REASONS WHY YOU SHOULD HIRE A BUSINESS LAW ATTORNEY
Updated: Feb 22
July 20, 2021
No matter how you operate your business, there will always be legal considerations. Whether you run a small mom-and-pop restaurant or a large corporation, legal matters come up every day. Many business owners believe they can handle the legal side on their own, finding template contracts online using do-it-yourself websites. Online templates may seem like a good idea, being quick and cheap, but quick and cheap options without consulting a licensed attorney can result in bad deals, major liabilities, fines, lawsuits, and more. Below are reasons why you should consult a business law attorney for your legal needs.
1. Starting a business requires major legal considerations and documents.
Starting off on the right foot is important for business success. This means you will need to consider the legal issues and tax consequences involved in entity formation. In addition to selecting the right entity type, you will need to have different types of documents for general operations such as company agreements or bylaws, IRS forms, employee handbooks, employee contracts, confidentiality agreements, leases, and more. Thus, starting with a proper legal foundation is crucial. Doing this process by yourself can put you in a bad position both legally and financially down the road. Let a licensed attorney help you make the legal side of formation and general operations as easy as possible.
2. Business attorneys are able to highlight and handle different legal issues that non-attorneys may not recognize.
The list of laws and regulations that affect business operations is both long and complex, and business attorneys are trained to competently handle these issues. Unfortunately, many business owners fail to hire an attorney, exposing their business to unwanted liability. Consider the following list of common issues and laws affecting business operations:
- Laws related to business ethics, substantive law, procedural law, and so on;
- The taxation system for different types of businesses;
- Regulations on competition and anti-trust matters;
- Regulations on employee rights and privileges, workplace safety, overtime rules, and minimum wages law;
- Environmental law;
- Laws surrounding promotional events;
- The formal process of establishing a business organization and regulations related to the selling of corporate entities;
- Laws on rights of assignment, drafting, breach of contract, transactions, contracts, and penalties for violation of agreements;
- Laws related to business partnerships, limited liability companies, sole proprietorships, corporations, and other entity structures;
- Laws on non-profit compliance;
- Laws related to commercial real property;
- Laws on intellectual property and the impact of computer technology; and
- Bankruptcy law and governance of securities.
The list above is not even a full coverage of laws and regulations that affect business operations. Thus, there is much to consider, and most business owners are not trained to handle a majority of these matters. If you hire a business attorney, they will educate you on different legal issues that can affect your business and help protect you from unnecessary legal exposure.
3. Business attorneys know how to create legal documents that both consider your needs and comply with applicable law.
In addition to recognizing laws and regulations that can impact your business, a business attorney can draft and negotiate important agreements that prioritize your business needs. Business owners are often unable to identify and/or draft all the important provisions needed for an agreement without legal assistance, and the use of online templates can do more harm than good by not addressing negotiated terms or adding provisions that in fact may hurt the parties involved.
There are numerous forms of contracts businesses may enter into, such as the documents listed above for general operations as well as master sale agreements, independent contractor agreements, promissory notes, term sheets, purchase agreements, and more. Creating these agreements requires both competent drafting and careful exchange of information with multiple parties for ultimate benefit. Furthermore, skilled negotiation may be necessary to secure favorable terms. A business attorney is able to do all of these things and will make sure that the contract is valid for it to be legally binding.
Nothing is worse than being bound to a bad, poorly negotiated contract because you did not have someone working to secure the most ideal terms for your business. That is why the use of a business attorney can help prevent these issues.
Although as a business owner, you can cover most operation matters on your own, there will arise legal questions and documents that require a lawyer’s assistance. If you need these services, consider our firm! We handle general business law matters and make our services accessible to small and medium-sized businesses in the San Antonio area. Call us today for a free consultation.
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Our attorney, Samantha Alecozay, has established herself as a unique and accessible option for business owners in the San Antonio area needing assistance that goes above and beyond traditional legal counsel. Samantha has a diverse background through academic research and real-life practice in subjects such as business psychology, business bankruptcy, financial management, secured transactions, business practice management, and other areas that allow for a thoughtful approach to legal services. To learn more about Samantha's expertise and background, visit our "Meet our Attorney" page.
If you have any legal questions or need counsel for business law matters, please contact us at (210) 774-2741 during hours of operation or send us an email at Sam.A@alecozaylaw.com. You can always visit us online at alecozaylaw.com
We look forward to assisting you!