3 Situations Where You Definitely Need a Business Lawyer

While it may be tempting to turn to the Internet for your legal needs, there are three important instances when you will want to consult with a real live business lawyer:

Entity Formation

When you are ready to start your business, you will need the advice of an experienced business lawyer to assist you with entity selection. While the easiest way to launch a business is as a sole proprietorship, it is not always the best way. A business lawyer can help you consider the long-term implications of your entity selection decision — sole proprietorship, limited liability company (LLC), S-Corp, C-Corp or partnership — by laying out the legal and tax advantages and disadvantages of each. By considering your long-term vision for your company, you can save money upfront by choosing the proper business entity.

Intellectual Property Protection

Just about every business has some form of intellectual property to protect, and doing so from the outset with copyrights or trademarks will ensure that you reap the benefits of your IP for years to come. Engaging a business lawyer early in the process can save you from costly litigation down the road. If your brands become successful, there will undoubtedly be attempts by others to infringe upon your trademarks or copyrights. This can usually be avoided by having an attorney who can send cease-and-desist letters to potential infringers, warning them they face potential litigation. If you don’t take the necessary steps to protect your IP, you risk not only brand erosion but also a loss of legal protection for your brands.

Legal Documents

Every business uses contracts and agreements as a normal course of business to protect their interests. But if these contracts and agreements are not drafted properly and reviewed by an attorney, you may be jeopardizing your rights. While generic contracts can be downloaded from the Internet for a nominal fee, many do not do a good job of providing the protection your business needs — and could end up costing you more in unwinding an ill-conceived contract or agreement.