Why Every Business Should Work With an Experienced Law Firm
Every business, large or small, is a “big” business and needs to hire an accountant and an experienced lawyer and law firm. The reasons for hiring an accountant seem obvious, but the reasons for needing an experienced lawyer and law firm may not seem quite as apparent.
An experienced lawyer and law firm can provide important counsel in many aspects of your business, from formation and corporate governance, internal and external contract negotiations, liability issues, dispute resolution to basic compliance with applicable laws.
No matter what size your business is, nobody likes paying for or dealing with lawyers but the fees you pay a lawyer may be small compared to what it will cost in lawyer fees when trouble has already happened.
The time to find an experienced lawyer and law firm is before there is a business problem.
Behind every successful, functional business is a top-notch law firm. Here are a few reasons why smart Texas businesses use an experienced lawyer and law firm in the state.
Contracts are a major part of every business. Whether dealing with your landlord, vendor, customer or your employees, an experienced law firm can help insure that you don’t sign a contract that will put your business in jeopardy. Your experienced Dallas attorney can be a tool used to help spot potential expensive problem clauses and if there is a problem help decide your best options to resolve the problems as economically as possible.
In a perfect world, businesses partners never have internal conflicts. Unfortunately, we don’t live in a perfect world. Experienced Lawyers are skilled at settling disputes. It can be helpful to have your experienced lawyer and law firm in place before there is a problem to help resolve conflicts as quickly and economically as possible. The better your experienced lawyer know you and your business before a problem arises the better prepared you both may be to resolve the problem.
Dealing with Employee Issues
Good employees can make or break a business. At least that is what I read that Richard Branson thinks. A good law firm can advise you regarding employee policies and procedures and help you to maintain those good relationships. When everyone knows the rules, it is easier to play.
Negotiating the Sale of Your Business
Many successful business owners like to have an exit strategy. Whether you are a serial entrepreneur or the CEO of a major corporation, maximizing the value of your business is always a goal. When you are ready to sell your business, an experienced lawyer and good law firm will help negotiate and handle simple and complex aspects of the transaction in the interest of maximizing value and minimizing risk.
The Value of an Experienced Business Lawyer
At first glance, hiring a good law firm may not seem like a good way to keep costs down, but you’ll be amazed at how keeping a lawyer on retainer can minimize expensive conflicts and expensive lawsuits.