Every business owner will benefit from having a lawyer as part of their team. Sometimes, lawsuits are filed by your employees or a member of the public unexpectedly, and if you don’t have a lawyer, you could be left with some hefty legal fees to payout.
Law firms such as Lamber Goodnow are comprised of an expert team of professional lawyers who work with a number of clients, from individuals to small businesses to large corporations. They can create a strong case in your favor to win any claims that are made against you.
Here are five top reasons why your business needs to hire a lawyer.
1. They Can Protect You in the Event of a Claim
If one of your employees or customers received an injury while on your premises, they may file a claim. If you are threatened with legal action, having a lawyer that is already part of your team makes the process of refuting the claim much quicker.
As well as this, if your lawyer has worked with you on a case beforehand, they likely know how your business works. This will save you time having to go through the finer details of your claim and helps your business gain the advantage.
2. They Can Double-Check Your Legal Agreements
When presented with a long and wordy document, many business owners sign without reading the fine print. When your business has incomplete or vague agreements, clients or employees may spot the missing details and use them against you. In this case, they may file a claim against your business.
Regardless of the type of business you run, having a lawyer on your team can make it easier to resolve any problems. Your lawyer can spend the time scanning through every one of your legal documents to ensure they are completed to a high standard.
3. They Can Help Organise Your Taxes
Taxes can be confusing. If you don’t sort them out properly, it can lead to a number of problems, including substantial fines and even the possibility of being prosecuted.
For this reason, many businesses hire accountants and bookkeepers to help them. Attorneys can also be useful when it comes to organizing your finances.
They can help you get an employer identification number and will double-check that you are following all of the local and national laws and regulations. They can give you additional advice on your tax payments as a business owner to ensure you’re paying the right amount of tax each year.
4. They Can Spot Any Loopholes Within Your Business
Where do you own a small start-up business or an established organization, there is always the risk of loopholes appearing. You’d be surprised at how observant your clients or partners can be when reviewing their contracts. Before you know it, they are filing a claim or demanding more from you based on a small loophole that they have spotted.
A lawyer can run through all of your contracts and documents to check for any details that have the potential to create problems. Protecting your business using an expert attorney can save you a lot of money and time in resolving preventable problems caused by unseen loopholes.
5. They Can Overcome Payment Issues
Unfortunately, there is always the possibility of a client, customer, or partner refusing to complete payment for any goods or services you have provided.
Many of these situations can be resolved between you and the individual through civilized conversations. However, if you’ve tried and failed at this, you can turn to your attorney for help and advice.
Having a lawyer on your team can organize for immediate action and make it much easier to obtain the payment you are owed. They will know which steps are necessary to collect the payment, meaning you can continue with your day-to-day business operations without these extra worries on your mind.
If you are a business owner, you absolutely need a lawyer on your team. You will have peace of mind knowing your legalities are covered, meaning you can concentrate on other aspects of your business.
Making the small investment in hiring a professional attorney can save you a bunch of time, money, and energy in the long run.