Business ownership is not for the unambitious or for those with a short attention span. Attention to detail is crucial, and you must be prepared to respond to any number of issues at any given time. You are likely to find that one of the biggest things you need to pay attention to are legal matters.
For small to mid-sized business owners, hiring full-time, in-house counsel may not be a viable option. However, when you’re dealing with legal concerns, this takes valuable time away from running other parts of your company. In addition, if you don’t come from a legal background, it’s easy to overlook essential details. A filing error or an inadequately drafted contract can prove to be disastrous.
Meeting the legal needs of your business
The most effective way for you to help ensure the legal requirements of your business are handled properly is to work with outside counsel. Outside legal counsel can help keep your operations running smoothly. An attorney can help with a wide range of legal issues, including those involving:
- Tax planning
- Contract drafting
- Commercial transactions
- Partnership disputes
- Business succession planning
- Business litigation
If you find your business is the target of a lawsuit, outside counsel can work to resolve the issue without immediately resorting to costly litigation. If a court battle is unavoidable, your outside counsel will be there to ensure you’re prepared to defend your interests tenaciously.
Flexible legal services
When you work with outside counsel, you will only get the legal help you need when you need it. You don’t have to worry about carrying a lawyer on your payroll, wondering what exactly you’re getting out of the relationship.
When you’re considering hiring an outside attorney, ensure that they have the skills necessary to help meet the needs of your business.
Outside counsel may not be able to provide you with every possible answer to your legal questions. However, they should have the knowledge and resources to point you in the right direction to get you the help your business needs.