As a new business owner, there are contracts to sign and legal decisions to prepare for. Here are 6 reasons you’ll need a lawyer on retainer for business.
If you’re opening up a new business, there are plenty of moves you’ll have to make, contracts you’ll have to sign, and decisions you’ll have to be prepared for. One of these things will be having a lawyer on retainer.
Most start-up businesses don’t seem to think about the needs of a legal team, especially for everything else they offer besides business assistance.
6 Reasons You’ll Want A Lawyer On Retainer For Your Business
While at first, you may need a lawyer to help get the business off the ground, there are plenty of other reasons why you’ll want to have a lawyer on retainer for your business.
1. Contracts
Your business is going to require a variety of contracts throughout its lifetime, and having a lawyer on retainer can help ensure these contracts are handled in the best possible way.
For instance, this legal team can look over every contract that comes your way, such as any business loans you take out, to ensure you’re making a smart business decision for your company.
Any time a contract or a small business loan application comes past your desk, it’s a good idea to have your legal team look at your contracts.
Then, be sure to take their advice, as you don’t want to put your company in jeopardy by signing something that’s not good for your business.
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2. Sexual Harassment
Although you hope to create a safe and comfortable working environment for your staff, sexual harassment is a real thing that needs legal assistance should it happen to your company.
Not only should you have this legal team on retainer to help with any sexual harassment claims, but you should also talk with them to see if there are things you can do to avoid sexual harassment in the workplace.
For instance, are there certain programs you can institute or certain forms you can require employees to sign? The more you know about the situation and the more you’re prepared, the less of an impact the sexual harassment case could impact your company.
3. Injury
Even if you have an office setting, workplace injury is a real thing that could cost your company a lot of money if you’re not adequately prepared.
Having a legal team on retainer ready to help with workplace injury claims can ensure your company is handling these claims in the best possible way and not risking losing your company.
According to experts, “Personal and workplace injury attorneys for businesses can help alleviate the cost of an injury in your workplace and also help keep your company operating efficiently even after a claim.
However, handling a workplace injury in the wrong way could result in your company going under, so it’s important to understand the importance of this topic.”
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4. Real Estate
There may come a time when your company wants to expand its locations or move its location. When it comes to real estate investment, you’ll want to have a legal team on hand to help you ensure you’re making the right choice.
No matter if you plan on purchasing or renting space, a legal team can help lead you in the right direction while also thoroughly reviewing contracts for accuracy.
If you have any plans for real estate moves in the future, then having a legal team on staff is a good idea.
5. Media
There are good media and there are bad media, and your company has an equal chance of earning both. Should your company ever experience any media coverage, having a legal team on hand can help keep everything in the best possible direction?
For instance, your legal team can help you determine which situations make sense to comment on and which don’t. In addition, they can also help craft the statements you use during any specific media coverage to help protect the company.
Having these individuals on hand is a smart idea for the overall well-being of your company when it comes to the media.
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6. Everyday Workplace Needs
You’ll be amazed at the number of legal needs your business will have, and your legal team can help with these everyday workplace needs.
For instance, they can help draft up employee handbooks or create a confidentiality agreement (NDA) to keep your company protected.
They can help talk with insurance providers to maintain your company’s coverage. They can also stop in and handle any other issues that may arise.
Having a legal team on retainer is a great way to ensure your company is always prepared for whatever may be thrown its way.
After all, you worked hard to build this company, so it’s necessary for you to protect it going forward.
About the author:
Cody Jensen is CEO of Searchbloom.com, a full-service marketing agency out of Draper Utah. Cody Jensen began his career with the corporate giant, Google Inc; and has been in Search Engine Marketing for almost a decade, and has a specific acumen for paid advertising.
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