
Should I Hire a Business Law Attorney?
Ultimately, the decision to hire a business attorney is up to you. If you believe in setting your business up for success by spending a bit more time and effort upfront, you may wish to consider working with a business attorney as you launch your business. Another benefit of starting a business relationship with an attorney early on in your venture is that you will have a dedicated legal advocate in your corner to provide ongoing support and guidance as your business grows. Should a question or issue arise, you can turn to this trusted legal professional for customized advice, as they will already be familiar with your business and its specific goals and needs.
At Judex Law, LLC, we believe in empowering small business owners to make informed decisions with greater certainty and confidence. If you need help with a business formation matter or guidance about a business decision, reach out to our office today at (303) 523-4022 to get started with a dedicated and friendly business attorney.
