Hiring a lawyer is more like
visiting a doctor. No one likes to visit a doctor for a common cold. We keep
delaying it till we are down with a pneumonia and it starts hampering our daily
work schedule. Most business owners are faced with this dilemma before
commencing a venture: Should I hire a business transaction lawyer
upfront? Or, can it be delayed till a major legal issue comes up?
Preventive action is always
better than a corrective one, from both monetary and logistics standpoints. A business litigation lawyer
charges you only a minimum fee to keep you out of trouble in comparison to the
fees he charges to pull you out of trouble. This is in addition to all legal
tangles you have to unwind yourself out of in the courts or in an out of court
settlement. It's always advisable to hire the services of a reputed business
transaction lawyer before venturing out in a small business formation or a
large business formation.
What are the areas where adequate legal help will
be required for starters? They can range from dealing with legal issues related
to purchasing property, business registration rules and regulations, complying
with labor laws, preparation with filing of a multitude of business taxes like
Federal, State and local tax returns, dealing with disgruntled employees suing
the company and even basic steps like preparation of business contracts and
offer letters. Business
transaction lawyers also help out in document preparation,
preparing negotiation clauses, applications for various operational and safety
licenses and maintaining a formidable legal potential for the business from
potential disruptions. From copyright and trademark issues to dealing with
lawsuits and liabilities, business litigation lawyers are
involved every bit. Often the owners of a business and entrepreneurs don't have
a complete knowledge of all legal bases to be covered, while the risk of
oversight is always present. The services of a lawyer are essential to ensure
that your business is functional and compliant.
Once you decide on availing the
services of a business
transaction lawyer, you will be faced with the options of hiring
an individual lawyer or a law firm? Over the past decade, the roles and domains
of lawyers have become extremely specialized. It might be too big an ask for a
solo lawyer to deal with all aspects of your business. Of course, the decision
depends upon your budget allocations too as the services of a law firm are
costlier by the hour. But the advantages of a law firm are manifold. Often it
becomes extremely cumbersome for an individual lawyer to deal with issues from handling
lawsuits to negotiating for real estate spaces, filing for trademarks and
overseeing patents to drafting software license sharing agreements, terminating
a problematic employee to drafting minutes for a corporate general meeting.
Very often it happens that the business owners have to avail the services of
2-3 individual lawyers who can refer cases to even more specialized lawyers. Law firms are a single stop
solution for all legal issues. Secondly, the weight and authority of a letter
from an eminent law firm having offices across all States is much more in
comparison to that from an individual lawyer who might not be even practicing
in a particular State in question.
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