Deciding whether and when to hire a business lawyer can be tricky. While paying an attorney’s hourly rate can seem expensive, it can save a company a great deal of money in the long run. Many companies only hire lawyers when they’re facing a significant legal issue, but using a lawyer before things get out of hand can prevent serious legal problems from occurring at all. Although there’s a lot small businesses can manage on their own, it can pay to have a business lawyer involved when creating contracts, dealing with human resource issues and collecting debts, among other things.
Do It Yourself
Businesses can save money by taking care of certain matters on their own. For example, many of the responsibilities that a business owner takes on when establishing a business can usually be handled without an attorney. For example, creating a name for the business, purchasing a domain name, and writing a business plan are fairly straightforward. You can apply for an employer identification number on your own, and you can consult with the city to determine what licenses and permits are required to start your business.
Get a Checkup
Other tasks are easy to manage on your own, but it can be useful to have an attorney look over certain documents. The U.S. Small Business Administration provides resources for business to learn more about employment and labor laws, but it can also help to work with an attorney when setting up policies surrounding wages, benefits, safety and nondiscrimination.
When you’re writing up contracts or entering into legal agreements, it can be enticing to take a shortcut by trying to do it yourself. This includes lease negotiations and real estate transactions. Consulting with a legal expert can ensure that no problems arise from these agreements in the future.
Hire a Lawyer
When liability issues surround any business practice, your best bet is to hire an attorney. If an employee sues the company for discrimination, wrongful termination or sexual harassment, you’ll certainly need legal assistance. However, you don’t have to let it get to that stage by working with an attorney to set up appropriate hiring, firing and employee conduct policies.
Along the same lines, if you’ve enlisted an attorney in setting up your financial, human resources and legal policies, you’ll likely avoid the possibility of being investigated for any violations. If you’re trying to collect a debt from clients or partners, an attorney can make sure you’re representing your business accurately and ensure you receive the money you’re due.
If you’re a business owner or executive responsible for making crucial decisions about company policies, consulting with an attorney can help you prevent serious issues before they occur. The experts at Garrison Law Firm have years of experience providing business law advice and can help you determine the best way to manage your company’s legal issues.