Save Money by Hiring a Business Attorney

Whether you are just starting your business or have been in business for decades, it’s important to have a business attorney you can trust on retainer. Small businesses may not see the need to have an attorney, but there are many situations where an attorney is a definite asset. Here are four areas where a business attorney can come in handy and save you money.

Contracts

Business law attorneys understand the need and purpose of contracts. Having an attorney review contracts helps them hold up better in court. Lawsuits happen but having an enforceable contract can save you money in the event one happens to your business. There are times when an attorney can help you obtain better terms on an existing contract such as a lease agreement or vendor contract. Knowing the right contract to use in a given situation is their job.

Taxes

The way your business is set up can have long-term tax advantages and disadvantages. A business attorney can help you choose the right type of business entity that best serves you. A tax attorney can help your business in the event of a sale or purchase, starting up or other legal issues with taxes. Knowing the legal implications of the tax code is an essential asset for many businesses.

Ownership

If your business involves more than one owner, a lawyer can help you tackle ownership or partnership agreements. Laying out these ahead of time can help prevent any costly ownership disputes later. Outlining those agreements with an attorney holds up in court if one or more owners decide to split at a later date. They are also important if capital needs to be raised.

Employees

The current employment marketplace has become a little more fluid thanks to the rise of the gig economy. An attorney versed in employment law can help you how to classify workers within the business. Employees may sue the business for a variety of reasons, but most claims come down to discrimination. A potential employee may sue on grounds of discrimination during the hiring process. Having an attorney on retainer can help your business develop policies and procedures that reduce discrimination in all areas.

Contact an attorney to get the legal advice your business needs. Choose an attorney who understands your industry, has good reviews and is one you trust. The lawyer is there to work for you and your business. A quality attorney can save your business, large or small, money and hassle.