In any business, there’s a lot that could go wrong. While owners may take certain precautions and measures to ensure anything that goes wrong can be handled internally, there’s no guarantee that other party or parties involved won’t cause a need for an attorney to get involved, or that the situation won’t warrant legal counsel. Whether investments were made in cryptocurrency and there are questions about what to do in the wake of the quake, are facing an unlawful termination dispute, want to ensure that an ICO is fully legal before launching so it can get good reviews on an ICO rating site, need to take action against a vendor who broke their contract, or any other situation with legal consequences, there may be a need to bring on an attorney.
Attorneys like Aaron Kelly often specialize in different areas of law, requiring research to find a local attorney to represent or consult on a specific case. To determine whether or not the situation requires an attorney in the first place, here are six situations in which businesses should seek legal counsel:
1. Facing a Lawsuit
Whether suing another party or are being sued, it’s never a good idea to self-represent unless the issue is simple and straightforward, (like a divorce or in small claims court); however, even then it’s a good idea to consult an attorney. Since the company won’t be dealing with a personal divorce or likely a small claims issue, it’s important to seek legal counsel and representation when a lawsuit is first brought, or there is a need to take legal action against someone else.
2. Need For a Binding Contract
There are templates and guides all over the Internet that explain how to draft a contract for vendors, employees, and suppliers to sign. This could end up with loopholes and discrepancies that leave the business in a tight spot if the contract is not totally legal and binding. Whether it’s a contract drafted for employees, for a vendor, for a partner, or for any other reason, you’ll want to bring on an attorney to ensure that all all the t’s are crossed and i’s are dotted and every party involved upholds their end of the deal.
3. Want to File for a Patent
If a new product or process needs to be protected with a patent, a patent attorney will be needed. While it is easy to do a simple patent search, patent attorneys have resources available to do a better, more in-depth search to ensure there is no infringement on one that exists. They can also help get the process going faster and streamline it so that it’s completed as quickly as possible.
4. Compliance with Federal and State Regulations
Every business must comply with certain federal and state laws and regulations, but certain businesses will be subject to different and stringent rules that must be followed. Food manufacturers, for example, must comply with all health codes and pass regular inspections to keep their licensing and stay open. Pharmaceutical companies must not only comply with regulations set for products that will be consumed but must meet regulations and guidelines set forth by regulatory bodies like the FDA.
With all of the regulations, rules, and standards that must be met, it can be hard to keep everything straight or even know about all of the requirements in the first place. That’s when legal counsel helps to get everything in compliance and up to code so there are no issues later on that could cause the business to be shut down.
5. Need Help Handling Employees
Employees and contractors require special handling, due to existing laws. There is a need to cover all of the bases when bringing on a contractor or a non-standard employee. There are also special considerations for an employee who has broken the law or violated their agreement. Outside counsel is almost always needed on a case that an employee or former employee has brought against the business or the owner or other employees. In each of those kinds of situations, it’s easy to misstep and cause more trouble. An attorney can counsel and provide guidance on the best way to draft a contract, discipline or let go of an employee, or counter an allegation brought against the business.
6. Looking to Sell A Business or Acquire Another
Whether planning to retire, no longer able to run the business, wanting to move onto something else, or to take on another business to help grow, legal advice may be needed. When looking to sell a business or acquire someone else’s, a lawyer will be needed. Certain protocols must be followed and things must be done to ensure that everything goes through as it should. Without proper representation, further issues may arise.