Preventing business disputes could be a crucial cog in the progression of your business. Working with a legal professional can save you time and money and enhance your business’s professionalism.
If you go to federal criminal court without a lawyer you have a one in three chance of ending up in prison. Having legal counsel can change the outcome of your destiny. Starting a business or partnership with the support of a legal professional could save you time, resources, and business relationships.
What does a business lawyer do?
A business lawyer can provide valuable insight into trademark and copyright law, zoning ordinances, business licensing, determining liability, and protect your business from lawsuits. A business attorney has the necessary knowledge to help your business interact with the government, the public, and other members of the business.
Business lawyers can litigate in court but typically there are better, and more cost-effective solutions. As a business owner, you want to be focused on running your business instead of resolving disputes and even little mistakes could cost your business thousands of dollars.
A business lawyer can help you create policies and procedures that protect your business from mistakes. An attorney can help your business standardize your documentation to your industry and reduce the risk of disputes regarding contractual agreements. An adept business attorney also can help with employment negotiations and establish hiring and firing protocols that sync with current employment and law practices.
When should you consult a business lawyer?
A business owner can consult a lawyer for assistance in the following areas:
- Incorporating their business entity
- Negotiating contracts with new employees, customers, and suppliers
- Establishing the terms of services for licensing agreements on websites, and software
- Obtaining trademarks, patents, and other copyright materials
- Fundraising and protecting your investors
- Determining the equity and ownership rights of the company and evaluating the tax consequences
- Owning your intellectual property
- Alternative Dispute Resolution
If your business is being sued before you seek legal consultation, then the costs will be more expensive. Often business owners wait until they’re in a legal bind before consulting with a lawyer but in that instance, all they can do is calculate how much damage the lawsuit will bring against their business in fees, settlements, and other expenses. Contact a skilled attorney like Lawyer Parikh to ensure that your business is protected before it’s too late.
How much does a business lawyer cost?
Business attorneys can offer different approaches based on your needs and services. If your business is a larger firm with more employees and resources then the costs will be determined by your needs. If you’re a smaller start-up hiring a business attorney to help incorporate your business, then those services require less time, and attorneys can offer a flat, often discounted, rate. It’s essential to ensure that your flat fee includes disbursements like filing fees and mailing charges.
Business lawyers bill their time in different manners including hourly or daily rates, flat service-based fees, on contingency for lawsuits, on retainer for clients needing routine advice, or value billing based on how much money they save their clients. Hiring a business attorney may seem costly in the initial phases of your business but in the end, it could prove to be much more valuable than it initially appeared.
