In case you own private business, you’re probably often worried about many things – as the owner, you have to juggle so many obligations while also taking care of the employees and the quality of work.
Somewhere down the line, you may have forgotten to find a good lawyer for your firm. Well, make it your priority right now. It could turn out to be a crucial factor affecting the success of your business for many reasons.
1. Drafting and signing contracts
Whether you’re the one drafting the contract or the one signing it, you will need a professional to make sure everything is clear and valid. There are various situations in which a contract will be included, so get a lawyer to help you out with it. In case you have drafted an ambiguous contract, the court will always be in favor of the party who hasn’t drafted it. In case you’re signing it, your lawyer will warn you of potential dangers and check out the final print.
2. Protecting intellectual property (IP)
Every business has plenty of IP, including copyrights, trademarks and patents. All of them should be legally protected and you need to be aware of the appropriate mechanism to do it. First of all, you need to know which steps to take in order to have the right to call an intellectual property your own. The digital world of modern times will frequently require you to take emergency actions, and a good lawyer will prepare you for them.
3. Commercial disputes
Unfortunately, commercial disputes have become somewhat of a common thing these days. Some of the reasons for a dispute would be an incorrect invoice, a supplier who isn’t delivering the paid goods or a customer who refuses to pay an invoice. Many skillful business lawyers have managed to save the owner from losing a considerate amount of money. You need to accept the fact that a dispute will happen eventually and you need to be prepared for it.
4. Lawsuit protection
Not every lawsuit is unavoidable. Actually, a significant number of them could have been avoided if there was the right lawyer to negotiate and settle on your behalf. A lawyer can also serve as an advisor and offer techniques which will provide legal insulation. Whether you’ll get insurance or save the LLC – chances are your lawyer will come up with the best possible solution. In return, you will save yourself a lot of money (if nothing else, then for court expenses).
5. Issues with the staff
Working with people can turn out to be the most stressful thing you’ll ever do. When it comes to letting some people go, it’s sometimes hard to tell the difference between a justified termination and a wrongful one (which would almost definitely lead to a lawsuit). Workplace safety is the next common issue – it’s hard to know for sure when certain safety matters are within your domain. These sensitive issues simply have to be work through with a skillful lawyer. That is the only way where you could avoid a potential catastrophe.
Final comment
Running a successful business doesn’t mean you should be tucked in, believing things will keep going your way. People make mistakes (including you), so you need to have everything covered and be prepared for the worst scenario. Lawyers are people who are very good at predicting things and making sure most of the potential dangers are removed before they even have the chance to appear. By having a reliable lawyer, you will minimize the threats.
Mike is an Australian business consulting specialist. He’s working with companies that outsource their IT maintenance. He often writes about technology, business and marketing and is a regular contributor on several sites.
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