If you’re a business owner, one of your most significant concerns is staying in compliance with the different regulations, laws, and policies that apply to your industry. Businesses are complex and involve many various ordinances and statutes on the state and federal levels. A lawyer will ensure that you’re following the rules and laws, which helps prevent fines and legal action that could harm your company and brand name.
Help Setup Your Business
Hiring a lawyer or legal firm will start with a consultation to learn more about your business and your specific needs. They’ll create a plan tailored to your company, which could involve anything from reviewing your business documents and creating an employment contract to setting up a structure for accepting customer payments and paying vendor’s invoices. A business lawyer will also work with you on contracts or other agreements with vendors and customers to help protect your company.
Prepare Employment Contracts
A lawyer will help you negotiate the best contracts for you and your employees. For example, suppose you have no experience hiring employees and are setting up a small business. In that case, you may want a contract that includes many provisions to protect both you and the employee. Your lawyer can help draft these provisions before even starting the interview process. This early action can reduce delays in hiring staff and opening your business.
Shield Costly HR Mistakes
A lawyer can help you navigate complex federal and state employment laws. These often confusing regulations change regularly, making it a full-time job to follow the updates. Your law expert can also prevent you from violating employment laws, such as overtime wages or reporting requirements.
These mistakes can be costly. They may lead to a fine or legal action that could harm your brand. Even if they don’t cause these problems, simple errors can cost your business dedicated and experienced employees.
Protect Your Personal Assets
A lawyer can help business owners protect their personal assets by providing advice on how to best structure equity, how to prepare for a potential sale of the business, and what protections are available for third parties. A lawyer can also help you with contract review and drafting so that you don’t needlessly expose yourself or your company to liability.
Buy and Sell Real Estate
Businesses need legal representation for buying and selling real estate because these transactions are very high risk and involve many legal regulations. An attorney is necessary to guide you through each decision to ensure you’re following the regulations and laws. These simple steps can reduce the chances of ending up with costly errors or experiencing problems using the property for your business. Additionally, the attorney can help save you time and money by preventing you from making unsound purchases.
Licenses and Permits
A lawyer is also necessary to help you obtain the correct business licenses and permits. For example, building applications in a town or city or operating licenses for fleet vehicles or food preparation and sales might be necessary. An attorney can help you through the process of applying for these permits by providing guidance on what is needed, how to go about acquiring them, and when you meet the qualifications to apply. Additionally, if your application is turned down, they can assist with reapplying or the appeals process.
Protect Intellectual Property
An attorney can help you file patents for your company if you’ve got an invention that you want to sell. The US patent system is made of two different types of patents. These are the utility patent and design patent. Utility patents cover the way invention functions or the way it works and not how it looks.
Design patents allow you to protect one aspect of the appearance of your invention while in use, but not how it functions or why. By completing the right applications, you can protect your company’s intellectual property with the assistance of a legal expert.
Even if you don’t have the budget to have a lawyer on retainer full-time, it’s vital to have a legal expert review crucial business decisions. This extra layer of protection for your company can help safeguard your brand from lawsuits and fines for unforeseen violations. Contact Alizio Law PLLC and learn more about how legal representation can protect your business.