Hire Business Attorney – Every business, whether big or small, need lawyers to take care of the legal requirements, so that the business can be run smoothly. From the setting up of the business and its incorporation to performing routine legal work to addressing specific legal issues, professional legal advice is always required. A lawyer provides vital assistance in every aspect of business, and can be a real asset to an organization.
Lawyer for business startup – While setting up business in India you plan for the best and hope that everything would go according to plan and that you will be able to run the business smoothly. However, in practice, this is not the case. There are bound to be situations where you would need expert legal advice to cope with specific legal issues that may arise from time to time.
Business in India is governed by many laws, and organizations have to adhere to all the rules and regulations. Though lawyers don’t come cheap, it is advisable that businesses hire good lawyers for their own interest. Generally, small businesses are reluctant to hire lawyers at the beginning as they don’t want to spend too much money on them. However, a lawyer can help you avoid any future issues that can land you in serious legal trouble and you might end up spending huge amount of money to get out of the situation. Also, such issues have the potential to severely disrupt your business operations which can ultimately result in significant financial losses.
In this article, we will try to stress upon some reasons why you need to hire business attorney for your business.
Incorporation
Every business needs to be registered before you can start your commercial operations. You have to complete various legal formalities to get your business incorporated. You have to submit an application to the concerned Registrar of Companies on a prescribed form along with the requisite fees. The memorandum and articles of associations have to be drafted and signed. There are various other formalities to be completed and different documents to be submitted to authenticate your application. As a business owner, you are unlikely to be aware of the legalities involved, but a lawyer would certainly know what to do and how to go about it. So it is important that you hire the services of a lawyer for incorporating your business.
Drafting Contracts
Agreements and contracts are integral to every business. In the normal course of business you will need to negotiate agreements and contracts with various stakeholders, such as employees, customers, vendors and suppliers, and different government agencies. Contract is a legal document, the contents of which are legally enforceable. Lawyers, who are well aware of the intricacies of the law, can help you draft contracts that are fool proof, so that the opposing party does not get any opportunity to exploit any possible loophole to their advantage. If you try to draft the contracts yourself, there is every possibility that you will commit some mistakes and omit some important clause that can potentially harm you in the future.
Protection against Lawsuits
Setting up business in India can potentially invite a lot of lawsuits against you. Avoiding or preventing a lawsuit is more desirable that fighting and defending yourself against one. There are lot of complexities involved in running a business, and it is very likely that some disputes may arise in the course of the business which may result in lawsuit being filed against you. A lawyer who represents you will be able to at least reduce the charges if not completely absolve you from the same. It is, however, beneficial if you are proactive, and hire a lawyer in the beginning so that such situations could be avoided. Hiring a lawyer at the start can prevent such lawsuits from occurring and save you from lot financial burden.
Mitigate Damages
In the event of a lawsuit being filed against you, your business attorney can help you reduce the damages. For instance, if an employee or a customer files a personal injury case against you, the lawyer can help mitigate the damage by settling the case at much lower cost than what initially might have been demanded by the plaintiff. However, you need to be honest with your lawyer if you want to get the best possible outcome. Even if the employee was hurt because of your fault, you must confess it to your lawyer before he/she gets to know the truth from the opposing party.
Compliance
Small business attorney – There are various central and state laws that govern a business. While the central laws are applicable to businesses across the country, different states have the own laws that apply to businesses having operations in that particular state. Adhering to the laws and meeting all regulatory compliance is a cumbersome job, and it is not practically possible for the business owner to accomplish the task without compromising on the business operations. A lawyer, who is well versed with laws, can help you meet all the regulatory compliance.
Filing for Patent
An invention, whether product or service, is not entirely yours own until you have patented it. It is therefore vital that you get your inventions patented on time to prevent others from using it for their own commercial benefit. Getting patent approval is a long-drawn process, and it is difficult to get the approval in a time bound manner. You will have to take the help of an experienced patent attorney to get the job done on time.
Employee Related Issues
Employee-related issues regularly crop up at the workplace, which can put you at risk of facing lawsuits and financial burdens. Since an attorney is involved in the hiring process and drafting of employee compensation contracts, he/she can help you quickly suppress and diminish such issues. If you wish to remove an employee, a lawyer can help you do that amicably within the legal framework.
As is clear from the above discourse, you must hire an attorney for your business if you want to run it smoothly without many glitches.
