Many people who are starting or running a small business out of their homes may not think that it is important to hire a business lawyer. They may believe that lawyers are too expensive or that they will handle their legal situations as they arise.
The reality is if you are prepared ahead of time, a business attorney can help protect your rights and assets if risks or negative circumstances emerge. A project or task starting as a way to make extra money can quickly blossom into a legal headache if you accidentally run afoul of the law. Regardless of how small your business is, likely you will experience unexpected challenges that will quickly make you realize that an attorney is a vital part of your business.
Why does my small business need a lawyer?
When starting a small business, you most likely do not know the ins and outs of the legal areas regarding the small business world. You can make costly mistakes along the way. Business attorneys can help ensure that you’re on the right track and that your company is operating within the law. Here are a few ways that your business may benefit from a lawyer:
- They can help you minimize risks: No matter what type of small business you have, you will face different risks. That said, it is highly recommended that you have a business attorney who will help you minimize and avoid the risks as much as possible.
- They can make sure that your business is compliant with laws: When you are operating or starting a business, you need to make sure that it is up to date and following the laws and regulations set by the local, state, and federal government. A business lawyer will do everything they can to ensure that your small business is compliant with all laws and regulations.
- They can help you develop agreements: With any type of business, you need to develop legal agreements and documents that explain what is expected of your employees, customers, vendors, partners, and more. A business attorney will help you create these agreements and put them in place to ensure that you and others follow them. As you can see, hiring an attorney is an essential part of your business. They can help you understand many aspects of the small business process as well as help you handle various legal battles that may surface.
When does my small business need an attorney?
It’s never too soon to hire an attorney. Working with an experienced lawyer from the ground up ensures that your company is protected from the moment of its inception. Not only could this prevent a lawsuit in the future, but it can also ensure that you identify and prepare for any potential pitfalls. Your small business lawyer can help with:
- Choosing your company’s name
- Deciding whether to have an LLC, partnership, sole proprietorship, etc.
- Contract issues
- Employee issues
- Natural disasters or pandemics
- Vendor problems
- Loan or lease issues
- Permit or license issues
- Customer disputes
- Hiring and firing
We can also craft buy/sell agreements, create retirement and severance packages, and help with franchising if your small business expands. If you are served with a lawsuit, we are prepared to represent your best interests during negotiations and litigation.
The bottom line
Even though it is not a requirement to hire a business attorney to start a small business from your home, it can affect the overall success of your business. For example, if you spend a lot of time marketing and getting your business off the ground and end up facing fines or lawsuits because you breached a contract or did not follow certain laws or regulations, all that time and effort will have gone to waste. Instead, you will be spending your time searching for a lawyer and paying expensive litigation costs to fight your legal battles. Therefore, it is strongly suggested that you prioritize hiring a business lawyer to handle the details of your business at your earliest convenience. This will benefit you, your workers, customers, suppliers, and more.
If you have a small startup business and need a business lawyer who will remain in your corner, contact The Law Office of Perry A. Craft, PLLC today. We will step in and evaluate your business plans, finances, contracts, and more. By choosing Nashville attorney Craft to help you with your business, you can put your mind at ease knowing that your best interests are always taken into consideration and that your business is successfully operating in compliance with the laws.
Call our office or submit our contact form to schedule your consultation to begin discussing your small business and what it needs to run smoothly and efficiently. Perry A. Craft has over four decades of experience helping clients with their small businesses, and he looks forward to assisting you with your business as well.