As a enterprise owner you must realize the importance of having lawyers on hand. You don't necessarily need a attorney on retainer, but you should certainly have a trusted business attorney in your contact list. Here are a few reasons why your enterprise might die without a attorney.
Litigation assistance
The clear use of lawyers is to fight for your enterprise in litigation. This could mean collecting debts on your behalf. Or you might require a attorney to defend your enterprise in a personal injury action. Perhaps you need help to fight for your rights in a landlord / tenant dispute. A good attorney can help with all these issues.
Contract assistance
Enterprise owners are constantly dealing with contracts. But if you don't know exactly what you're agreeing to, your enterprise could be in serious trouble. Having a reputable attorney review your contracts and assist during the negotiations will ensure that your rights are solidly protected. Strong contracts can propel businesses to success, but poor contracts can put you out of business.
Formation guidance
Even before your enterprise starts, you should consult with your lawyers. They are the best resource for helping you determine what type of business entity you should start. There is no one-size-fits-all business entity; that is a myth that some people might want you to think. A good attorney can talk with you about your needs and help you decipher what type of entity you should start.
Tax advice
We all dread Uncle Sam. But you don't have to face the tax guy unarmed. If you discuss your tax situation with your attorney and financial advisor, they will be able to ward off potential problems before the IRS comes to knocking on your door. None of us want that!
Business advice
Even though lawyers specialize in the law, they can also help your enterprise with regular business advice. They regularly deal with similar clients who are contemplating similar decisions as you are, so they can pour some insight into your decision-making process. In this sense, your attorney can become truly a trusted counselor.
Don't let your venture die
As you can see, a attorney has many roles to play in a successful venture. Without this key player on your team, your enterprise most likely won't succeed. At the very least, you are asking for legal trouble in the future. Protect yourself and your enterprise. Hire an attorney.
