How an attorney can protect a business’ bottom line

| Dec 14, 2020 | Uncategorized

Running your own business is an exciting, yet somewhat daunting venture. You will have to make many decisions as you prepare to launch your business so it will succeed. One you may not realize is important to protect your business’ bottom line is working with an attorney who has experience in practicing business law.

With an attorney’s help, you can minimize costly legal problems your business might face. Here are some of the issues a business law attorney can help you address.

1. Protection against liability issues

This includes helping your business ensure product safety and workplace safety, as well as obtaining proper insurance for premises liability and reducing risks for professional liability and management liability.

2. Strong business contracts

Having strong sales contracts, purchase order contracts, employee contracts, independent contractor agreements and nondisclosure agreements will protect your business against lawsuits and in future disputes.

3. Clear partnership agreements

Create a partnership agreement that will address:

  • what duties you and your business partners are responsible for
  • what your ownership stakes are in the business
  • how a business partner can exit the partnership if they want to

4. Review purchase agreements

Looking over commercial leases or property purchase agreements to ensure your business’ interests are protected.

5. Resolve business disputes

At some point, your business likely will become involved in a business dispute, whether it’s over a contract for services with a vendor you didn’t receive or a fallout with a business partner. An attorney can help your business resolve these disputes to minimize the costs to your business.

Anytime, your business faces legal challenges, you will spend time and money resolving them. By being proactive, you can minimize the chances your business will face costly legal battles.

You also can develop a strong relationship with your business attorney, so they understand your business needs and goals. You can establish trust with your attorney. Then when your attorney has to help resolve your business disputes, you can work together to resolve them in a timely and cost-efficient manner, protecting your business’ bottom line.