Whether you’re a startup or an established business in your industry, the chances of dealing with plenty of legal matters are huge. In such a case, having a lawyer by your side makes a lot of sense. Aside from the invaluable legal advice they can provide, they can also protect your company against any trouble that may arise along the way as a result of some working processes and business decisions.
Thus, if you’re running your enterprise quite sometime now, below are the four signs it may be time for you to hire a lawyer:
1) When You Need to Have A Written Agreement with Your Business Partners
Entering into a business partnership with your partners is a professional undertaking. While these people are your friends, it’s still crucial to enter into a written agreement with them to avoid misunderstandings and, in extreme cases, legal trouble.
Typically, a written agreement executed between you and your partners can provide proof of the details you’ve agreed upon during the negotiation. In other words, it serves as legal evidence for whatever terms and conditions all the parties involved have discussed and confirmed.
Thus, if you don’t want to be caught in a bad situation because of this, be sure to seek legal help. The importance of hiring a business lawyer shouldn’t be taken lightly since they can assist you in drafting the agreement while protecting your business interests. Also, they can watch out for any provisions that may not be beneficial for you and your business.
2) When Your Startup Business is Trying to Expand
While you may be an expert in the industry you’re in, hiring a lawyer will still make a lot of sense if you want your startup to expand and grow. Although you may have the experience and resources it takes to initiate the expansion, you still need the guidance of a legal professional in terms of understanding the policies, obligations, revenue models, legislative requirements, and the development of professional relationships.
For example, if you’re planning to expand internationally, your attorney can advise you about its legal implications and what you can do to ensure everything is done legally. Because of this, it’s always a good idea to find a lawyer to support your business growth and prevent costly mistakes that may result in legal disputes.
3) When You Recruit New People and Have Issues with Existing Employees
In most cases, you can’t recruit and hire new employees without drafting a proper work contract. This written agreement will be used to protect your business interests against any legal problems that recruitment may bring to your company.
For this reason, it’s a good idea to work with a lawyer who can assist you with the process. For instance, they’ll make sure the contract will include specific policies, such as non-compete, intellectual property, and non-solicitation clauses, which are all intended to safeguard your business from start to finish.
In addition, you may also require the legal services of an experienced lawyer if you have issues with your existing workforce. Regardless of the size of your company, there’ll always be some workers who are dissatisfied with the way you handle your business.
In some cases, you may end up dealing with your employees’ problematic behaviors, including insubordination. Thus, to ensure you have legal solutions for these issues, hiring a lawyer can be an excellent option. They can advise you on how to deal with difficult employees without getting into trouble with the law.
4) When You Seek to Wind Up Your Business
If you’re a business owner who wants to wind up and dissolve your business, then you shouldn’t forget to hire a lawyer to help you navigate the process. Typically, winding up refers to the method of dissolving a company wherein it ceases to do business as usual. From selling off stock to paying off creditors and distributing any remaining assets to shareholders, you need the knowledge and skills of a lawyer to get all these things done right.
After all, they know the procedures and requirements of winding up a business. Once they review the circumstances of your business, they’ll offer invaluable legal advice as to how to handle this delicate matter without any glitches.
Therefore, if you need help in finding the right lawyer for your business in Australia or wherever you may be, then you may consider contacting Sydney’s specialist legal recruitment agency to begin the search. They can assist you in securing the top legal talents that your company needs.
The Bottom Line
Indeed, you want to protect your business from beginning to end. Since it’s considered a significant investment, you need to keep your company out of legal trouble and function as smoothly as possible by hiring a business attorney.
So, to give yourself peace of mind, keep the signs mentioned above in mind, and you’ll know when should be the instances that require the services of a reputable legal professional.