While most small business owners don’t think that they will ever need a lawyer for their business, it is important that you have a relationship with one. Even if you aren’t worried about being sued, there are many other times when you should have a lawyer for your business. Here are just three reasons why you need a lawyer for your business:
A lawyer will help you set your business up correctly.
It is important that you understand why you should set your business up as a sole proprietorship, limited liability company (LLC), limited liability partnership (LLP), or an S corporation. While most people don’t really understand why you should choose one over the other, a lawyer will make sure that you understand the reasons and start your business off right.
The law is complicated.
Legal forms are often hard for most people to understand. For this reason, you should consult a lawyer prior to signing any paperwork. A lawyer will also help you with your forms and contracts, so you will know that it is all legal.
It can be expensive!
It is good to have a relationship with a lawyer before you would ever need their services. Not only are they good sounding boards prior to signing a contract, it is good to have one on your side prior to any legal troubles. If you wait until you are stuck in court, it might be too late and end up costing you a lot more money than it should.
Remember, running a business successfully does not need to be complicated. Keep it simple!
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Manny Skevofilax is a consultant and speaker that assists his clients with successfully navigating the challenges of growing their businesses profitably. Since 2003, Manny helps businesses to enhance their financial results by using his experience in strategic planning, financial statement analysis, operations, and team-building. His consulting firm, PORTAL CFO Consulting, Inc., has attracted clients from diverse industries in the United States and abroad.
Manny can be reached at 410-808-3441 or via email at email@example.com.