Your business is important and should be kept secured. Therefore, certain cookie-cutter templates for contracts, or legal tutorials you may find online may not be the best solutions for your unique needs.
We suggest all businesses hire a lawyer who values and understands their brand. A small business lawyer can become a true strategic partner, helping you and your business embrace exciting opportunities and avoid unwanted disputes.
Unsure why you would hire a business lawyer? We have outlined the most important occasions when you should seek legal counsel for your small business.
Contracts
There are many contract templates available online for you to use, but without the right guidance, expertise and knowledge, you may do more harm than good.
Through years of training and experience, a lawyer has the ability to clearly draft a contract specific to your business and each party to anticipate problems that might arise.
When reviewing contracts that other people have written, lawyers keep an eye out for key terms that might be missing and suggest additional clauses if needed.
If your intention is to grow your business and rely on your contracts it is imperative that they are legally enforceable, otherwise as the old saying goes, they may not be worth the paper they are written on.
Choose/Changing Business Structures
Regulations and legislative changes over the past few years may have prompted a change in your business structure. The best person to know what changes are applicable to your business is a lawyer.
As there are different types of business structures, choosing which option is best for your business is best done with legal assistance. Even if your business has changed, or grown to the point where you want to change the structure of the business, knowing what legal changes need to be done to properly expand a business is something you should get legal advice on.
Incorporating a Business
Navigating the many forms and legal documents required to incorporate your small business can be overwhelming. Although there are online options, the true papering of your corporation takes please after the formal government paperwork, including your company bylaws, minute books and share certificates.
Incorporating a business includes, but is not limited to:
- Reserving a Name
- Creating a Corporate Share Structure
- Articles
- Post-Incorporation Documents
Each step has its own set of rules and regulations that need to be followed. Instead of guessing yourself or using Google as your aid, it’s best to consult a lawyer.
Intellectual Property
Intellectual property (IP) encompasses a few different elements – typically it refers to the creations of the mind, such as inventions, art, design, slogans, etc.
Taking the right steps to protect your IP from exploitation is important and should be done immediately. The reason for that is, that if your IP can be beneficial to large venture capitalists, corporations or other financial institutions, you want to be able to get funds for your creation.
Conclusion
Before choosing a lawyer for your unique business, be sure to do some preliminary research and determine when you would like to hire, and who is the best fit for your needs.
As every situation is different, it’s hard to give a quick answer to questions related to business law. Taking the time to talk to a business lawyer at Epstein & Associates about your concerns is a great place to start.
Feel free to call our office today to book a free 30-minute consultation.
This blog is made available by the law firm publisher, Epstein & Associates, for educational purposes. It provides general information and a general understanding of the law but does not provide specific legal advice. Any specific questions about your legal concerns please contact us now and speak to an expert today.