When you run a business, you have a lot of different professionals that help you with everything from the bookkeeping to preparing payroll for your employees. However, many businesses don't think about hiring a lawyer before issues occur and wait until they are already being sued or facing a legal situation. Here are some reasons you should find a lawyer now, even if you run a small business.
You Prepare Contracts Often
If you have a business that often works with contracts, then you really should have a lawyer you can turn to in order to either draft the contracts or look them over before anyone signs on the dotted line. For example, if you run a construction company, you likely deal with contracts between you and the homeowner. This contract ensures you will complete the work as requested and that your customer is going to pay you for work provided. The contract legally binds you both to the obligation. A lawyer is really helpful in this situation when preparing a contract and dealing with issues that come up if someone tries to break the contract.
For Tax and Auditing Purposes
Regular tax filling is usually done by an accountant, but it is still good to have a lawyer on retainer in case more extensive tax help is needed. Accountants do have a lot of knowledge when it comes to tax issues, but if you owe a lot of money to the government, it can create more serious problems. There are some legal situations an accountant or CPA won't be able to help you with, particularly if you are audited by the government. In these cases, a lawyer is what you need.
The Structure of Your Business is Changing
Even with a small business, when you change its structure, getting legal help is necessary. You don't want to enter into a partnership if you don't have legal assistance for this new business structure. The partner is now responsible for half of the issues that can occur with your business, as well as making you more liable to potential legal issues down the line. Even if it is someone you trust with your business, you should not enter a new partnership without a legal contract drafted by a lawyer.
Your Business Has Liability Concerns
Some businesses have a much higher risk of liabilities or potential litigation from employees or customers, which means you need to have a lawyer that already knows you and your business to prepare for them. For example, if you run a window cleaning business where your employees are cleaning windows outside tall buildings, they have a higher risk for injury. Electricians and cable installers have a higher risk of electrocution during their job. These types of employees have a higher risk for injury, which puts your company at risk.