Nowadays you don't need much capital to get new company up and running, and in many cases you can legally form a business entity all on your own. Accounting software makes it easier for business owners to determine their tax liability and make on time payments to the federal government and their states of residence. Even when it comes to writing contracts, agreements, and hiring employees, there are a multitude of forms that you can either purchase or download online that make the process of forming a business simple and easy.
While you can do a lot of things as a new business owner, doing everything yourself can put you in serious risk when it comes to business law. You don't want to accidentally infringe on another company's copyrights or go about the hiring process in a manner that is contrary to local regulations. In the end, going into business without consulting with a business law professional could increase your chances of being sued, fined or even shut down simply because you didn't know what rules you should've been following. For three more reasons that go into the specifics of why hiring a lawyer to help organize your business is crucial, continue reading below.
1. It Reduces Your Liability As A New Business Owner - There's always going to be something that you forget to setup as a new business owner. It could be forgetting that you need a merchant account to process credit card payments or not ordering a new sign to put up outside of your establishment. While most errors are pretty simple to fix, you don't want to make a mistake that exposes you to business liability issue. Get a business law professional to check your insurance policies, licenses and permit applications and you can host your opening day without being distracted by nagging concerns.
2. You Get To Defer Potentially Contentious Matters To Your Attorney - If a customer were to slip and fall in your store, as a new business owner you would likely act in a manner that is caring and courteous. At the same time, you don't want to take responsibility for an accident that may not be your fault especially if you don't know what the full expense is going to be. With a business law attorney on your side you can step back and allow all contentious situations get resolved by a legal professional.
3. You'll Receive All The Paperwork You Need To Back You Up In Court - Once you have a new company that is running smoothly, you can safely assume that you won't be taken for surprise if you have an attorney. Whether you end up getting served or simple have the threat of legal action being leveraged against you, all you need to do is call your business law attorney and have him or her set the entire record straight.Share