As a business owner, there is so much that you need to do for the day-to-day running of your organization. There are better things to do than struggling with reading and understanding rules. It is better to outsource some responsibilities to business lawyers and other professionals.
This article will help you to understand the job description of a business lawyer. Knowing what these experts actually do will help you decide whether you really need them. You will also learn some of the common mistakes that business owners make and the misconceptions that they have regarding the law.
Who Is A Business Lawyer?
Before discussing business law, it is good to start by answering this simple question; who is a lawyer? There are so many types of lawyers and they tend to have a diverse set of skills and specialties. Some attorneys prosecute and defend criminals while others advocate for civil rights.
You will also find lawyers who will successfully finish their careers without stepping their foot in the courtroom. It all depends on the type of law practice that you are engaging in.
On the other hand, the specialty of business lawyers is well-rounded. These experts can review contracts, consult with business owners, negotiate complex deals or litigate in the courtroom. This is just a small fraction of the situations that business owners find themselves in.
The best business lawyers are knowledgeable and flexible problem-solvers. These experts will always look for the best way to help you as a customer.
The Role Of A Business Lawyer
The primary role of business attorneys is to help business owners solve problems. The lawyer will help you to understand the problem that you are facing and the ones that you are likely to face in the future. Even if you are looking for a small business lawyer, here are some of the problems that he will help you to solve.
1. Starting A Business
To start a business, you need to choose between various business types like an S Corp, an LLC, and many more. If you make the wrong decision, it will be incredibly costly to fix the problems that may not be apparent for several years. The best business lawyer near me will help you to make the right business startup decisions.
2. Writing Of Contracts
You need certain forms to bring on a new customer or hire employees. In some cases, you may need to sign certain waivers. There are certain clauses that should not miss out on the forms. The business lawyer will help you to draft contracts that precisely meet your unique business needs.
3. Breaches Of Contract And Disputed Contracts
What will happen in case a contract is disputed? An employee can share the secrets of your business or a customer may refuse to pay. In such a case, business lawyers will advocate and negotiate on your behalf. The process also entails filing a lawsuit if it is necessary.
4. Mergers And Acquisitions
Are you planning to buy out a competing business? A bigger company could also be thinking of acquiring your brand. The third scenario is if you would like to join forces with another company. The best thing you can do is to have a small business lawyer near me to guide and advise you through the process.
5. Resolving Business Claims And Issues
Even the well-meaning and most prepared business owners can run into issues that are related to sick leave and disability, workplace safety, and discrimination. Business lawyers educate their customers on the best industry practices and applicable laws. These experts will also represent you whenever an issue arises.
6. Compliance And Risk Management
Both established and new businesses benefit from the services of experienced business lawyers. These experts will advise you on compliance matters and help you develop systems that monitor and minimize business risks.
7. Real Estate and Property Disputes
Whether your business leases property or owns it, there is a high possibility that you will need the services of a business lawyer. The attorneys negotiate leases and sales; navigate confusing and complex real estate matters and tenant laws.
8. Attending Court
The other concern would be whether business lawyers go to court. The answer is an outright Yes. These are expert litigators who provide excellent representation in the courtroom. Apart from getting a better solution to the dispute, you will be able to save a lot of time and money.
When To Consult With An Attorney As A Business Owner
There are certain instances that require you to consult a lawyer as a business owner. Fixing even seemingly trivial, honest, and simple misunderstandings and mistakes can cost your business thousands of dollars. In most of these cases, consulting even a small business lawyer can help you prevent some of these mistakes.
Let one tell you that you don’t need a lawyer even if you own a small business. There are some things that you will not be able to handle on your own. It is better to spend your time running the business than trying to solve legal issues by yourself.
Business Lawyer Fees
The other important thing to understand is how small business lawyers charge for the services that they provide. Most of the fee structures are flexible to help your growing business to manage its costs in an effective manner. The main approaches include:
It is not hard for a small business lawyer to forecast how long it will take him to resolve your matter. The attorneys will set aside a certain number of hours for the task.
The hybrid structure brings together the benefits of contingency and hourly fees. It maximizes the return on investment and gives a clearer expectation of the work that the lawyer will be doing.
There are lawyers who exclusively charge an hourly rate. However, make sure that this does not give the law firm the incentive of spending more time in order to maximize the revenue.
When looking for a business lawyer, you have to choose the one who will guarantee you maximum benefits from their services. The attorneys will help you solve any legal matters that touch the day-to-day operations of your business. The most important thing is to get a reputable business lawyer to work on your project.