Why Hiring a Corporate Lawyer Is Vital To Make A Business Succeed
While most business owners tend to overlook the importance of hiring a corporate attorney when they first start out, it’s actually an essential part of running a business. Without a corporate attorney, you won’t have anyone to advise you on issues like trademarks, copyrights, incorporation, zoning compliance and liability cases. You’ll also waste time and money on tasks that your lawyer could be taking care of for you.
Still not convinced? Here are a few more reasons why you should consider hiring a corporate lawyer for your business.
Benefits of Hiring a Corporate Lawyer
Hiring an attorney, especially from a large law firm, comes with a lot of benefits like the fact that you’ll have access to various types of legal specialties says Trent from Steinepreis Paganin commercial lawyers. The firm will handle all of the legal issues that you may come across throughout the course of running your business from filing trademarks to drafting lease agreements, providing advice on labor relations, drafting a software license agreement etc.
Other benefits that come with hiring a reputable and large law firm include:
-
Having all the legal expertise that your business needs under one roof.
-
They probably have a fair amount of influence at regional and local levels. Whatever document that your lawyer draws up for you is most likely to be taken seriously if it comes from a well-known and reputable law firm.
-
They have a network that spans beyond the legal profession, which means that they can link you up with the best financiers. Even mentioning the law firm in a conversation can help to improve your chances of getting good quality partnerships when networking.
-
It reflects well on your business name to have high-ranking and recognized law firm as part of your ‘team’ and that association will come in handy when you start to expand your business and eventually go public.
They’ll draw up contracts for you:
Hiring an attorney that understands how your business operates means that they’ll be able to draw up customized contracts for your suppliers, partnerships, clients etc. You can also consult with your lawyer before you sign contracts or agreements to make sure that you’re not being taken for a ride.
They’ll help you register your business:
Having an attorney will make the business registration process so much easier because they’ll actually give you sound and informed advice on how best to structure your business for success.
Intellectual property:
If you’re a business owner in the creative or media professions, then you’ll benefit from having a corporate lawyer too. They’ll assist you with filing trademarks, copyrights and other intellectual property licenses.
Tax:
Your attorney will register your business for tax so that you’re compliant from the beginning. They’ll also advise you on issues related to the tax ramifications of your business operations. The last thing you want is to deal with a large tax bill because you were non-compliant or unaware of important legislation.
Real estate:
Like most business owners you probably don’t have the time or inclination to go through a lengthy rent or lease agreement. If you hire a corporate lawyer, they’ll be able to go through the whole document for you and later explain each paragraph to you in terms that you can understand. That way, you’ll go into the lease agreement with complete clarity of what you’re getting yourself into.
If you like, you can also ask your lawyer to draw up a standard document known as a “tenant’s addendum” which should consist of clauses that are beneficial to you as the tenant. This standard addendum can then be added to any lease agreement document that you’re required to sign to make sure that you won’t be shortchanged in any way.