5 Reasons Why You Need a Lawyer for Your Business
Every entrepreneur should consider incorporating a lawyer onto their team in the modern business world. For example, a business must comply with various legal aspects before operating. For example, when you select the correct type of business entity you want to set up and choose your business name, a business attorney can help.
However, you may also realize that you still need a business attorney as the business goes forward. A business attorney helps you protect your business investments, prevent misunderstandings with your partners, and protect you from personal liabilities for business debts and legal obligations.
A business attorney protects your business interests, understands how to file legal documents for your business, knows the pros and cons of a legal situation, and generally understands the law. A business attorney can prevent you from making legal mistakes. Below are five reasons you should hire a lawyer for your business.
1. Contract Drafting and Negotiations
A business lawyer on your team will help you draft standard contracts or agreements when dealing with suppliers, customers, employees, and clients. The lawyer can also help you and the parties involved understand the agreements or contracts they sign.
Every time you enter into a legal agreement, your business lawyer will review the document, give the proper protection, and ensure the contract terms are fair and transparent. The lawyer also ensures that the agreement provides indemnification in a contract breach. Always involve a lawyer to draft and review contracts that have legal effects on your business.
2. Permits and Licenses
Most businesses require legal business permits and licenses before starting or even acquiring an existing business. To execute this process successfully, you will usually need a business attorney to offer you guidance throughout the process. The attorney also helps you file all the required business and government documents regarding the necessary board and government offices.
3. Buying or Selling of a Business
Many significant legal consequences may arise when buying or selling a business. During this process, your business attorney provides you with legal advice, such as whether you should buy a company’s assets or buy its stocks. The lawyer can also draft purchasing and acquisition agreements and transfer the permits and licenses for the business to operate.
4. Intellectual Property
Protecting your intellectual properties such as trade dress, trademarks, and trade secrets is essential in the modern business world. Your original inventions, logos, and designs need protection, and no one should use them without your agreement.
You will also likely need a business attorney when your business involves the disclosure of your intellectual properties to a third party. The attorney will ensure legal protection and preservation of your intellectual properties in such situations. And in case of misuse or abuse of intellectual properties, the attorney will help you in prosecution.
5. Employees Laws and Policies
Growing your team by hiring more employees is vital for the growth of your business. However, various laws, codes, and regulations must apply to employees being essential assets in your business. Understanding and respecting these laws and regulations will require guidance from a professional business attorney.
Your business will also need to formulate and establish rules and regulations that employees at the workplace should follow. Your business attorney can help you prepare an employee’s handbook outlining relevant policies and procedures for every employee in your business.
With so many regulations, rules, and laws governing businesses, hire a business lawyer for your business to carry out all your legal business processes. Mohajerian A Professional Law Corporation is an established law firm offering professional legal services to companies and corporations. Contact us for more information and guidance for your business.