Not sure if a business lawyer is the right move? Running a business is hard enough. Don’t make things even more difficult. Here are 5 reasons why hiring a business lawyer could pay off.
1) Not having a lawyer might cost you. You are a young business, cutting costs and pinching pennies to make things work. Your business is running smoothly until you get a notice from the state ordering you to comply with a regulation you’ve did not know existed. Now you have a problem that could get expensive quickly. Hiring a business lawyer BEFORE that notice arrives could prevent that notice from ever appearing in your mailbox. This leads to the second reason…
2) Avoiding problems is far less expensive than fixing them. A good business lawyer can spot potential pitfalls for a business before that problem even arises. The cost to avoid a problem is minimal compared to the alternative.
3) The law is complicated. What is a pleading? Why am I being sued? Why are there so many rules and regulations? The law can be very complicated – and time consuming. Having a business lawyer on your “team” and familiar with both you, your tolerance for risk and your industry can keep your business out of litigation in the first place. In the unfortunate instance a lawsuit does arrive, having a business lawyer on your “team” may allow you to quickly right the ship rather than be shopping for a lawyer, with a lawsuit in hand. You are good at running your business, let your business lawyer handle your legal issues.
4) Chances are, your competition has a business lawyer. Business lawyers don’t just cost you money – a good business lawyer will give you an edge in running your business as efficiently as possible. If your competition has a business lawyer, it is likely they are many steps ahead of you.
5) What Will a Consultation Cost Me? Good business lawyers do not charge for an initial consultation. After all, it should be a relationship you are developing. You would not work with service providers you do not like or respect. Your business lawyer is no different than the others. An initial consultation allows you both to meet each other and explore the possibility of a long-term relationship. Find someone willing to sit down and discuss you, your business and your goals and you may just learn that your business cannot afford to be without a business lawyer.