It’s easy for small business owners to hold off on spending their precious resources on legal assistance, especially when their business is still in its infancy. This is strange, especially when you take into consideration the fact that the very same owners rarely hesitate to spend money on accountants and insurance agents. Lawyers do not enjoy the same level of “need” as those professionals who specialize in all things finance.
And the sad truth is that this is a rookie mistake that no business owner should ever make. As we are all aware, the law is a cruel mistress that shows no mercy towards those who incur her wrath. That and, well, there are real-life penalties for violating the law.
And while you may think that spending money on lawyers when there isn’t an apparent and immediate need is a waste of money, you’d be surprised at how many successful businesses have been spared from the stresses and dangers of legal battles by hiring a lawyer right from the start. But for that to even happen, you need to be able to discern what makes a capable lawyer. You know they’re essential. But, of course, that isn’t the answer you’re here for, is it?
They Are Excellent Problem Solvers
Even better, lawyers are even better at preventing problems from happening at all. Whether it’s regarding any issue that may arise from contract negotiation, business mergers, or a workers’ compensation dispute, you’re going to want to seek their counsel before you make a move. There’s no need to be hasty. Ask a professional first.
But when you do find yourself in the thick of things, they are trained to handle a wide variety of legal issues. There are many specialists in the profession, such as this New York Workers’ rights lawyer, who can defend you competently in case of a court battle.
They Know The Ins and Outs of the Corporate World
There is no exaggeration in that statement. Lawyers study these things for years, and they also undergo a continuing education program that ensures that they are always up-to-speed on current events and on any changes in literally any aspect of the law, business law included. Because of this unparalleled expertise, there are some business-related tasks that are best left for them to handle. These tasks include:
- Intellectual Property
- Business Structuring
- Client-Supplier Contracts
- Business Registration
- Manage Employment Contracts
They Are Indispensable Allies
It’s true. Much like in any industry, when you work with people and you develop a network of professionals that you can call on in your time of need, your interactions with your lawyer are going to transcend that of mere transactions. You will find a dependable ally in your lawyer, especially one that will not only fight for your best interests, but will also give you sound and unfiltered advice. Not everyone is able to disclose the truth as it is because sometimes, the truth is an ugly (But necessary) thing to hear.
They Are Some of the Best Negotiators Out There
Whether it’s negotiations about office space, mergers, and business relationships, having someone who not only has a profound understanding of business, but has the skill to help build a bridge between you and the other party is invaluable in the growth of your business. Lawyers are also able to detect when the other party is trying to one-up you, and can advise you to steer clear if needed.
Now Over to You…
Anything to add to the list? Please share your thoughts in the comment section below.