As a young entrepreneur, chances are you’re not too familiar with the ins and outs of business law. That’s perfectly understandable—after all, there’s much to learn. However, while you’re busy growing your business, you also need to be aware of the legal implications of your actions.
According to a study by The Zebra, 35 to 53 percent of small businesses face legal challenges yearly. Sure, there’s a lot to keep track of. But if you don’t know what you’re doing, it’s easy to make a mistake that could cost your business dearly.
That’s why it’s crucial to have a team of professionals in your corner who can help you navigate the world of business law. By having the right people on your side, you can be confident to face whatever legal challenges come your way. So, who are the professionals who can help you deal with legal issues in your business? Here are four key players who should be on your team.
Every business deals with contracts, whether it’s a contract for goods or services, a lease agreement, or an employment contract. A contracts lawyer can help you understand a contract’s terms and ensure that it’s fair for your business. They can also help you negotiate the terms of an agreement so that it’s more favorable for your company.
Especially if you’re new to the business world, having a contracts lawyer on your team is crucial. They can help you avoid getting into deals that could be detrimental to your business. Although you may be able to find some contract templates online, it’s always best to have a professional review them before you sign anything. This way, you can be confident that you’re not missing anything important.
Several attorneys may specialize in contract law, so be sure to ask around for recommendations. You can also check with your local bar association for a list of qualified contract lawyers in your area. And with enough research, you can find the proper contracts lawyer for your business.
Intellectual property lawyer
If you have a business that deals with intellectual property, then you need an intellectual property lawyer on your team. These lawyers can help protect your company’s copyrights, trademarks, and patents.
In the U.S. alone, 12,000 intellectual property infringement cases are filed annually. And with the rise of the internet, intellectual property theft has become even more common. So, if you want to safeguard your company’s intellectual property, you need an IP lawyer.
An intellectual property lawyer can also help you if someone infringes on your company’s IP rights. They can send cease and desist letters and help you file lawsuits to protect your business. With an IP lawyer on your team, you can be confident that your company’s intellectual property is in good hands.
A trusted process server also plays a crucial role in small businesses. These professionals serve legal documents to the parties involved in a case.
For example, if you’re suing someone for breaching a contract, the process server will deliver the complaint and documents to the defendant. Process servers can also serve subpoenas, which you can use to gather evidence for a case.
You can benefit from having a process server on retainer so they can be ready to serve documents at a moment’s notice. In doing so, you won’t have to worry about finding a process server whenever you need one. And with the help of a process server, you can be sure that legal documents get served correctly and promptly. As a result, your case can move forward smoothly.
Filing a civil suit can be complicated, but having a process server on your team can help make things easier.
Accountant or bookkeeper
Although an accountant or bookkeeper may not be a lawyer, they play a relevant role in legal issues. That is because they can help you keep track of your company’s finances and ensure everything is in order.
For instance, if the IRS audits you, an accountant can help you prepare your documents and records. They can also represent you during an audit, so you don’t have to worry about it. In addition, an accountant can help you create a budget and financial projections. This way, you can make sound decisions for your business.
Keeping track of your finances is essential for any business. But with the help of an accountant or bookkeeper, it can be much easier. These professionals can take care of all the financial paperwork for you to focus on running your business. Thus, making your life much easier
While no one likes dealing with legal issues, they are a fact of life for businesses of all sizes. By working with a team of qualified professionals, however, you can rest assured knowing that your business is in good hands.