A business person is always busy reviewing their stocks, checking on the sales and marketing, ensuring that the numbers are correct and high! They are so involved in keeping a tab on accounts and employment that they seldom think of the legal team and its importance until they receive formal notice.
Now, it is okay to consult your lawyer friend for a suggestion, but it won’t last long if you keep asking them now and then! Your friend might confront you to hire them or some other specialised lawyer for advice (awkward!!!).
As a business owner, you should know, the most notable pillars of any company are accountants and lawyers. One calculates your money and advises you on how to double it, and the other ensures you don’t lose any money unnecessarily! Here are some reasons why having a legal team is healthy for your business,
Registrations and Expansions
A legal advisor is very helpful when it comes to registrations for businesses. If you’re starting some new venture and want to register, then the lawyer will take care of all the required documents and procedures.
The same goes with expansion. Testing the new waters can be exciting but it can equally be challenging. Expanding your business would mean you will have to concentrate on the new; all while maintaining the same momentum of the old. And, it can stretch you thin! So focus on the business part while your legal advisor does the rest of the expansion work.
Pro-Tip: It has become simpler than ever to find a lawyer for the firm. An AI-powered website with an extensive database such as GetEmail.io is just the answer you need. This tool can help you in finding email addresses for free. It also comes with a chrome extension to your Linkedin account. So, getting contacts on these professional platforms becomes easy.
Guarding your business
The legal advisor’s job is not just to manage and create legal documents but to save you from potential legal threats from the world. If a copyright infringement or someone is suing the company to make a quick buck, you need to know your stand.
As the business grows, you will find yourself facing many legal issues. Be it a distributor’s conflict or some office scam, there can be a possibility of peculiar disputes as you meet all kinds of people. In such cases, having a corporate lawyer can be very valuable.
Terms and conditions
We see terms and conditions document for every product purchased or every website visited. The document can be lengthy, boring & yet very worthy for the business owners. It has all the clauses that can save you from going bankrupt.
Policies or terms & conditions are nothing but a set of rules you create to inform the customers. These rules state that the product they use cannot be misused or manipulated in any way and, by doing so, will result in a legal proceeding. Drafting these policies requires extra attention and time to avoid any loopholes.
Agreed that you play fair with your business. Though it can’t be said the same when it comes to people you deal with. Legal issues can pop up from anywhere. So, it is ideal to have an advisor to help you navigate towards a smoother business flow. After all, it is better to be safe than sorry!