Do I Need a Business Lawyer for My Small Company?

business owner

Once you set foot in the corporate world, you’re likely to be welcomed with a lot of responsibilities and duties. Running a business is by no means an easy task: it requires dedication, motivation, and perseveration.

Among the many things that have to be handled when it comes to operating a business are the legal issues, which will inevitably lead to many uncertainties. If you’ve recently started a small business, the probability of being informed about all these issues is little; that’s why we recommend looking for professional help in this regard.

More often than not, handling legal issues is easier said than done, so hiring a lawyer specialising in business cases is the best way to keep up with all the uncertainties. Not only will they protect you against liability, but they’ll also provide peace of mind. While having a trusted attorney to take care of legal matters, it’s way easier to direct your focus to core tasks to push your company forward.

And don’t worry if you don’t know where to start; we get it – the myriad of corporate responsibilities can make you fly off the handle. That’s why we’ll walk you through the different types of business attorneys and the benefits of hiring such professionals so that you’ll be able to make the best decision.

Different Types of Small Business Lawyers

General Business Lawyer

As their name suggests, general lawyers can handle various legal tasks, such as filing business documentation, developing internal business policies, and drafting agreements or contracts. Thus, if you’ve just got into the business, this type of attorney is a good start, given that they can help you on various legal matters. But before hiring them, make sure your company can be covered in different scenarios that could affect your liability. If not, move on to hiring a more specialised attorney.

M&A Lawyer

If your business is growing fast so that you get to buy or acquire more assets, it would be helpful to hire an M&A (Mergers and Acquisitions) lawyer. Companies handling frequent transactions benefit from the help of such a professional: M&A attorneys help them in the negotiation process, which is daunting and complex. Before negotiating a deal, various documents and filings are required, and if you’re not informed enough, the opposing party may negotiate only for their benefit. A lawyer specialising in mergers and acquisitions has your best interests at heart and ensures your business is protected, not overcharged.

Intellectual Property Lawyer

If your business involves trademarks, copyrights, or patents, an intellectual property lawyer may be just the right thing for you. They protect your products from being copied by other similar brands, but they also assure you don’t infringe on the intellectual property concerns of other businesses. You can be in violation without even realising, and trust us – you don’t want that: intellectual property violations are some of the highest settlements for lawsuits.

Employment and Labour Lawyer

If your small business has employees, you should know that you must comply with state and federal regulations. Everything from providing proper training, creating employee manuals, firing an employer, and ensuring safety standards is part of your list of responsibilities. An employment and labour lawyer, in this case, ensures all these standards are in place. Such attorneys can also help in the event of a worker suing your company for personal injury. Based on your unique case, hire a lawyer who has the necessary experience to protect your liability. Cases such as inadequate worker training, slips and falls, auto and motorcycle accidents, or exposure to harmful substances are quite common. So, it would be helpful to get in touch with an accident lawyer in the UK to handle your case properly.

Contract Lawyer

If your business implies drafting contracts for your customers, you should know that you must cover all the specifics for your business. Otherwise, you can have legal problems not informing the client about the agreement’s different provisions. We know that there are a lot of visually appealing templates on the Internet, but it would be best to hire a specialised attorney to make sure you include all the necessary information in your contracts.

Tax Lawyer

There’s nothing new under the sun that you have to pay taxes. But business taxes can get complex. For this reason, it would be useful to consult a tax lawyer to help you file income taxes, complete an annual audit, fill out financial documentation, or any other legal requirements. This is especially necessary as your business grows – you’ll inevitably have more taxes to handle.

Top Benefits of Hiring a Business Lawyer for Your Company

  • Protect your intellectual property
  • Draft contracts
  • Development of real-estate leases and agreements. Unless you operate your business from home, you’ll probably need a space to set up an office or deposit your goods. Believe it or not, even this aspect has a lot of consideration, whether you choose to buy or lease a property. A contract lawyer can help in this respect, ensuring both parties respect the terms and agreements.
  • Handle disputes and litigation. Disputes are pretty common among businesses and sometimes can lead to litigation. That’s why it’s imperative to have a specialist by your side in such a situation – to ensure your rights are protected and prevent lawsuits. No business owner wants to get involved in legal disputes since these can significantly affect the brand image.
  • Protect your interests and assets
  • Decide on the most suitable business structure. This aspect can sometimes be overlooked, but it doesn’t mean it’s unimportant. Having a proper business structure protects you from liability and helps you escape potential legal issues in the future. We advise you to hire a business lawyer because they’re professionals who help you understand liabilities, employee inquiries, tax obligations, and setup costs so that you can act accordingly. 
  • Expertise in specific areas of specialisation. As you’ve already seen, there are various types of business lawyers – general, contract, tax, labour, acquisitions, or intellectual property lawyers. Thus, you should find a lawyer specialising in your area of interest, no matter your case.