You never know when you might encounter a legal quandary when you go into business. This can leave you trying to find a lawyer in the midst of your crisis. If you took the time beforehand, you could just make one phone call. This could save you a lot of time and run around. Here are just some of the reasons that having a lawyer on retainer can be beneficial for your business.
Aid in Establishing Business Type
It can be confusing to know what type of business will provide the most tax benefit for you. Your lawyer will be able to help you decide how to structure it to gain the best advantage. They may even be able to help you to understand some of the tax loopholes that are involved with each type of business designation or direct you to a tax accountant.
Development of Partner Contracts
It can be a scary prospect to go into business alone. Having partners can help to alleviate some of the stress and risk of the situation. A lawyer would be able to draft partner contracts so that everyone feels as though their best interests are represented in the arrangement. Lawyers like Ashley West at Carter West Law can help you through this process.
Legal Protection and Advice
There are a lot of things to consider when you first go into business. You may have legal questions that you need answered before you can proceed. Having someone that you can reach out to can make all the difference. This saves you time trying to go it alone.
Help with Legal Disputes
Hiring and firing employees can pose some legal problems. Your lawyer will be able to navigate through any legal disputes that you encounter as a result of an unhappy employee. Having an attorney on retainer can expedite the process and save you from having to go to court.
Vendor Contract Review
Most businesses utilize some form of vendor for supplies or raw materials. You want to have an ironclad contract with your vendors so that you can get what you need from them. This can save you money and your customers’ business in the event that there is a breach of contract on their part.
Starting a new business can be a little tricky. You only get one chance to start off right. Having an attorney on retainer can help you to get yourself established in the most ethical and efficient manner.