Every corporation, despite its nature, size or location, can benefit from having an effective lawyer that specializes in business affairs on retainer. An experienced business lawyer can provide legal assistance at every stage of your business, from the conception and organization phase, to advising you of potential issues of liability, and defending you from frivolous claims and lawsuits that could threaten your corporation’s success.
If you do not have a business lawyer on retainer, you are not alone. Most business owners do not consider hiring a lawyer until they are faced with a specific legal problem or after they’ve been sued by another party.
An experienced and knowledgeable business lawyer can play an integral role in your corporation’s success. Here are four good reasons every corporation needs to hire a business lawyer:
1. To assist with the start-up and organization of the corporation…
One of the best times to enlist the services of a lawyer is at or before the start-up of your business. A lawyer can help you evaluate the viability of your business idea before you invest any capital. He/she can also help you choose the best structure for your company, whether a limited liability company or corporation, and help you identify any potential liability or other legal issues you may face.
2. To keep your corporation in compliance with applicable local and federal laws…
There are laws that govern practically any and every action your corporation wishes to carry out. However, because most entrepreneurs that decide to start a corporation does so with little or no legal expertise, many corporations fail to comply with laws that are applicable to them and as a result, they face fines, lawsuits and other legal actions. A business lawyer can make sure you’re aware of the laws and regulations that are relevant to your corporation, and prevent you from taking action that will jeopardize your corporation’s success.
3. To properly advise and structure partnership agreements…
As with most business partnerships, there will be times when all parties will not agree on the operations of the business, management decisions, employees, or salaries. If you are considering starting a business with another person or entity, or entering into some type of partnership, protecting your interests should be one of your top priorities. With the help of a business lawyer, you can have a partnership agreement drafted that will layout and define each partner’s expectations. By clearly defining the roles, responsibilities and expectations of each partner, you can limit the presence of disagreements and potential conflicts.
4. To prepare ironclad business contracts…
An essential component of any business relationship is a written, legally-binding contract. In Florida, there are three essential components that must be present in a valid Florida contract. If your contract lacks any one of the three components, it may not be considered valid and enforceable. Thus, the terms of the agreement that were in place to protect you and your company, can be considered null and void, denying you the very protection you sought during preparation of the contract. A business contracts lawyer can protect you from this potential pitfall by preparing an ironclad business contract that outlines the terms of the contract and possesses each of the three elements required in the state of Florida.
As with any business endeavor, it is imperative that you put forth every effort to protect your business and non-business related interests. Waiting to hire a business lawyer can be dangerous for you and your corporation. In the event a problem arises, you can better benefit from the assistance of a lawyer that you have an existing relationship with; a lawyer that thoroughly understands the ins and outs of your corporation.
Why risk your Florida corporation’s success by foregoing a business lawyer? By hiring a Florida business lawyer, you are one step closer to building the successful empire you’ve dreamt of. While you focus on what you do best, your business lawyer can focus on helping you protect, defend and build your corporation.
Mark S. Schecter is the founder of Schecter Law, a South Florida law practice that emphasizes commercial litigation and real estate law in the Fort. Lauderdale area. The business law attorneys of Schecter Law have decades of experience negotiating contracts, drafting ironclad contracts for small and large businesses, as well as defending and enforcing contract terms. Retain a firm of experienced contract attorneys that specialize in business law to prepare ironclad business contracts that will protect your interests and your business.