Business

7 Times You May Need a Business Lawyer

Are you a small to medium business owner? Even CEOs and managers ought to know when it is time to seek legal guidance.

Whether you are starting an entirely new small business, or whether you own a large-scale operation, there will be times when the advice of a qualified business lawyer could save your business bacon. Business lawyers help companies with everything from starting up to defending their good name. At any point, your business could be sued by a former client, by an unhappy member of the public, or run into difficulties with the local taxation department. A business lawyer guides you through all of this, including filing paperwork and keeping you updated.

The 7 Times A Business Lawyer Could Represent Your Company

There are well over 7 times in a business’s lifespan when it may benefit from legal representation, but here are the top reasons for something to consider as an SME owner.

1 – Setting up your new business

A business or business and private client solicitors can help provide you with expert level advice on how to set up your new venture the correct way. They can give you further information about what structure would best suit you, help you strategize your financial plans, and offer input on any legality issues your type of business might encounter down the line. A solicitor’s advice at this point in time is crucial.

2 – Contracts for new employees

Hiring and firing comes with all sorts of potential legal issues. From the moment you draw up the contracts and develop the training manuals to the moment that member of staff leaves your employ; you must remain legally compliant. The UK government has strict employment laws which there is no choice but to adhere to. Business solicitors can help you ensure compliance from the get-go.

3 – To defend against unhappy former employees

If a disgruntled employee does decide to sue you, having a business solicitor who already knows what the contracts in your company say can make a huge difference. Those employees who do seek to sue you will bring legal representation of their own. The sooner you have your own legal support in place, the better. Another reason you might want to keep a solicitor on retainer is the possibility of defamation. Ex-employees might tell the world things about your business that you don’t want them to know, presenting you in a negative light.

4 – Selling your business

If you eventually decide to sell your business on to a new buyer, then a business solicitor can handle all the legal aspects of making the transition. There will be a mountain of paperwork and thousands of items to cover. Trying to do this alone is a bad idea. You may miss something while your solicitor has performed this testing task before.

5 – Governmental compliance

No matter which industry you work in, there must always be full compliance with the law. To make sure you are not breaking data protection laws, client/company confidentiality, or wage laws, you require someone who’s job it is to check for these things. When you run a company there are thousands of items to get through every week. Leaving legality to the professionals gives you the peace of mind you need to forge ahead.

6 – Tailored client contracts

If you run a B2B company which routinely partners with other companies, a business solicitor can help you create unique client and supplier contracts. These can contain specific agreements made between both parties. They can also keep your legal documentation so that they can easily access the core components of those agreements without you having to produce new material each time.

7 – Product Regulations

A business lawyer can examine your products before they go on sale. They can even advise you throughout the product design process. When it comes to testing new designs, they have the skills and experience to look at the product with fresh eyes and warn you of any potential legal issues that it might cause. As well as finding potential problems, they can help you create strategies should the worst happen. They can even advise on the certifications you might need to safely produce your wares.

Finding a Trusted Business Solicitor is Your Best Bet

The best way to stay safe from these business-based threats is by facing them using someone who knows what they are doing. When if comes to compliance, court cases, and contract creation, finding a business solicitor you can trust is your best bet.