It is quite common for business owners and entrepreneurs to wing it regarding legal matters. From business formation to contract compliance, many owners are willing to take their chances in legal matters. However, while your chances of successfully navigating the complex world of law may be higher if you have experience in the industry, all businesses should consider hiring a legal professionals when contending with lawsuits.
Today’s world is filled with legal cases ranging from somebody spilling hot coffee onto themselves to big companies wanting to sue other big companies. It can be tough for even a business person with experience in their field and success behind them to navigate the murky waters of the law and avoid possible pitfalls.
Here’s a list of some things that might make your business take the next steps and hire a professional.
1. Lawsuits from Employees or Clients
In doing business, you may find yourself being sued by an employee or a customer. It is very helpful to have legal professionals on your side in either case. When faced with lawsuits from employees, several points could become critical:
- Does the employee have standing?
- What defenses might be applicable?
- Is it necessary to bring a third party into the suit (legislation)?
There are often other factors at play in these cases that can easily seal a business’s fate without legal assistance. Sometimes an employee may get an injury that makes them unable to work. In this case, North Carolina work injury lawyers would be able to help you determine what kind of compensation they might be entitled to receive. Also, a business with a slip and fall case on its hands is a good example of how a skilled attorney would help you with that situation.
2. Contract Compliance Issues
Whether you have a small business or a Fortune 500 company, you can get entangled in contract disputes. If there isn’t an attorney around to review the contract you’ve been presented with, then your chances of losing are greatly increased. Some contracts require either one party or both parties to follow particular procedures to remain within legal boundaries (for example, notifying certain people before entering a certain property). If you fail to follow these procedures and the other party decides to sue, your chances of successfully defending yourself could be hurt by lack of preparation.
3. Business Litigation
Sometimes, you can take legal action against another party, whether a customer or supplier. Your business might be seeking damages for something that happened on their part (such as fraud). If business litigation between your company and another is headed to court, then hiring an attorney early on can help you immensely. Without hiring a professional, small errors could end up costing you the case in favor of the other side without even realizing it.
4. When Dealing With Company Formation
Whether it is a small business or an international corporation, this step of the process should be taken seriously and with the highest level of legal preparation. Many pitfalls can lead to losing your company’s reputation and even preventing you from fully operating your new company. When dealing with such complex matters as formation, hiring an attorney is always a smart choice for any business owner.
5. When Dealing With Government Matters
Whether you are seeking a permit, applying for an exemption or license, or simply requesting zoning changes in your area, dealing with the government will be necessary at some point. Hiring legal professionals is always recommended if you lack experience with legal matters involving local and state governments. Avoid the headache of making costly mistakes that aren’t easily recoverable by hiring a lawyer to represent your business in these scenarios.
6. Handle Your Legal Matters Is An Investment
You may think that spending money on legal help is pointless – after all, even if you win the case, your business is no better off for having spent the money. However, hiring professionals can save you more money in the long run by insulating you from lawsuits and enabling you to make better deals when signing contracts or handling other legal matters. While they do cost more initially, most businesses save money in the long run by hiring a professional, and, as previously mentioned, you can expect to be offered a better deal if you take this approach.
While any business owner can navigate the waters of law without help from a lawyer, it’s an extremely risky proposition. Getting sued would likely doom your company – not only will you lose everything that you’ve built up over time, but you could also wind up owing the other party more than what your company is worth. The statistics bear this out – many legal disputes end with one party declaring bankruptcy, which means that they no longer legally owe anything. It makes sense to consider working with a professional legal office before dealing with any legal issues or disputes with such high stakes involved.