No one feels comfortable about having to find an attorney, except maybe the career criminal that has been in and out of jail so much that their rap sheet appears to be the size of a Webster’s dictionary. For the law-abiding individual, we would rather have a root canal and a colonoscopy on the same day instead of having to visit with an attorney. Attorneys can often be frowned upon, that is, until we need one.
However, if you have a business, or are contemplating starting a business, it may not be a bad idea to start looking for a lawyer that can assist you with being a business owner. There will be times that having an attorney programmed into your phone will give you a sense of relief. Instances of absurdity may arise as a business owner where a lawyer might be the only person you can turn to for guidance. It’s best to plan ahead for these situations rather than wait until they arrive! They handle odd situations for a living, and finding the right one can make or break your business.
Structuring Your Business
Depending upon how you want to structure your business, a lawyer could come in handy. The available options include sole proprietorship, partnership, LLC, corporations, and nonprofit.
A lawyer will help you determine which option to go with based on tax obligations, fees, and personal liabilities concerns. They can also help file the documents needed. It might help to have a lawyer specializing in intellectual property rights and licensing agreement review as well if your business needs it! Why take years creating a successful product or business if it is just going to get ripped off down the road?
Once you have a business, contracts will become a part of your everyday life. One of the first contracts you will have to sign is more than likely for the actual lease of the building or office space for your business. Leases can be a tricky thing, so having an attorney advising you could save you a lot of money later on. If for some reason your business has to close down, a long-term lease could be a very costly mistake if there is no possibility to get out of it.
Lawyers are experts at determining questionable language in a contract. Having one on board reviewing, or even creating, contracts could protect you from headaches at a later date. They can also limit the amount of liability your business has to deal with in case of an accident or setback.
There are many employee-related issues that can cause you to want to consult a lawyer. Something as simple as hiring an employee or using independent contractors can make a big difference with taxes and the IRS. A lawyer can help with explaining this and even creating a contract or agreement for employees or independent contractors to follow.
In today’s day and age, firing an employee is no longer an easy thing to do. Employees can cry out that it was an unfair workplace or there was discrimination involved. These type of allegations could put you at risk of a lawsuit. While I believe 99 percent of these types of allegations are from people that have been babied way too much during their lives, a court may find it differently. An attorney will be able to guide you properly through a complicated situation such as this. They have seen everything.
Having a lawyer on call is just a way of life for a successful business owner. In a society that is lawsuit happy, it is an unfortunate reality that we all will have to lawyer up at some point. Do your research and find an excellent lawyer that will provide guidance. Their knowledge of the law may actually pay for their service many times over in the long run.