When moving through different spaces in business, you’re going to be exposed to different risks, opportunities, and potentially different areas of the law that you may not usually have access to.
While this is generally a good thing, you do need to ensure that your business is operating within the legal framework of the law at all times.
From local regulations to statewide compliances and licensing requirements and everything in between, finding the right legal partner to help you navigate all aspects of your legal requirements, rights, and responsibilities as a business owner can be the difference between a thriving, safe, and prosperous company – or a very long, drawn-out presence in local courtrooms.
Now, you should always remember that finding a legal partner that works for you, isn’t always just a matter of picking up the phone and calling a local attorney. Different firms specialize in various elements of legal practice and industries and you have to find the partner that is going to make the most sense for you. American jurisprudence is well developed and our legal system is the envy of the modern world. We enjoy sophisticated legal protections both privately and in business, so for this post, we’re going to consider a few thoughts towards legal protections, in business.
STARTING OUT IN BUSINESS?
If you’re planning a business of one (that’s you), or yours is going to thrive and need 10 staff from the world go, you’ll need a business attorney to help you get started. A lawyer that specializes in business, understands all of the documentation, registrations, state and local regulatory compliances as well as financial aspects of a new business, and they can help you understand what you need to do, and when it needs to be done. You can read more, here.
In business, God is in the detail, and missing something seemingly insignificant could have bigger ramifications down the line.
CONTRACTS, CONTRACTS, CONTRACTS
Much like its sister-repetition, ‘location, location, location’ when it comes to property, in the business world, a missing word can render your contract unenforceable and thus (legal word), useless. If there is any area that you absolutely must retain the advice of counsel, it’s in the world of business contracts.
Now, this extends beyond service contracts between you and customers and suppliers to negotiating business contracts with other businesses when securing deals or entering into cooperation, you cannot imagine the potential pitfalls and issues that you could face by missing out on terms and conditions, exclusions, legal jargon and more. In this sense, a business lawyer is non-negotiable and most businesses won’t enter into contractual dealings with you, without one.
When moving around the spaces that your business occupies, you’re exposing yourself and your teammates to potential risk at just about every turn. If your business does not have sufficient legal protection from a liability point of view, you’re opening yourself up to lawsuits for negligence and incompetence that could leave you broke before the first day of trial.
The bottom line is this: you’re not going to learn everything you need to know about business law in this post, but we hope that we have given you a little food for thought and are inspiring you to take this element of conduction business seriously.