Do you believe that your business doesn’t need general legal counsel? Do you think that your business will likely never encounter a legal issue in the course of its operation? If you answered yes to either question, this blog is here to tell you why that misconception is the biggest lie you will tell yourself about having a business. Quite often, these misconceptions harm you and your business’s bottom line beyond repair. The key here is remembering that without having a legal guide with you now, you could face disastrous legal consequences in the future.
Do any of these thoughts below sound familiar?
1. My business is too small! I don’t need a lawyer.
If you are just starting your business, or plan to keep it small, general counsel can help you stay in compliance with the laws that regulate your business. A little preparation and review now can go a long way in keeping you legally protected from future litigation and claims.
2. What could possibly happen with my small business that I’d need a lawyer for?
If you own a business, whether small, medium, or large, you will likely have already encountered a lawyer. Going the DIY route these days can cause significant headaches down the road. A lawyer probably helped you sign and file the documents necessary to bring your business operations to life. A lawyer may have helped you find a property to do your business in and reviewed the lease for you. Many people think that having a lawyer means you’re going to court and suing another party. However, lawyers have a hand in everything to do with a business, whether it’s in your contracts, in representing you against a party trying to sue you, in helping you get your business’s intellectual property out… the list goes on!
3. Even if I did hire general counsel, it’s too expensive! I can’t afford that.
General counsel services are cheaper than having to hire a lawyer to take a matter to court where you’ll have to pay legal fees, court fees, and more fees over an extended period of time. The litigation process is long and drawn out. Is your business financially ready to take on such a heavy expense? The truth is most businesses cannot afford to go to court over a matter, and most end up going into settlement. The bottom line is that the price you pay in retaining general counsel far outweighs the risk of litigation or a claim against your business. Be preemptive, instead of reactive.
4. I’ll hire a lawyer later, when I actually need them.
Having your own attorney that knows you and knows your business is irreplaceable and invaluable if you get sued. If anything, having to find the perfect lawyer who then has to go and look into your business and your case and doesn’t understand you will only add more stress to an already stressful situation.
Let Trembly Law be your guide and your advocate. We offer general counsel services for businesses of all sizes and we would be honored to represent you. Please call us at (305) 431-5678 or contact us here if you have any questions.