What kind of Lawyer do you need for your small business?

Having a lawyer is an essential part of starting your small business. However it can be very complex and confusing depending on which lawyer to hire, there are a lot of areas of law that may need to be covered with the running of your business. You may believe you only need a lawyer if a case is brought forward to court, but this is a common misconception, there is a lot more to having a lawyer than just winning a case. Lawyers will help set up and advise on various aspects of your company, like drafting up contracts and settling out of court disputes for example. Picking the correct Law firm is essential to make sure you find the perfect business lawyer with the right experience and reputation you need.

Lawyers within the same law firm will have different areas of expertise, as listed below; however you can hire a lawyer that covers a few of these in one, most commonly known as a ‘General Business Lawyer’. If a specific situation arises where you need someone who is experienced in an area of law the general business lawyer isn't, the firm you are with will be able to advise you on who to hire to get the solution solved as soon as possible.

Different Types of Business Lawyer

Below are common types of business lawyer that your company may need;

ContractsCommercial LawLitigation (Dispute resolution)Intellectual PropertyCommercial PropertyLendingFinanceCorporate LawData ProtectionEmployment Law

 

Listed below in detail are some of the more commonly hired Lawyers by businesses;

General Business

This lawyer covers a lot of areas of business law, which in turn will save you time and money. They have experience in common business disputes and enquiries, meaning if you have a special situation that is out of the norm you may need to hire a lawyer that secialises in that situation. When asking the firm about the General Business Lawyer, if you list certain situations you feel may happen within the running of your business, they will advise you on whether the General Business Lawyer can help, or if you need to hire a specialist Lawyer.

Contract

Hiring a lawyer to draft up and go over contracts is an important thing to do. As tempting as it is to draft your own contract or even find a template online, this can lead to problems further down the line. Some templates do not have all the right requirements that your business contract needs, a professional contract lawyer will make sure the contract has all the elements it requires for you and your employees/ shareholders. Unwanted provisions and breaches through loopholes are things that could be avoided if your contract has been drafted and approved by a Lawyer. The cost of the lawyer will be less than paying for what happens if a breach or unwanted provisions occur, because of the templated contract.

Tax

All the different taxes that are involved within business can be complex and a bit overwhelming. Having a Tax Lawyer will help to go through these taxes and make sure your business is paying the correct ones. If your business gets audited because you aren’t paying a specific tax, a tax lawyer will be able to help you through this case as well. However prevention is better than cure, hiring a tax lawyer before this will ensure you are paying everything correctly and on time, so there is no possibility of getting audited. If a Tax lawsuit is brought forward, the costs/ fines can be astronomical, so make sure the lawyer you hire has all the experience you need as well as a well regarded reputation (tax fraud will be looked at closely, so a respectful reputation is key when hiring).

Intellectual Property

When starting up your business your property will more than likely have patents and or trademarks. Having an intellectual property lawyer will make sure your business has the appropriate copyright laws to protect your trademarks, patents and brand recognitions. They will also ensure you're not breaking any copyright laws with other businesses' trademarks. These copyright laws can be some of the highest payouts, so making sure intellectual property laws are being followed by you and other businesses against you is essential.

Get help with your decision

Making sure you pick the appropriate firm/ lawyer as a small business, will only set you up for success to ensure your business thrives and grow. You can take a free consultation of some organization that will help you get the right law firm for you. There is a lot to look for and because of all the different areas of law; it can be complex and confusing. A General business lawyer is the best lawyer to hire for your day to day law needs. If a specific situation arises where you need someone who practices in an unexpected area of law you need covering, then those organization will be able to find you the lawyer you need to get the situation solved as quickly as possible.