7 Advantages of Hiring a Business Lawyer for Your Startup

Thinking about hiring a business lawyer? Wondering if you should hire a lawyer for your startup?

When you’re launching a new business, there’s a lot to think about and it can be easy to lose track of the finer details. There are plenty of mistakes that you’ll need to avoid making, and unfortunately, doing so is a lot easier said than done.

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Luckily, a great lawyer can help. Here are the 7 top advantages of hiring a business lawyer that you need to know about when forming and running a new company.

1. Find the Right Legal Structure

One of the top areas in which a lawyer can be helpful your business is during the initial setup.

When starting a business it can be difficult navigating all of the ends and outs of legal business structures and figuring out exactly how to prepare for taxes. A great business formation attorney will be familiar with legal business structures and can help you decide exactly which option is right for you.

A great lawyer can help you understand the differences between LLCs, S corporations, C corporations, and other options and will be able to help you get set up properly. This will help you ensure that you’re minimizing your tax burdens and liabilities and that your business is ready for the long-term.

2. Handle Real Estate Agreements

Another way that a lawyer can be helpful for a startup is when it checking and negotiating leases and real estate agreements that will necessary as part of business operations. If you’re renting an office space, a warehouse, or any other type of property for use by your business, a lawyer can help you look over the finer details and ensure that everything is as it should be.

A business lawyer can also help you negotiate for better lease terms and ensure that you’re getting a fair deal when you lease a property for your startup needs.

3. Create Business Contracts

Working with a law recruitment agency such as Beacon Legal can provide an experienced lawyer that can also help when it comes to managing certain business relationships, helping you to keep your startup protected at all times.

Whether it’s with business partners, customers, or employees, a business lawyer can help you draft contracts that serve your needs. They can also look over any contracts that have already been created to ensure that each of them is complete and that the language is clear.

On top of this, a lawyer can also help you understand when contracts will and won’t be necessary as well. This will help you ensure that you’re managing your business relationships carefully and giving each the proper care.

4. Protect Your Business From Lawsuits

Hiring a lawyer is also a good idea for a startup because it can help you to avoid any potential legal troubles that may occur later on down the road. There are a lot of potential legal setbacks that could derail your business and cause some serious headaches if you haven’t prepared adequately.

A business lawyer can help you ensure that you’re remaining compliant with any relevant employment laws and regulations from the very beginning. They can also help you avoid any legal issues related to sexual harassment or wrongful termination.

Additionally, in the unlikely case that your company is ever under investigation by the IRS or finds itself with a lawsuit on its hands, you’ll also want to have a lawyer by your side who can help you handle any legal proceedings.

5. Help With Intellectual Property Protection

When launching a new company, it’s also essential to protect any intellectual property that is created. Product designs or new inventions will likely need to be protected legally to ensure that your business remains competitive.

If you need to seek patents, a lawyer can help you to do this and can help ensure that your business creations are protected to the greatest extent of the law. They can also help you ensure designs such as logos, designs, and other creative works are protected as well.

A great business lawyer will understand the ins and outs of patents, copyrights, and trademarks, and can help you navigate the process of protecting your work.

6. Manage Investor Relationships

Another advantage of hiring a startup lawyer is that they can help you with startup funding.

First of all, a business lawyer can help you evaluate any investor relationships you have or are thinking about forming. They can help warn you if they think you’re giving too much power away in your company or aren’t making wise agreements.

Additionally, because business lawyers work with a diverse range of clients, they can often serve as great connectors as well. A business lawyer may have a great network of investors in place and may be able to help you get in touch with angel investors and venture capitalists who could be right for your startup.

7. Prepare For the Long-Term

One of the biggest reasons that you should hire a business lawyer is that it can help you avoid problems in the long-term. By working with a great startup lawyer, you’ll ensure that your business is well-prepared and that any problems are prevented before they occur.

Little mistakes in contracts, real estate leases, and business relationships might not hurt you immediately but later on, can end up causing significant issues. A lawyer can serve your business as an extra pair of eyes, ensuring that the legal aspects of your business are set up properly. They can help you avoid making the most common startup mistakes that could lower your chances of success.

Making the Decision to Hire a Business Lawyer

While hiring a business lawyer is not a cure-all when running a business, doing so may help your business a lot more than you may expect. By working with a lawyer, you’ll experience the many advantages above and will ensure that every aspect of your business is fine-tuned.

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