Why does my business need general counsel?
Many people who start or run small businesses won’t deny the benefits of having General Counsel. Even a standard practice such as offering employee benefits may require one. Some professionals may avoid contacting attorneys not because they don’t see the benefit, but because it doesn’t make financial sense yet. While many small business owners do not need to house a full-time attorney, they could receive substantial benefits from outside general counsel aligned with their culture, values, and goals.
With that in mind, we wanted to highlight a scenario in which having general counsel is an efficient way to spend a portion of your business’s operating budget. If you are delaying your first meeting with legal counsel, now is the opportunity when having a lawyer is likely in your best interest over the long term. Preventing issues before they surface is a way to save both time and money.
Your Business Maintenance Plan
The average business owner sees the inherent value of having an attorney draft contracts and assist with compliance assessment, but many people wouldn’t associate legal counsel with business maintenance planning. It ties back into what we previously discussed regarding the need to focus on preventing issues instead of resolving them through costly and stressful litigation.
A sound business maintenance plan is a form of protection as much as it is a recipe for long-term growth. When you have an efficient system, you can identify potentially dangerous conditions that could harm your employees or customer base. For example, you may operate a warehouse with heavy machinery or a small gym with barbells on the walls and large racks meant to hold hundreds of pounds of weights. It is important to note that you can mitigate risk rather than outright eliminate it. Nonetheless, the potential for injury remains. You can give your attorney your business maintenance plan and the accompanying documentation to assist you with developing these systems and processes in maximizing your protection and limit your liability.
To take this in another direction, there are also financial incentives to have a business maintenance plan. As a business owner, you don’t want to run your equipment until it fails. Again, this could be as simple as ensuring your HVAC system won’t shut down mid-summer because you haven’t been inspecting and changing filters on a quarterly or bi-annual basis. Regardless of your equipment, a business maintenance plan can ensure efficiency. Repairs could lead to halted operations, requiring you to spend money on fixing an issue that could have been avoided. The amount of money you invest in upkeep will be minimal when compared to the cost of replacements and/or loss of profits.
Get Legal Counsel on an As-Needed Basis
Attorney Brett Trembly was one of the first litigation attorneys in South Florida to advocate for having access to a lawyer on an as-needed basis rather than in-house. Elias Correa, Partner & Chief Legal Officer at Trembly Law, leads the General Counsel program at Trembly Law. Fueled by their passion for strengthening the economy, the team at Trembly Law works hard to protect business owners. Regardless of our relationship with you, we always view ourselves as legal members of your business. We will support you with assessing your risks and ensuring you have contracts that protect you. Contact our firm to schedule your consultation with one of our highly experienced business law attorneys.