Knowing When To Bring in a Lawyer for Your Small Business
by Arina Smith Small Business 30 October 2017
You’ve got a lot to plan for as a small business owner. But as you’re deciding on how to market your products or services, how to find the right employees for your company, and where you set up shop in your geographic location, know that some situations might call for legal expertise from a source like Suzzanne Uhland’s Twitter. Following are a few business situations in which you should bring in a business lawyer to help you out.
When Hiring Employees
In the modern workplace, you might not need full-time employees. Instead, you might be just fine with freelancers and independent contractors. Once you’ve figured out what type of employee is best for your business, consult with a lawyer to learn more about the laws you need to be mindful of regarding the employees or contractors who perform work for you. Business lawyers can help you draft employee or contractor agreements and help you figure out how to handle taxes.
When Deciding on the Structure of Your Business
Would your business function better as an LLC, corporation, or sole proprietorship? A legal professional can help you decide which is the best fit for you and your business and help you file all the necessary paperwork. Once you decide on a business structure, be sure you ask your lawyer about your tax obligations, personal liabilities, setup fees, and the like.
When Contracts Come Into Play
In addition to employee contracts, you might have to draft contracts for vendors, suppliers, or business partners. When you do, a lawyer can help you draw up a legally binding agreement that protects all parties involved and heads off a potential business disaster. Additionally, you should have a lawyer look over any contracts you’re given to make sure you’re protected and aren’t getting a raw deal, such as signing a contract that doesn’t include a dispute clause. Once you and all other parties have signed the contract, it’s best you make sure your lawyer is waiting in the wings in case that agreement is breached. Taking swift legal action can help avoid a disastrous fallout.
As a business owner or an entrepreneur looking to get your business off the ground, you would be exploring multiple arrangements and contracts. Some might be for raising finances, while others for selling shares. No matter what the nature of your business plans, it is best that you hire an expert business lawyer to oversee all these operations. This will ensure that you are not getting short-changed by the other entity you are entering into a contract with. If you wish to know more about hiring a business lawyer for your organization, read more here.
When There’s an Environmental Issue Impacting Your Business
Should you ever encounter an environmental issue over your business, let your lawyer handle everything for you. Examples of such issues include raw material development, waste disposal and manufacturing. Some environmental problems might be the result of the land you bought for your business, and if they are, it could be the seller who needs to take care of the problem, which might require you to sue them so you aren’t stuck with the bill for cleanup.
When You’ve Been Hit With a Complaint
During the course of operating your business, you might incur a complaint filed by your local, federal, or state government. Such complaints could be the result of the IRS not agreeing with your filed taxes or an employee complaint. In any case, seeking out experienced legal help will let you know exactly what you’re dealing with as well as what your best move should be to clear up the complaint and move on with your business.
When You’re Either Buying Another Business or Selling Your Own
If you’re ready to expand your business reach or buy another one, let a lawyer guide you through the process, even if it’s not your first time at the negotiating table. The same applies when you decide to sell your current business. Lawyers can let you know how much you should pay for the business in question or how much the business you’re selling is worth.
Knowing when to involve a lawyer in your business operations can keep things running smoothly. If you don’t already have a lawyer for your small company, now is a great time to change that.