As a business person, you know the importance of saving money where you can and hiring a lawyer isn’t cheap, especially full time. In fact, the average business attorney in America makes around eighty thousand dollars a year.
But if your business has a lot of tax requirements and finance deals or you deal with clients and customers who could potentially sue you, then hiring your own private business attorney could save you a lot more money in the long term.
Hiring the right attorney to be familiar with your business proceedings can go a long way in the event of a lawsuit. Learn more here.
1. Hire a Business Attorney for Commercial Litigation
As a business, there are many reasons you might need a commercial litigation attorney. You could have problems with breaches of contract, disputes with your partners, fact class action lawsuits, or have disputes with your shareholders.
Having the right person on your team when facing those kinds of challenges will be key to keeping your business goals on track and your profits on the rise.
2. To Handle Your Licensing
If you have a business that has proprietary technology or information, then you need to protect it under the law. The last thing you want is for a competitor to come in and mimic one of your products before you have the chance to patent it.
Then you could get caught up in a drawn-out legal battle where you have to prove you created it first. By having a lawyer on staff, you can always file patents immediately and protect your creations.
3. To Monitor Employee Liability Concerns
Just like playgrounds at schools are sometimes blamed for children’s injuries, you too can be sued if someone gets hurt in the environment you create.
The question of liability can get complicated depending on the circumstances surrounding an accident. A lawyer can help you understand your liability and navigate any claims you face.
4. To Handle Your Contracts
When you run a business, you will likely deal with a lot of different contracts. There will be the employment contracts you have with your employees, the sales contracts you have with your customers, and the business contracts you have in place with your vendors.
To ensure you are getting the best deal and won’t fall victim to the fine print, you can hire your own attorney to look over all of these contracts before you sign them. They will be able to spot issues quickly and identify unfair terms.
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The points in this article demonstrate why it may be time for you to hire a business attorney for your company. Having the right person on staff can help you protect your intellectual property and protect yourself in the event someone is injured on your property.
For more great articles for professionals, check out our other business blog posts today.