Navigating the world of business ownership is challenging. Decisions are made every day that effect the quality and profitability of every business, small or large. Employees must be hired and fired, contracts signed, monies collected, and rules followed. Owners bear the brunt of this responsibility, but hiring a qualified law firm to guide and assist you is good business sense. The legal maze of owning and operating a lucrative business is always changing. Mistakes can be avoided and potential problematic situations can be squashed with the help of a knowledgeable attorney.
There are key things that a comprehensive business attorney can provide. They may seem like common sense, but a thorough understanding of law improves both the process and outcome.
- Hiring: Use a lawyer to screen potential employees. They have more resources for background and criminal history checks and character references. Business law firms are experienced in interviewing and what can and cannot be asked of by law.
- Termination: Firing any employee is a high tension situation that can have grave legal ramifications. Consult a lawyer before, during and after a termination to avoid issues that can be costly, time consuming and potentially dangerous.
- Employee handbooks: It is imperative that every business have a comprehensive employee handbook. An experienced attorney will create a handbook that covers all the legal aspects of the employer/employee relationship, in addition to detailed company policies.
- Contracts: Contracts are both a vital and problematic part of business. Allowing an attorney to review and negotiate contracts is the best way to avoid breaches and broken contracts.
- Start-up advising: Consulting a lawyer at the earliest stages of starting a business is imperative to ensure the health and longevity of any company. If wise choices are not made on the outset, the business will suffer.
- Discrimination: There is zero tolerance for discrimination in today’s business world. Using a lawyer to avoid issues that can lead to serious and costly lawsuits is imperative.
- Debt collection: No company can survive if there is no money coming in. A law firm will solicit collection letters with more legal impact than a business owner, resulting in a higher collection percentage.
Using a law firm that specializes in business law is vital to the health and well-being of any company. From the smallest start up to the largest multinational corporation, every company that thrives is built on sound business decisions. Developing a strong relationship with a trusted attorney is key in making sure that those decisions are the strongest ones possible.