As an entrepreneur launching a new venture or an owner running a business, you may wonder when it would be the best time to hire a business attorney. A business attorney can help start-ups from their inception and assist existing businesses with their growth and expansion. As a business owner it is crucial that you prioritize your time and energy on tasks directly related to your business, such as creating a business plan, hiring employees, identifying vendors, and running the day-to-day. Having the help of a business attorney to assist with the legal obligations of starting and running a business allows business owners the freedom to handle all that running a business entails, while also having the security that the legal obligations are being handled properly. No matter what your needs are, working with a business attorney can ensure you are operating efficiently and lawfully.
A new business may find themselves overwhelmed with the requirements to start operating. Certain decisions need to be made early on, such as the type of legal structure to create. This is when a business attorney can add value by setting up your business and filing all the legal documents, while establishing certain protocols to prevent you from future liability and litigation. Other activities include obtaining specific licenses and permits that are required depending on your type of business, securing a trademark, and creating contracts to protect your business from future liability. Setting up the business correctly in compliance with the law and in your best interest can save you from legal issues down the road and save you money in the long-run.
There are advantages for established businesses who work closely with a business attorney. As laws change, businesses need to remain compliant and a business attorney will notify you if you need to take action. Hiring a business attorney becomes even more important if you come across issues such contract negotiations, partnership disputes, or sale of shares or the entirety of the business.
Being proactive by working with a business attorney can provide you peace of mind and mitigate any issues you may come across.
No matter where you are in the lifecycle of your business, hiring a business attorney can be a resource whether you are simply seeking guidance or have a complicated issue. The Portalatin Firm has been working with hundreds of businesses throughout the country for a variety of matters. Contact our office if you have any questions regarding your new or established business.