Your Business Dies Without A Lawyer

By Author: Andrew Flusche
Total Articles: 3698
Comment this article

As a enterprise owner you must realize the importance of having lawyers on hand. You don't necessarily need a lawyer on retainer, but you should certainly have a trusted business lawyer in your contact list. Here are a few reasons why your enterprise might die without a lawyer.

Litigation help

The clear use of lawyers is to fight for your enterprise in litigation. This could mean collecting debts on your behalf. Or you might require a lawyer to defend your enterprise in a personal injury action. Perhaps you need support to fight for your rights in a landlord / tenant dispute. A qualified lawyer can help with all these issues.

Contract help

Business owners are constantly dealing with contracts. But if you don't know exactly what you're agreeing to, your enterprise could be in serious trouble. Having a reputable lawyer review your agreements and assist during the negotiations will ensure that your rights are solidly protected. Strong agreements can propel enterprises to success, but poor contracts can put you out of business.

Formation counsel

Even before your enterprise starts, ...
... you should consult with your lawyers. They are the best resource for helping you determine what type of business entity you should form. There is no one-size-fits-all business entity; that is a myth that some people might want you to believe. A good lawyer can talk with you about your needs and help you decipher what type of entity you should setup.

Tax advice

We all dread Uncle Sam. But you don't have to face the tax man unarmed. If you discuss your tax issues with your lawyer and accountant, they will be able to ward off potential problems before the IRS comes to knocking on your door. None of us want that!

Business advice

Even though lawyers specialize in the law, they can also help your enterprise with regular business counsel. They regularly deal with similar clients who are contemplating similar decisions as you are, so they can pour some insight into your decision-making process. In this sense, your lawyer can become truly a trusted advisor.

Don't let your business fail

As you can see, a lawyer has many roles to play in a successful business. Without this key player on your team, your enterprise most likely won't succeed. At the very least, you are asking for legal trouble in the future. Protect yourself and your enterprise. Hire an attorney.