When does your business need a lawyer?

Most small businesses start out, well, small. Not much for assets or employees, but there’s most definitely sweat equity from the owner. Most owners, as the company grows, put dollars earned right back into the business. Costs need to be managed and minimized. But, at some point, you’ll need a lawyer.

It’s been said that a good business attorney is worth his or her weight in widgets. Whether it’s structuring the business, commercial leases, contracts, disputes or litigation, an experienced lawyer can not only help you grow your business, but help keep it afloat.

When do you need a lawyer?

There are a few moments in the life of a small business where a business attorney can make a profound difference.

  • Business formation. The foundation is the most critical part of the house. The right legal structure is important and will affect your liability, how much you pay in taxes, the paperwork that needs to filed and your ability to raise financing.
  • Shareholder agreements. Your business attorney can help you set up the terms and conditions that will govern the business relationship. When there’s a dispute with a partner or shareholder, having an agreement in place will save you time, money and stress.
  • Employment agreements. At some point, you’re going to need to put a team in place to really get your company growing. A business attorney will help you manage risk with agreements for non-compete, non-solicit and confidentiality, as well as considerations as exempt versus non-exempt and the proper use of independent contractors.
  • Vendor agreements. Working with outside, third parties requires agreements to protect trade secrets and your intellectual property.

Starting a business can be incredibly rewarding, but can also be challenging and risky. Protect your investment with legal guidance to build a business that will last.

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