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When Do You Need to Hire a Small Business Attorney

7/31/2014

36 Comments

 
Every business will likely need legal help at some point.  But no one goes into business because they want to spend all of the business’ money on legal fees.  So when do you need a small business attorney?

Forming A Business

Forming a corporation or a limited liability company (LLC) isn’t hard.  The Secretary of State has the necessary forms available online.  Many of these forms are pretty simple to complete, but you probably need a small business attorney to help you decide which one is right for your business and your circumstances.  A small business attorney can make sure your operating agreement or corporate bylaws are appropriate for your unique situation.  Even if you don’t file anything with the Secretary of State, if you’re going into business with a partner, you’ve created a partnership.  A small business attorney can help you draft a partnership agreement that covers everyone’s’ rights and obligations long before there are any business disputes over who owns what.  Finally, if you’re not sure what needs to be done to keep your business entity in good standing with the Secretary of State, you should consult with a small business attorney.  

Writing and Reviewing Contracts

Often, entrepreneurs and small business owners think that contracts and other legal documents can just be adapted from a form found online or borrowed from a friend.  And while such a document might be a decent starting point, the devil, as they say, is in the details.  You need a small business attorney that understands your business to make sure those details are just right—that every I is dotted and every T is crossed.  Your small business attorney should write, or a least review, any standard form contracts that your business needs to make sure they are enforceable.  A small business attorney can also review any contracts that your business is asked to sign.   

Intellectual Property

If you’re in the business of creating or designing something, you need to discuss with your small business attorney the difference between copyrights, trademarks, and patents and which your business needs.  Once you understand these terms, registering for copyright and trademark protection is relatively straight-forward. 

Succession Planning

Also called exit planning, succession planning is important for any small business with more than one owner.  Your succession plan should cover what happens to your co-owners’ interests if they pass away or simply want out of the business.  These types of plans are especially important for family-owned businesses where the owners want to keep the business in the family.  You need a small business attorney to make sure an appropriate buy-sell agreement is in place. 

And if you decide to buy or sale a business, you need a small business attorney to help you negotiate and draft sales agreements, negotiate and draft asset purchase agreements, and conduct the necessary due diligence.

Don’t Wait Until You’re Sued to Hire a Small Business Attorney

Every small business needs a great working relationship with their attorney long before a lawsuit is on the horizon.  If you do, you’ll have an attorney that knows the ins and outs of your business and has done everything possible to help you avoid getting sued in the first place.  Preventing litigation is always cheaper than resolving a lawsuit. 

But if you are sued (or even threatened with a  lawsuit), you need to call your small business attorney immediately.  While you might think you can settle the dispute on your own, you don’t want to inadvertently admit something that could be used against you later.  Litigation also involves complicated procedural issues and deadlines.  If you delay in calling your attorney, you could miss an important deadline or foreclose a possible defense.  It should go without saying that the same is true for any government investigations.

Do-It-Yourself Option

Even if you decide to take the do-it-yourself route, you should ask a small business attorney to “check your work.”  For example, if you wrote your business contracts yourself, an attorney can make sure the contracts include all of the necessary clauses and legalese and will be enforceable.  If you form your own business entity, your attorney can review your operating agreement, partnership agreement, or bylaws and suggest areas for improvement.  This type of coaching arrangement can save your business money while building a great working relationship with your attorney.  As your business grows and your legal questions become more complex, you’ll already have an attorney you’re  comfortable with and who knows your business.  

Your Time is Valuable

Last, but certainly not least, you need to hire a small business attorney because your time is valuable.  An entrepreneur’s to-do list is always a mile long.  If you can delegate some of those tasks to someone with more expertise than you, you’ll save yourself time, money, and quite the number of headaches in the long run.  There is certainly something to be said for spending your time on the aspects of your business that you love and entrusting the rest to experts who love dealing with that aspect of the business.  For example, most of us aren’t in love with filing our taxes each year; instead, we delegate that task to an accountant—those crazy types that love tax season.  Working with a small business attorney is similar; if you really loved writing contracts, you probably would have gone to law school instead of pursuing your business idea.  

Resources

Don’t just take my word for it.  Check out these related articles:
·      Step 1 in Starting a Small Business:  Hire a Lawyer
·      Small Business Legal Advice:  Hiring an Attorney
In the coming weeks, I’ll be expanding on many of these topics—how to save on legal fees, which business entity to choose, and how to form your corporation or LLC.  If you have topics you would like to see covered, leave a comment below.  If you have questions about your specific circumstances, contact me today for a free consultation.  

36 Comments
Leviticus link
2/17/2017 02:08:35 pm

I like your point about not waiting until you're sued to hire some legal advice. Like you said, preventative measures are always cheaper than reactive measures. I think that in the heat of the trouble it's also more stressful to find a good lawyer and you could settle for someone who's not best.

Reply
Kairi Gainsborough link
6/15/2017 06:02:12 pm

I think it is so smart to hire a business attorney if you are planning on trademarking, patenting, or copyrighting anything. There are so many good ideas being developed by small businesses, and they should get the recognition and the money that they deserve. Think about all of the apps available for your phone. I'm sure each one of them had to copyrighted.

Reply
Finley Moreira link
6/23/2017 12:23:13 pm

I like how you pointed out how a business attorney can help you file proper paperwork when starting a business. This would be really helpful since I'm sure a majority of business owners don't have an in-depth knowledge of the technicalities and laws associated with starting a business. I know I'd definitely benefit from hiring an attorney if I were starting a business.

Reply
Amanda Drew link
8/4/2017 04:44:43 pm

It sounds like it would be really important for a company to talk about the differences between patents, copyrights, and trademarks with a lawyer. An attorney would probably be able to let a business know if the way that they're making a product or something like that should be patented. It seems very important for any company to find someone who knows business law.

Reply
Tiffany Locke link
9/12/2017 11:00:12 pm

It's great that this article talks about how an attorney is important in order to settle the dispute and to ensure you don't miss a deadline or anything else important. When choosing a lawyer, it would probably be a good idea to figure out what you are most likely to need them for so you can look online to find one that has the right skills, experience, and knowledge for your business. Once you've looked online, you'd probably want to meet with the best options so you can learn more about their services and communication skills in order to determine if they're the right option for what you need.

Reply
Becca Holton link
10/6/2017 04:32:33 pm

I liked how you mentioned that it's a good idea to have an attorney review your work if take the do-it-yourself option. It makes a lot of sense why getting an expert's opinion will be beneficial. I've heard there are a lot of legal aspects that business owner's need to be aware of, so having a lawyer double check things seems like an essential precaution.

Reply
Becca Holton link
11/13/2017 05:31:02 pm

That was a bit surprising to learn that it's common for entrepreneurs and small business owners to assume that it's ok to create a contract based off a form online. I can see why that isn't the greatest idea to do without the assistance of a lawyer. Contracts are serious business.

Reply
Lindsey Smith link
4/2/2018 04:05:16 pm

As a small business owner I understand the need for an attorney but sometimes it's hard to see exactly when I need an attorney. I like the think I can write my own contracts and set up my plan for succession but I didn't know that you could have an attorney double check your work. I always thought it was an all or nothing scenario when it comes to attorneys. Thanks for the information to help me succeed!

Reply
Earnest Watkins link
4/17/2018 01:16:06 pm

My brother and I are thinking of starting a business in the near future. I like how you suggest taking the time to use a business lawyer to help me decide what structure would be best for my business. I'll definitely look into this since neither of us know what kind of structure would be best for our business.

Reply
Braden Bills link
5/10/2018 09:33:13 am

I can see how managing a business could be difficult if you don't have experience with it. Getting a good lawyer can be very helpful! They can help with protecting your intellectual property, which is something that all businesses need to guard.

Reply
Duncan Lance link
7/31/2018 04:38:22 pm

You really want to hire a small business attorney as soon as possible. After all, if you wait until you are sued then you could choose a bad one in the panic. Instead you want to take your time and choose a business attorney that will properly represent your company.

Reply
Braden Bills link
8/14/2018 10:22:28 am

I've always wondered if businesses need to get an attorney. It makes sense that they would want to get a good small business attorney! That way they can ensure that the follow all of the laws.

Reply
Ellie Davis link
9/13/2018 06:34:10 pm

I like that you point out that you are going to need to discuss with a business attorney the difference between copyrights, trademarks, and patents. Making sure you have the best business attorney to help you figure this sort of thing out seems important. Hopefully, people look into finding the best attorney possible.

Reply
Braden Bills link
9/24/2018 11:30:10 am

It makes sense that small businesses would still want to have a good attorney! That way they can avoid any problems with law. A lawyer can be there to give advice, after all.

Reply
Mia Stewart link
6/3/2019 09:09:54 am

I like how the article explains that you should hire a small business attorney before your company gets sued. I am going to start a small business and I'm worried there's a possibility I will get sued. If I hire a small business attorney now, they will be able to help prevent me from getting sued.

Reply
Jackson Bush link
7/2/2019 01:07:27 pm

I like how you mentioned that an attorney can help set up contracts and other legal documents correctly. When my brother was setting up his small business, he wanted to make all the contracts for his employees and it back-fired on him because the employees found holes in their contracts. I'll be sure to remind him how an attorney can help him make contracts.

Reply
Mia Stewart link
8/2/2019 02:18:33 pm

I like how the article explains that if you are writing and reviewing contracts, you should hire a business attorney as they will be able to help you understand the contracts. We are going to be reviewing contracts soon and we don't quite understand them. We will look into hiring a business attorney.

Reply
Devin Scott link
8/29/2019 09:10:57 pm

I like how you mentioned that your small business attorney should be aware of what your business does and how it operates. My brother and I want to start a small clothing business and we were wondering what to tell our lawyer when we decide to hire one. I'll be sure to keep our lawyer updated with our business once we get to the point of hiring one.

Reply
Jerry Woods link
10/30/2019 10:44:15 am

It's great to learn that you need to discuss with a business attorney if you want to create or design something. My wife and I want to start a clothing company. I'll be sure to talk to her about getting a business attorney so we can create the designs we want.

Reply
Luke Smith link
12/4/2019 06:19:20 am

I agree with you that hiring a small business lawyer from the start will cost you less than hiring a lawyer when a lawsuit is already filed. I'd like to assume that business owners want to protect their company and their assets legally. I'd recommend getting an experienced lawyer that knows the ins and outs of the business field, and that is knowledgeable about how the legal proceedings.

Reply
hawaii immigration cure link
12/11/2019 10:24:46 pm

Thanks for this blog. I learned a lot of tips and ideas on how to find and choose the best lawyer for your legal problems It is very important to choose the best lawyer for your problem to make sure that your problems will be fixed successfully. I hope you post more blog to help for us so that we can learn for and apply from finding a good lawyer for us.

Reply
Derek McDoogle link
1/6/2020 11:27:43 am

I totally agree with you when you said that many entrepreneurs think that they can download a contract online and use it for their needs. My friend started a business a few months ago and he told me that he wanted to get an agreement with a distributor that would only provide their items to my friend if he signs a 3-year contract. I will recommend him to hire a corporate lawyer so that my friend won't have any future problems.

Reply
sofiacomas link
1/16/2020 05:02:26 am

A very handy message! Most of us wouldn't know when to hire a Small Business Attorney. Such helpful information needs to be known to everyone. The blog is fantastic and worth reading. Keep posting these great blogs

Reply
hawaii immigration cure link
3/12/2020 11:39:53 pm

Thanks for this blog. I learned a lot of tips and ideas on how to find and choose the best lawyer for your legal problems. It is very important to choose the best lawyer for your problem to make sure that your problems will be fixed successfully. I hope you post more a blog to help us so that we can learn for and apply from finding a good lawyer for us.

Reply
Tyler Johnson link
3/16/2020 10:36:15 am

I agree that it would be good to have a good relationship with your attorney before you are sued or need their services. Hopefully that would help you to work easier with them and could help the process be smoother and more enjoyable. When I start my business eventually, I'll have to look into some good lawyers that I could work with if I ever need legal help.

Reply
Jesse Ford link
3/20/2020 01:07:19 pm

Thanks for mentioning that if an entrepreneur can delegate some of their tasks on their to-do list then they can save themselves time, money, and a lot of headaches. The company I work for is thinking of looking for an employment attorney because they're thinking of having a specialist take care of the companies legal issues so the decision-makers can focus their attention elsewhere. It might be a good idea to consider hiring reputable professionals that have experience with the complexities of business law to protect the company and its assets.

Reply
Rick Davis link
3/23/2020 10:49:43 am

It's good to learn that you need a small business attorney to review any contracts your company might make. My brother and I are wanting to start a small business and we were wondering how we can hire employees soon. I'll be sure to get a business attorney to review our employee contracts before we interview anybody.

Reply
Lyla Peterson link
4/13/2020 01:57:18 pm

That's a good point that hiring a business lawyer can save you time, money, and effort. As a small business owner myself, my schedule is extremely busy. I think I will start looking for a lawyer in the area this afternoon so they can help me with some of the documentation and contractual aspects of my business.

Reply
Ron Booker link
4/21/2020 10:26:46 am

You made a good point about how the communication between the lawyer and you to establish a good relationship. My cousin and his brother-in-law want to start a business, so they were looking to hire a business lawyer that will help them get started. I'll send them the article so they can discuss the things to do when looking for the right lawyer in the area they are in.

Reply
cami link
6/25/2020 03:37:43 am

I have read your blog its great.

Reply
Steve Jones link
7/22/2020 11:04:27 am

I liked how you mentioned that you should hire a small business attorney to save time. My wife and I are wanting to start a small program for special education at our local school and we were wondering how we could get it started quickly. I'll be sure to tell her that we should contact an attorney to help us set up the program.

Reply
megan alder link
8/24/2020 03:00:50 pm

My mom and I have been thinking about opening a business and we have thought about hiring an attorney for our business. I like that you recommend hiring an attorney to be able to form your business, as well as make sure that all contracts are written and reviewed by him. I will start looking for a general attorney that has good reputation near us to hire him.

Reply
rachel frampton link
9/23/2020 05:23:22 am

I agree with you that a lawyer is keen on writing or reviewing any standard form of contracts, which will be beneficial for the business. It's also great to learn that this type of professional will discuss the difference between copyrights, trademarks and patents to their clients. Well, if I had a company, I would make sure to hire a business attorney that will handle the taxes and litigation matters.

Reply
Chris Pederson link
9/25/2020 02:31:39 pm

It's good to know that a small business attorney can help a business out by making sure their operating system and corporate bylaws are appropriate for their unique situation. It would unfortunate for a business to get in trouble with the law because they didn't know what to do. I would hope that they would always have an attorney on standby just to make sure they are doing everything okay.

Reply
Max Beck link
12/15/2020 12:25:39 pm

It's helpful to understand that succession planning is usually the same as exit planning in business. My brother has a small business that is starting to grow more. He needs a good attorney to help him next year so that he makes the right legal and financial decisions.

Reply
Mariam Weber link
12/20/2020 08:44:05 am

Thanks for thhis blog post

Reply



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