Most businesses do not work with attorneys. In fact, most will only call a lawyer when things are out of hand. That approach can sometimes cost a business money or its reputation. Working with a firm like Sunder Legal is a smart investment that will save you money and time. Whether you are an established or small business, there are many things an attorney can help you with. So, make sure you budget for legal services just like you budget for other business needs. Below are some of the things a business lawyer can help you with.
Can Help in Launching a Business
Before you start offering your products and services to consumers, you need legal guidance. This simple investment will save you in the long run. For instance, there are different types of business structures, such as limited liability company (LLC), corporation, and proprietorship. When it comes to issues of tax implications and liabilities, different business structures handle these matters differently. Your business attorney knows the pros and cons of each structure. They will analyze the plans for your company and inform you which structure is more favorable for you.
Navigating Issues of Tax
One of the issues that give entrepreneurs a hard time is tax. Even your accountant will sometimes fail to keep up with the changing tax laws. A business attorney is there to advise you on matters of taxation and prevent problems in the future. Aside from that, they can also help you develop a practical record-keeping system, making tax filing easier. They will update you on filing deadlines, allowing you to focus on running the business.
Creating Contracts
Strong contracts will protect your business from several legal issues. These documents are usually legally binding and aim to protect a business’s interest. A business lawyer can help create business contracts and review any contracts you are receiving. For instance, if you are launching a business with a close friend or family member, a partnership contract can prevent things from getting ugly down the line. The attorney will help draft a contract outlining each party’s responsibilities. Aside from that, you will also be dealing with clients, vendors, and contractors. A lawyer can draft a contract template tailored to the needs of the business.
Help With Real Estate Issues
As much as the number of online businesses is increasing, brick-and-mortar businesses still operate. And if this is you, you will need a business lawyer. While a realtor can find you a good space, the landlord or seller will give you some contracts to sign. Most of the time, these contracts protect the seller or the landlord more than they protect you. Let a lawyer review the contract and explain what you are signing. Most people sign these leases without completely understanding them. They later find out that they are tied down to contracts that prevent them from doing certain things that can benefit the business.
Represent You in Court
Another role of a business attorney is to represent you in court. Conflicts tend to arise in business, and this is normal. A business attorney will stick by your side, representing your needs and those of the business. They will also advise you on the steps you can take to facilitate a better outcome. Heading to court can be terrifying. But having someone with legal knowledge is comforting and increases the chances of a positive outcome.
Regardless of the stage your business is at, you need the advice of a qualified and knowledgeable lawyer. This will prevent you from making mistakes. Do not just wait until things are bad to bring in an attorney. Every step where legal issues can arise, let a lawyer help.
