When Should Your Business Retain an Attorney?

When should your business retain an attorney? Whether your company is large or small, having quick access to business lawyers can be instrumental to your success (and sanity). You never know when you will need a lawyer, so retaining one in advance is both smart and useful if you own a business.

Having a lawyer on retainer will save time down the line when you need legal guidance.

There are various reasons to retain business lawyers. Here are some examples:

You Have Employees

If you ever have a dispute with your employee, you may need an attorney for legal counsel. Employees sue for claims such as workplace injuries, harassment, and discrimination.

In the event that an employee or former employee files one of these claims against you, an attorney can defend your case. Retaining a lawyer now is smart so that you can ensure you have legal support when you need it.

If you do not have employees yet, you might not need an attorney. However, if you plan to hire employees in the near future, an attorney can help you see what needs to be done so that you are in compliance with the law.

You Fall into a Special Tax Class

Taxes are among the most confusing parts of operating a business. If you have high revenue and want to ensure you are managing your taxes accordingly, an attorney who specializes in taxes can be instrumental.

Some industries, such as beer, wine, and spirits, can get complex fast. Having a lawyer on your team gives you peace of mind when filing your taxes each month (or whatever schedule you have).

You might also wonder whether it is time to incorporate. While your accountant can assist with this, you will also need to contact an attorney to see if this move or any other move is in your best interest. If you own a small sole proprietorship and do not plan to grow anytime soon, you can probably wait to contact a lawyer.

You Want to Run your Business and Not Worry about Licensing or Compliance

Operating a business is far from simple. Licensing and compliance are just two facets of what it takes to run a company. If you do not have the time to stress whether you have filled out every form of paperwork or if you are in compliance with the local and state laws, consider an attorney.

Not only can we advise you on common licensing and compliance questions, but we can also help you fill out any forms to ensure they are complete and accurate. We can also assist with designing and implementing compliance programs, drafting policies and procedures, developing and delivering training, and more.

While an attorney is vital in most cases, small businesses with limited overhead and no special licensing might not need a lawyer right away. Attorneys are most valuable for startups with complicated paperwork and existing businesses looking to reorganize, restructure, or make a big change.

Business Attorneys Should Uncomplicate Business Law for You.

You should have a brief conversation with a business law firm about your business.   Your business is likely the most important and expensive professional interaction in your life, currently.  There’s much more risk in not engaging a trusted attorney to help you position yourself for success and to minimizer personal risk.  Fill out our contact form and we’ll put you in touch with an excellent business law attorney near you.