About 60 percent of small businesses have faced a legal issue in the past two years. Common issues include employee theft, product liability, contract breaches, internet security breaches, and tax audits.
Yet, a vast majority of these small businesses don’t get legal help. They resolve to handle the issues on their own, believing hiring a lawyer isn’t necessary.
That’s not true. There are many ways business litigation attorneys can help your organization. If you’re in doubt, keep reading for a list of benefits of hiring business lawyers.
Prevent Small Legal Matters from Morphing into Court Cases
Even if you do everything by the book, it’s impossible to completely prevent legal issues when you’re running a business.
There are many legal risks any business faces, some of which can only be mitigated, not prevented. If you run a brick-and-mortar clothing store, for example, you can only do so much to prevent premises liability. A customer can still slip and get injured in your store.
While there are legal issues you can’t avoid, you can prevent them from becoming blown-out lawsuits. A business litigation lawyer can find ways to settle the matter quickly and amicably, saving you’re a lot of money in litigation expenses and protecting the reputation of your business.
Minimize Your Legal Risks
If you don’t take steps to minimize the legal risks your business faces, don’t be surprised to find yourself spending more time in courtrooms than in your board room.
However, most small business owners don’t have the expertise to reduce their exposure to legal risks. This is where a small business lawyer comes in handy. They will review your business’s policies, operations, and everything in between, find areas of legal liability, and advise you on practical steps you can take to minimize the liability.
Due Diligence Investigations
In business, you’ll enter into transactions or contractual agreements from time to time. Depending on the nature of the transactions, you can find yourself at a disadvantage if you aren’t careful.
If you’re buying commercial property, for instance, it’s your responsibility to ensure it’s clean. Do you know how to do property due diligence, though?
This is right in the wheelhouse of a business attorney. They know how to find out if the property’s title checks out, or whether there are any civil judgments or judgment liens attached to the property. Read about a civil judgement for further insight.
A lawyer for business can also help you negotiate real estate leases, purchases, and other agreements, ensuring sellers don’t take advantage of your lack of legal know-how.
Don’t Wait Until It’s Too Late to Hire Business Litigation Attorneys
Business litigation attorneys play many roles in the day-to-day operations of businesses. It’s understandable that you might not always have the budget to pay for professional legal services, but the benefits are worth the cost.
Explore our blog for more helpful advice for business owners.