You may have the greatest new idea in the world, but without the proper establishment of your company, you are likely to fail. To prevent this from happening, especially if you are not a business-minded person, you may hire various professionals in the industry to help you, such as a marketing consultant.
However, have you added a lawyer to the list? You may not think you need legal representation at this point, but there are many reasons why hiring an attorney now can help you to succeed.
Ensure you are following the law
Business professionals may know how to make your company grow, but lawyers know how to make your business legal. The last thing you want is to face hurdles, fines or a shutdown due to noncompliance of a regulation you are unaware of. Hiring a business law attorney will ensure you choose the correct structure for your company type and meet all laws pertaining to your industry.
Protect intellectual property
With technology and communication so advanced, it is easier for people to steal your products, graphics, website content and more. A lawyer can help handle copyrights and trademarks and take legal action against those who misuse your intellectual property.
Running a company involves interacting with employees, clients and partners. These interactions require contracts to set the terms of the business relationships. When hiring employees, you need agreements that include details such as noncompete clauses, vacation days and termination. With clients and partners, you need legal documents that outline obligations and liability. Your attorney can create solid contracts for you and review those you receive before you sign them.
No matter what type of small business you start, you will always have legal matters to deal with. Having a qualified attorney by your side from the beginning can prevent you from experiencing some setbacks on your way to success.