Do you truly need a legal advisor for your business? Only you can decide this, ultimately. However, a legal advisor can offer a great deal of benefits that be strong for your business. Follow along as we look at the reasons why you should consider one.
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Don’t Get Into Trouble
As many business experts warn, such as present in an article on home businesses, you have to make sure that you are on the “right side of the law” with your business.
Certainly, zoning laws and others pertaining to home businesses can be tricky, though they are not the only businesses in this situation. Traditional businesses will need to examine property laws, employment laws, and so forth. Online businesses will need to look at how they advertise, legal policies and disclaimers present on the website, and transactions in addition to other items.
Whatever the case may be – however your business does business – you can count on some type of legal areas that may need legal advice. According to the same article, fines could potentially wipe out more than the profits of the first year of the business. Certainly there are plenty of horror stories concerning lawsuits that have wiped out businesses entirely.
A Myriad of Situations
Needing a legal advisor can be seen in plenty of examples. While we won’t get into all of these, it is important to take a look at some common items that you may see.
You shouldn’t be surprised to see business insurance on this list. When you compare business insurance policies, a legal advisor can be extremely valuable. From vague language to other items that can significantly affect the value of a policy, a trained legal eye can be very good to have on your side. This will also be important for when it comes time to reconcile local laws with that of risk on a business insurance policy.
Take another example, using a quotation from an article in Improve My Business: “’Your first step must be to talk to your legal advisor,’ says consultant John Broweleit from Anson Partners. ‘Different companies use different employment contracts, laws vary between states, and industrial awards may also need to be taken into account.’”
Something like this could be a tricky situation. Copyright laws on your business website may need to be looked over, in case you are doing something in an incorrect manner. How do worker’s compensation laws affect your business? How do you go about giving insurance to your workers? As you can see, there are plenty of reasons why you might need business insurance and legal counsel – potentially in different areas of law, as an article from BusinessBlogs explains.
Don’t underestimate the many legal needs of a business. Take some time to evaluate the legal items that can affect your business, as you think about whether a legal advisor is necessary.
