There are two professionals that are important to every commercial setup: an accountant and a lawyer. While the reasons for hiring an accountant are pretty obvious, this may not be the case with hiring a lawyer. A good business attorney will be beneficial to your business set up in a variety of ways, from things such as incorporation to court representation.
One thing that you should keep in mind at all times as a business owner is that there are endless ways and situations that may require the use of a business lawyer who has specialized in commercial law. It’s especially important to use the services of a business attorney as your business starts taking shape since this is the time when your business is most vulnerable.
A business lawyer can be beneficial to your business
The following are some of the areas and ways in which a business lawyer can be beneficial to your business setup:
1. Securing of intellectual property
One of the most invaluable possessions of any company is its Intellectual Property (IP). In truth, the majority of businesses thrive from safeguarding their IP and using it to stay ahead of competitors. An experienced business lawyer will help a lot when it comes to registering and safeguarding your IP since they have enough know-how on the issue.
2. Navigating the legal issues of a business website
The online presence of your business contributes a lot to its success. However, you should keep in mind that this can also be a trap in terms of legal risks. Things such as collecting information from customers are guided by a set of privacy laws and regulations. For this reason, you should use the services of a well-versed business attorney to ensure that you don’t miss any of these regulations as this may result in a legal nightmare for your business.
3. Continued legal advice
As a business owner, one of the things that you should keep in mind is that there are far more legal risks attached to any business than you would expect. You may think that you are making the right business decisions at the moment, only to get surprised later on that you made decisions that are not compliant with certain laws. An expert in commercial laws will support your business by offering legal advice whenever you need it.
4. Strategic planning
You may think that planning your business should be a private thing since such plans contain secrets to the success of a business. Well, that is simply not the case since you ought to make plans that will not go against any legal guidelines. An experienced commercial lawyer reviews your plans and offers counsel where necessary, to ensure that you are on the right track.
5. Guide online operations
The world of internet and connectivity is associated with multiple legal risks. Things such as privacy policies, email practices, advertising, and others can put your business at risk without you having any slight hint. A business lawyer will determine the online operations of a business that may lead to legal issues in the long run, saving you serious disappointment.
6. Non-disclosure agreements
Since it is common for entrepreneurs to go to meetings with other entrepreneurs, you may require a business lawyer to prepare a non-disclosure agreement to help with protecting your business interests and ideas. That way, you reduce the risk of unintentionally giving your billion-dollar business ideas to someone who will want to take advantage.
7. Patents
If your business is a fairly new startup in a competitive industry such as technology, you ought to take issues related to patents with the seriousness that they deserve. That’s in consideration that there have been lots of cases where entrepreneurs who are just starting have lost their inventions to opportunists who went ahead and commercialized such inventions.
A business lawyer can help you acquire a patent for your invention, hence safeguard it from being taken advantage of by other entrepreneurs.
8. Owner/partner exits
Whether starting a new setup or running an existing one, the exit of an owner or founder of the business can have a serious negative impact on how the business runs. In some cases, the effect is so serious that a business can come to a grinding halt.
A commercial lawyer will make things easier by providing much-needed guidance on things such as interest calculation, buying a shareholder’s interest in the business, and more. That way, it becomes easier for the business to continue running without avoidable legal entanglements or serious financial burdens.
9. Guarding of trademarks
There will always be some entrepreneurs who like to take advantage of the businesses that are more successful by copying their work with the aim of tricking buyers. As your business rises and thrives, you will want to acquire a trademark with the help of an experienced business lawyer to safeguard your work and achievements.
10. Navigation taxation
An area of business that has quite a lot of risks that works against your business is taxation. A commercial attorney will guide you on ensuring that your business is tax-compliant while helping with things such as making tax filing simpler. In addition, business lawyers guide entrepreneurs on saving money and deductions to ensure that they don’t have a huge tax burden.
As if that is not enough, a good business lawyer has up-to-date information that is related to tax and licenses. As such, they will always use such information to guide you on how to run your business to avoid any legal issues.
Hire a Miami Business Lawyer
Whether yours is a start-up or an already-established business, we can offer your commercial attorney services to make things easier for you and ensure that you enjoy your peace of mind.
As a commercial law firm that has some of the best business law experts, you can rest assured that we have what it takes to help you run your business while steering clear of legal risks. On top of that, we offer a huge network of business lawyers both locally and internationally, to ensure that you are covered, no matter where you are.