Every Business Needs Legal Advice

From time to time, every business owner needs legal advice. Whether you’re a start up company or an established company, getting some legal advice can save you thousands of dollars and lots of headaches. Truly an ounce of legal “prevention” can be worth tons of legal “cure.”

Doing business is legally complicated. Business owners have to deal with a broad spectrum of legal issues from contracts and employment matters to leases, non-competes, Trademarks, Copyrights, shareholder agreements, buy/sells, licensing, Internet, collections and business disputes. There are many legal pitfalls.

Here are some examples of situations in which a business owner may need legal advice:

“I don’t have anything in writing …”
“I am having some issues with my business partner …”
“This equipment is not performing as the vendor represented …”
“I am concerned about getting paid …”
“I have an employee who isn’t working out …”
“I want to protect my intellectual property …”
“I have a bunch of legal documents to sign and I don’t understand them …”
“The lawyer who handled my __________ doesn’t seem to understand the deals that I am trying to put together …”

How do you find the right lawyer for your business?

Ask for referrals from business colleagues. Some questions to ask include:

Have you had a problem with ___________ business issue?
How did you resolve it?
Who did you work with to resolve it?
Are you satisfied with how the lawyer handled your matter?
Did the lawyer return phone calls?
Did the lawyer meet deadlines?
Did the lawyer keep you informed?
Was the lawyer results-oriented?
Was the lawyer’s advice practical?
Was the lawyer’s fee reasonable?

When interviewing a prospective business lawyer, some questions to ask include:

What is your background?
Have you handled matters similar to mine?
What issues do you see?
How will you approach resolving the issues?
Who will be working on my case?
How will we communicate? Will I receive status updates?
What is the fee arrangement? Do you work on a budget?
How can we work together to keep costs down?
Can you give me some references?

In conclusion, working with a lawyer who is knowledgeable about business can help you avoid the legal pitfalls. Don’t assume that the lawyer who handled your real estate transaction or your divorce has the expertise to handle your business matters. You can obtain referrals for lawyers with business expertise from the local bar associations, phone books or from the Internet. However, word of mouth recommendations are usually the best way to find a good business lawyer with whom you can work effectively.

Jean D. Sifleet, Esq., CPA
Business Attorney & Consultant
120 South Meadow Road
Clinton, MA 01510

t. 978-368-6104
f. 978-368-6105
jean@smartfast.com

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Jean Sifleet, business attorney, CPA and three-time entrepreneur, is pleased to announce the release of her new book, Advantage “IP”: Profit from Your Great Ideas. Visit the Smartfast Bookstore for details, and to order the book.