HE SAYS:

I am sure most people consider lawyers a necessary evil, at best; however, there can be no doubt that, at times, a good lawyer is indispensable.   Since I practiced law for over thirty years, you might think that I am biased in this opinion; however, if you want to be successful, I strongly recommend that you develop a good relationship with a lawyer who can become an integral part of your business team.    Here are some valid reasons  for small business owners to seek the services of a good lawyer.

Before starting any business, it makes sense to meet with your lawyer to discuss the various forms in which you may operate your business as well as the legal and tax ramifications of each business structure.

When operating any business, there will be many occasions when it will become necessary to enter into important contracts and agreements.   In today’s complicated business world, any such legal documents can be rife with pitfalls that can be devastating to your business if you are not careful.   In this regard, there is no substitute for the help and guidance your lawyer can provide you.

The life blood of any business is its cash flow.   The ability to collect accounts receivables is essential to the success of your business.   If your in-house collection efforts fail, you may find that the services of a lawyer is one way to pry that money loose.

Labor and workplace issues such as wrongful termination, sexual harassment, and employee safety can cripple a small business with even a few employees.   This is another area where the advice and counsel of your lawyer can prevent these issues from ever becoming a problem.

You operate your business to make a living and for your family’s future; however, it is not always easy to keep that hard earned money.   The advice of a lawyer can be a great resource to help you plan and implement effective estate and retirement strategies that make sure you and your family hang on to as much of this money as possible.

After you spend years building your business, you may want that business to continue after you retire.   Again, sound legal advice can help you plan for a successful transition of your business to your children or maximize your profits upon a sale to a third party.

Even in the unfortunate circumstances of your business going under, a lawyer will be essential to help you successfully navigate through the complicated Bankruptcy Laws and plan for the orderly liquidation of the business.

From time to time, we will provide blog entries on general business and legal topics that I believe will be of interest to small business owners.   These blog entries will not be intended to be a substitute for the advice of your own lawyers, accountants, and financial planners.

WHAT DO YOU SAY?