Running a business means being responsible for every aspect of it, which can quickly become overwhelming. It’s difficult to manage everything and ensure it’s all done properly. As an owner, you can reduce stress and avoid problems by understanding which areas you can confidently handle yourself and which are best left to a lawyer. Below is a list for which you should really consider consulting a lawyer:
1. Starting your business (or changing your business structure)
When you decide whether to operate as a (i) sole proprietorship, (ii) partnership, or (iii) company, a lawyer can:
(a) explain the benefits and risks of each structure;
(b) help you incorporate properly;
(c) draft a shareholder agreement or partnership agreement—especially if you plan to own or operate the business with others.
2. Agreements
When a landlord, supplier/vendor, distributor, or other party asks you to sign an agreement, a lawyer can review it, explain your obligations, risks, and liabilities, and negotiate terms that better protect you.
3. Employees & Contractors
You must comply with employment law, as mistakes can lead to disputes, claims, and financial penalties. A lawyer can:
(a) explain the law, including the differences between employees and contractors;
(b) draft and negotiate employment and contractor agreements;
(c) help you end agreements properly;
(d) draft workplace policies (e.g., harassment, privacy).
4. Disputes or Lawsuits
If a landlord, supplier/vendor, distributor, client, employee, or contractor fails to meet their obligations—or threatens or initiates legal action—a lawyer can:
(a) advise you on your rights and obligations under the agreement and the law;
(b) recommend next steps to address the issue or dispute;
(c) represent you in defending a claim, initiating a lawsuit, or negotiating a settlement.
5. Buying or Selling a Business
If you plan to buy or sell a business, a lawyer can:
(a) conduct or assist with due diligence;
(b) draft and negotiate asset or share purchase agreements.
6. Intellectual Property
If you want to protect your brand name, logo, product, invention, software, or content, a lawyer can help secure trademarks, copyrights, or patents.
7. Regulations & Compliance
Depending on your industry (e.g., food, health, finance, import/export), you may need licenses and permits and must follow specific regulations, including privacy laws. A lawyer can help you understand and meet these requirements.
You have invested significant time, money, and energy into building your business. A lawyer’s advice helps you protect both your business and your investment.
Mary Ruijs – ASE Advisor