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Two Reasons You Need Attorney Representation For Your Small Business Right Now

by Theresa Hoffman

When you're starting a business, money is often in short supply -- and the list of things you need to get done may seem endless. The last thing you may want to add to your list of "things to do" (and "things to pay for") may be an attorney.

There are a number of reasons that waiting to hire an attorney can be a very big mistake. Here are two important things you should consider:

1. Waiting until you "need" a lawyer could be an expensive gamble.

Maybe you figure that you'll get legal representation if you ever really need it -- like if you are being sued by a former employee or a customer.

Here's the thing: you're probably going to get sued. It's almost inevitable in business. According to the statistics, an incredible 90% of small businesses are in litigation of some kind at any given point. 

Hiring someone to represent your company before you get sued can benefit you in several ways. First of all, you'll have a chance to establish a working relationship with your legal representation before you're thrown in the trenches together in a lawsuit. Second, good legal advice may help you avoid some preventable lawsuits altogether.

2. Experienced legal advice can help you insulate your company against problems.

Have you ever heard the saying, "An ounce of prevention is worth a pound of cure"? That's never truer than in the law. 

Here are several ways having legal representation for your business can help you mitigate the possibility of a lawsuit or other trouble in the first place:

  • It can help you maintain your federal and state compliance with tax codes, licensing regulations, and any other rules that your business has to follow. When it comes time to incorporate, you may need experienced guidance in order to get the company's structure right. A mistake can be costly and hard to undo.
  • It is the best way to avoid lawsuits from employees. Getting legal advice can help you craft an error-free employee handbook, draft confidentiality clauses and contracts for new-hires that are effective, write agreements for your independent contractors that don't violate the law and terminate your problem employees without fear of repercussions.
  • It may be the only protection you have against making an expensive mistake while dealing with other business owners -- including your commercial landlord and your suppliers or distributors. There are precious few regulations protecting business owners from abusive contracts -- so you have to be on your toes when you negotiate!

Yes, attorney services do add to a young company's expenses -- but not having those services can actually cost a lot more in the long run. Contact an attorney, like H. Charles Woerner, Jr. PA, for further assistance.