When Should A Lawyer Be Involved In Business Decisions?

While you may have plenty of expertise to run your business, you likely don’t have a law degree. As a result, you’ll have times when it will be very beneficial to get advice from an attorney you know and trust. Though many decisions associated with your business are ones you can make on your own, there are others that require a lawyer’s expertise and guidance. As for when you should involve a lawyer in your business decisions, here are a few examples.

When Should A Lawyer Be Involved In Business Decisions

Signing Contracts

Whenever you are preparing to sign on the dotted line for any legal document related to your business operations, always have a lawyer whose advice you trust look over the contract. Along with making sure the clauses contained in the contract are actually legal, your attorney can answer any questions you may have before you sign something you may later regret.

Choosing Your Business Structure

Although many business owners choose their business structure on their own, working with an attorney who specializes in corporate law can make the process much easier to understand. Whether you are entering into a partnership, establishing an LLC or corporation, or are even a sole proprietor, involving a lawyer in this decision will allow you to learn details about taxes, liability issues, and much more.

Buying Property

Whether you are relocating your business or buying property to open a new location when expanding, always work closely with an attorney when buying property. In doing so, they can help negotiate a fair price on your behalf, assist with title searches and other related matters, and examine local laws and ordinances to make sure the property you have in mind is actually zoned for your type of business.

Fighting a Lawsuit

Unfortunately, even the best businesses may at some point face legal action from a disgruntled employee or customer. From a competitor claiming you stole their idea, an employee claiming discrimination, or a customer or client who claims they were injured either at your business or by one of your products, it is vital you retain legal counsel as soon as possible when these situations develop. Once you hire a lawyer, they can examine the details of the situation, advise you of your options, and in some cases negotiate a settlement to keep the matter from going to court.

Rather than try to make each and every decision about your business on your own, involve an attorney on matters where making mistakes could cost you in terms of money as well as your reputation.