This post is provided by Jason Dirkham.

Whether you’re a long-time small business entrepreneur or you’re starting out on your own for the first time, having a good relationship with a law firm is a good idea. 

You might think that the only time you’d need a lawyer is for negative circumstances. Or that they charge sky-high prices that are unaffordable. But there are more times than you realize when having a good attorney on your side can save your bacon. 

Here are the top five times when you’ll need a lawyer on your side as a small business owner. 

Starting Out

Starting out with a business idea as a new entrepreneur is fraught with difficulties. And because it’s your first time facing them, it’s unlikely that you know what to do when you’re faced with them. Having good legal counsel when you first start out is paramount. They’ll help you navigate many tasks that’ll enable you to get your new venture off the ground as quickly as possible.

Here are just a few things they can help with;

  • They can help you decide what business entity you should function under, like an LLC or corporation.
  • Lawyers can find out if your business name is already in use and help you protect it if it’s available.
  • Making sure you have the right permits to function legally is essential. Having a qualified law team makes sure this is done for you.
  • They’ll help you create business contracts with your best interests in mind.
  • And lawyers can help you patent your big business idea.

Disgruntled Former Employees

While we all want to think former employees look back on their time with us as blissful, it’s not always the case. And in the worst cases, they can try and bring legal action against you.

This is something that should not be navigated on your own. You should have good legal counsel backing you. Whether the lawsuit is because of personal injury or discrimination, a good lawyer will make sure you come out looking as good as you can. And without having to pay out cash, you don’t have as a small business. 

Buying Or Selling

Maybe you’re looking to expand and want to buy another business or property. Or your small business has come to a point where it’s time to say goodbye and move onto pastures new. Whatever the reason, having a lawyer on your side regarding buying and selling is vital. 

There’s a lot of paperwork, legal jargon, and splitting of assets that go into buying and selling. And it’s not easy to navigate on your own. Experienced lawyers will make the whole experience seamless and simple. 

Big Ticket Contracts

You’ve bagged the big business deal. Now comes the time to draw up contracts. And there’s a lot that goes into these contracts, especially if they’re only going to be for a specified period. A lawyer can read through the contracts and ensure they’re legally sound and have your best interests at heart. 

Don’t Forget About Tax

Not doing tax, or not doing it correctly, will leave you in a pickle. You might be out of pocket, and it could damage your reputation. Business tax isn’t the same as personal tax, so there’s a lot to go through. And it can be confusing knowing what is and isn’t tax-deductible. So get it done right with a lawyer.

Final Thoughts

Lawyers can help you navigate a huge variety of difficulties in business. But not only that. They’ll also help you get the most out of every action you take and every penny you spend. And as a new business, that’s vitally important. 

Before you hire your lawyer, remember these 3 things;

Always Have A Lawyer Specific To Your Needs

You might not be aware, but lawyers can specialize in specific areas of law. Make sure the one you’re hiring is right for your needs. For example, if you’ve been in a truck accident, you’ll want highly experienced truck accident attorneys. So as a business, it’s likely you’ll need one experienced in business law. 

 Busy Lawyers Are Busy For A Reason

If the lawyer you want is busy, try your best to hire them. That’s because busy lawyers mean one thing. That they’re skilled at what they do, and they’re highly sought after. Hire them. 

 Nail Down Costs

Lawyers can be expensive. And the way they charge can differ hugely depending on how popular they are and where they’re situated. Nail down costs and costing first, so there are no nasty surprises down the line. 

This post is provided by Jason Dirkham.