Running a business requires skill, insight and determination. To ensure your company grows and prospers, you must have a good product and a ready market − and you also need to retain the services of a good lawyer. Law and business are inextricably linked. The very act of creating a business is a legal one, as your company must operate, expand and change within a complex cluster of laws and regulations. Business lawyers are the only professionals with the expertise to help you in this area. Whether you’re an entrepreneur establishing your first company or you’ve been recruited to run an existing business, there are many reasons why a business lawyer is a must.
What Business Lawyers Do
Your company will need to adapt to the conditions of the marketplace if it’s to be successful. To do so, you’ll need to create opportunities and take advantage of any that come your way. A business lawyer can help you with the following:
You’ll need a workforce, which means hiring employees and outsourcing work to independent contractors. Your lawyer can help you draw up contracts that protect you by minimising your risk and liability.
Mergers and Acquisitions
As you grow, you’ll eventually command the resources to buy other companies, including competitors. You might also decide to join forces with another company in order to strengthen your position within the market. Mergers and acquisitions are highly complicated affairs, which is why it’s important to seek out highly experienced business lawyerswith expertise in the area.
Compliance and Risk Management
Your business must operate in accordance with the rules and regulations set by thegovernment. Environmental, employment and zoning laws change all the time. Your lawyer will advise you on what you must do to remain compliant. They’ll also develop systems to monitor and minimise risk.
Resolving Employee Issues
Even if you decide from the beginning to be a fair, just and generous employer, issues will always crop up. These issues can be the most problematic, as they’re the most varied and unexpected. A business lawyer can help you resolve problems relating to disability, discrimination, sick leave, sexual harassment and workplace safety.
Real Estate Issues
Whether your company owns properties or leases them, it’s likely you’ll have to deal with legal issues. Business lawyers are instrumental in negotiating sales and leases, helping you sort through the complexities of real estate and tenant laws.
Why You Need a Lawyer to Stay in Business
Being in business makes you a target. You’ll be constantly be watched and monitored by regulatory agencies, competitors and individuals alike. One wrong move can make you vulnerable to a lawsuit, which if won by the other side can mean the end of your company. If you’re the target of litigation, you’ll need the advice and assistance of a business lawyer who can either take up the case themselves or find you an experienced litigator who can be trusted. Your lawyer will work with the litigation team to get you the best outcome possible.