If you truly value your business, you need to seek legal advice. From start to finish, a business needs lawyers. There are several instances where you’ll need them. Whether it’s setting up the business itself or winding it down and selling off the assets. Of course, there’s that part in the middle where you’re actually operating as a business. Ignoring the legal profession during that stage can be harmful. Here’s why you’ll need them.
Patents & Trademarks
A business should always be changing. That means new products and services. New business sectors and sub-divisions too. These all are going to need some legal help to get things moving.
Say you’re a company that makes fizzy drinks. You’ve got a new product and it tastes great. The marketing department have cooked up a great campaign, and the brand name is really clever and exciting. Where do you need a lawyer here?
First of all, you need to protect the recipe. It counts as intellectual property, and so can be protected against copycat brands. You then need to check the advertising campaign for compliance with broadcasting and advertising laws. Finally, there’s the issue of trademark and copyright over the name of the product. Every stage of production is supported by lawyers.
Employee contracts are a bond. They lock in what the employee is going to do for you, and what you are going to do for them. That said, they need to be legally binding so action can be taken when either side breaks part of the agreement.
You’ll need employment lawyers to draw up the contract to specifications and check it for compliance with the law.
All businesses have to meet certain standards. These can be for any part of the business. These standards are usually set by regulatory bodies and Governments. There are legal standards as well as quality standards, and sometimes to two will intertwine.
You wouldn’t run a kitchen and not adhere to hygiene standards. Likewise, you wouldn’t run a factor without adhering to safety standards. Ergo, you wouldn’t run a business without meeting legal standards, and these legal standards are just as applicable in the previous examples. By law, you could be required to meet a minimum standard of hygiene, the same with meeting safety laws.
How can you know if you’re complying with the law or not without lawyers?
Defending The Business
In the unfortunate case a legal proceeding is brought against the business, you need representation. Defending yourself legally is not an option. No matter the size of your business you’ll need a professional.
While some amount of legal understanding needs to happen in your position as a business owner, never leave it up to yourself to do all the legal work. Either hire a firm or possibly build a team of in-house lawyers. Either option is a viable route to take.
Lawyers can provide so much for your business. Not only can they protect it, but they can enhance it. Don’t ignore them. If you do, it’s at your own cost.