9 Ways A Lawyer Can Help Protect Your Business
Whether you are starting a business or already in business, having a lawyer by your side is paramount to helping you ensure you’re taking the proper steps to protect yourself and your business and setting yourself up for future success. NextGen Counsel is not your typical law firm. By utilizing a subscription plan and flat-fee model, we aim to provide you with access to quality and affordable legal services to allow you to avoid or get ahead of legal issues before they become a bigger problem and expense.
At NextGen Counsel we can help you in a variety of ways.
1. DECISIONS DURING THE IDEA STAGE
There are many decisions to make that will affect your business. Things you should consider:
What will you name your business?
Is the name available?
What will you use as your marketing tagline?
Are you able to use it without encountering legal issues?
What logo will you use?
Are there any possibilities of copyright infringement by using that logo?
Where will your business be located?
Will you be virtual, or will you require a physical space?
Are there licenses or certifications required for your business where you operate?
2. BUSINESS FORMATION
Another decision you will face is what type of business entity you want to form. This shouldn’t be taken lightly. This decision has short-term and long-term consequences and requires consideration of both your immediate and future business plans. Check our website for a recent article, “The ABCs of INCs.”
3. CORPORATE FORMALITIES AND GOVERNANCE
It is strongly advised to keep your business finances separate from your personal finances for many reasons. If there is more than one owner, decisions must be made pursuant to an agreed upon process. An attorney can guide you on how to observe the corporate formalities necessary to separate yourself from your business.
4. INSURANCE
Take this seriously. Having the right insurance is critical for you and your business. As a business owner, you are responsible for the products or services you provide to clients and customers. Having an attorney help you determine the proper coverage is important. An attorney can help ensure it is done right and will also make sure you are protected should something happen.
5. INTELLECTUAL PROPERTY
An attorney can help you with protecting your trade secrets, handling copyrights, or protecting your product or designs. In some cases, businesses might require the help of a patent lawyer should they need to protect an invention. We have a patent lawyer referral should you need one!
6. EMPLOYEE POLICIES
There is a lot to consider when adding employees to your business. Having an attorney by your side can help with employee handbooks, employment agreements, termination procedures, wage payment requirements, and more. We will be doing a few posts soon that speak more specifically and provide advice on what to do and what’s required when you have employees.
7. CONTRACT OVERSIGHT
Contracts are an incredibly important to your business. As a business owner, there is going to be a point where you are creating contracts and/or being asked to sign contracts. You should read through and feel comfortable that you know what you’re signing. No detail should be overlooked otherwise you could be liable without knowing it. Having an attorney review before you sign is always recommended.
8. DISPUTE ADVOCACY
At some point, you might have a legal dispute arise. We don’t recommend trying to resolve it on your own. You should have an attorney by your side who you feel comfortable with, someone you can trust, and someone who you believe will be able to advocate for you and push to get you the resolution you deserve.
9. FOCUS ON YOUR BUSINESS
Finally, having an attorney by your side takes a lot of pressure off of you and enables you to focus on running your business. We know you started your business to follow your passion, not to deal with legal matters!
Let’s be real! Starting a business is tough. There are legal implications based on the decisions you make in starting or running your business. Rather than face it alone, it’s much easier to tackle this with the support of an attorney who you know and trust. Plus, you get piece of mind, which is priceless!
Disclaimer:
Information contained in this post is for the general education and knowledge of our readers. It is not designed to be, and should not be used as, the sole source of information when analyzing and resolving a legal problem, and it should not be substituted for legal advice, which relies on a specific factual analysis. Moreover, the laws of each jurisdiction are different and are constantly changing. This information is not intended to create, and receipt of it does not constitute, an attorney-client relationship. If you have specific questions regarding a particular fact situation, we urge you to consult the with Michael H. Ansell, Esq., or other competent legal counsel.
