How do you know the time has come to hire an attorney for your business? If you’re already in business, the time is now. Business owners need to have someone they can trust with confidential information as well as their business needs. Business lawyers can help assess risk, draw up contracts, and policies and procedures that protect you and your interests. But most importantly, they are a valuable resource that can help guide you through difficult situations many business owners commonly face. With that being said, here’s why you should hire an attorney for your business.
1.) Lower Costs In The Long-Run
In the early stages, most business owners tend to shoulder the legal needs of their business through free or low-cost resources such as Legal Zoom for instance. Platforms like that may work well in the short-term, but cannot provide adequate protection in the long-term. These resources are not built to protect a business; rather, they are created to provide quick fixes and fast results that tend to result in expensive lawsuits.
If business owners follow this type of business model, they can actually find themselves spending more money and wasting resources. These often time-consuming situations create more stress not only on business owners, but on their business as a whole.
Most businesses don’t take into consideration what each state allows their business to do. For example, Texas does not have state property taxes, and they do not tax businesses on corporate or individual income, creating a lower tax burden. This is not the case for places like California or New York where they have high tax burdens. If you are wanting to start a business, it is important to consider what your state allows so you know how to navigate your business’s tax requirements in a responsible way.
2.) Attorneys Can Help With Contracts and Agreements
In business, contracts often need to be drawn up outlining specific terms and conditions. Using generic templates downloaded from the internet, or copying a competitor’s already existing contracts and agreements, opens the door to expensive and time-consuming lawsuits.
These fast, simple means to draft contracts are only beneficial for your business in the short-term. They are not designed to last, nor are they designed to protect you legally or financially due to their generic nature.
An attorney can help protect your business by carefully drawing up a contract unique to your business. Although an investment upfront, contracts drawn up by attorney’s save potentially tens-of-thousands-of-dollars in the long-run because they avoid contract liability and limit lawsuits.
3.) Customer, Client, and Employee Disputes
Disputes happen in business. Whether client, customer, or a disgruntled employee, it’s a natural part of business. If a dispute occurs, hiring an attorney helps to analyze the situation and determine next steps. This could potentially help you avoid an unnecessary lawsuit.
As soon as a complaint is filed, hire an attorney to represent you. Too many times businesses have failed because of costly and time consuming disputes. Above all, never deal with disputes on your own and don’t sit on it for too long.
Business attorneys can also help with any employment issues. Since employment law evolves constantly, hiring a lawyer that specializes in employment law helps address any expectations or rules by drafting employee manuals, mediating any conflicts between employees and employer, and they can help oversee employee records.
Is It Time To Hire An Attorney For Your Business?
The best thing a business owner can do to avoid these issues is to hire an attorney from the beginning. Attorneys can reduce liability by assisting you in forming your business entity, drafting up contracts, and helping with legal disputes. Putting off legal protection never pays in the end.
Need to hire an attorney for your business? Clausewitz Reyes is made up of a team of experienced business attorneys in San Antonio who have helped numerous businesses minimize their liability. Contact us if you need help protecting your business.