Four Key Ways an Attorney Can Help Your Small Business
Every business, regardless of size, needs an attorney. Large corporations typically have legal counsel on staff full time. In fact, they may have an entire legal department whose job it is to protect the company from any potential liability. While it may seem as though a small business would not need this kind of assistance, that is simply not the case. Yes, having an attorney on staff or a whole legal department for a small business is likely overkill, but having an experienced business law attorney on retainer is one of the best ways you can protect your business, your investment, and yourself.
An attorney can help your small business in a variety of ways, including:
Protecting the business from liability. From contracts to licensing to marketing and advertising and everything in between, businesses of any size operate under a tremendous amount of risk. Even small businesses must adhere to the many laws in place or risk being penalized. This is especially true for small businesses, which because of their size do not always have margins large enough to absorb the hit from a lawsuit or the expensive fines and penalties that can accompany legal violations.
A knowledgeable business law attorney understands the state and federal regulations relating to every aspect of successfully operating a small business here in Nashville and can protect your company from any unforeseen or potentially problematic legal issues. This includes but is not limited to hiring practices; matters involving employees, contractors, and consultants; licensing and copyright matters; regulatory issues; marketing and advertising; sales practices; environmental regulations; and more. From starting up as a sole entrepreneur to becoming an LLC or incorporating your business, an attorney can help you every step of the way and protect you and your investment at each and every stage.
Mitigating damage to your business. A business attorney can proactively protect your business from potential legal problems, but even when you have all of your legal ducks in a row, so to speak, issues may occur. When they do, it is crucial that you have a skilled Nashville business law attorney in your corner. Perhaps another company is claiming you infringed upon their trademark and has filed suit or demanded payment against your business. Or maybe you had to terminate an employee for cause who is now claiming they are a member of a protected group and have suffered discrimination. Or what if an employee suffers an injury while on the job? They could file an injury claim against your business. In any of these hypothetical scenarios – or any other situation – you will need to defend your company against legal claims. Whether those claims are unfounded or not, they cannot be ignored. These matters must be handled promptly and correctly in order to mitigate any damage to your business. And, in the case of claims that might damage the reputation of your business, an experienced business attorney can help resolve the matter as efficiently, effectively – and quietly – as possible in order to minimize the impact on your business.
Helping the business maximize profit. The goal of a business is to turn a profit, and for anyone who has invested in the business, the goal is to turn as large a profit as possible. In order to do so, it helps to operate under the most favorable conditions possible – favorable for your business, of course. This means ensuring that, whenever possible, business contracts are drafted and negotiated or even renegotiated to your company’s advantage. This includes contracts with employees, customers, and suppliers, among others. While it is your job to work out the best possible deals financially, an experienced attorney can ensure that any contracts are legally sound. In addition to creating or negotiating beneficial contracts, an attorney can also help enforce the terms of contracts. If a customer is not paying their balance or a supplier has not delivered on an order, your business attorney can follow up through legal channels to resolve these issues.
Providing strategic legal counsel. As the owner of a small business, the decisions you make each day impact the success of your business. And, while you are an expert in your business, you are not necessarily an expert in the local, state, and federal laws that regulate businesses in general or your industry in particular. The right attorney should understand the law and how it can potentially impact your business, and be ready to advise you on legal matters so that you and your business are protected from potential liability. Moreover, they should provide the legal perspective you need in order to make decisions that benefit your organization. As your business grows and expands, your attorney can advise you regarding financial and regulatory matters as well as the actual structuring or restructuring of your business. Even growing from a small to a mid-sized company can bring with it new legal complications and challenges. A trusted attorney can provide the strategic counsel you need in order to ensure your company’s continued success.
Selecting a business attorney in Nashville.
Whether your business is a start-up or already established, it is crucial that you have an experienced attorney on your side The right attorney will work and advise you to protect your business and your bottom line – both proactively and on an ongoing basis. That is what we do at the Law Office of Perry A. Craft, PLLC. We provide strategic legal counsel to small and mid-sized companies throughout the Nashville area and we are dedicated to your success. Call us or fill out our contact form today to schedule a consultation with an experienced business attorney.
Perry A. Craft has dedicated his life to helping people in need. He has tried, settled, or resolved numerous civil and criminal cases in State and Federal courts, and has represented teachers and administrators before school boards, administrative judges, and the state Board of Education. Learn more about Attorney Craft.