Business Legal Analysis
Starting a Business with a Strong Legal Foundation
Establishing a business with a robust legal foundation will help protect an owner’s personal and business assets while also reducing legal issues and liabilities in the future. Working with an experienced business attorney will help a business owner and related parties understand the type of business entity and corporate structure that will work best. The attorneys at McClanahan Powers will assist in filing the necessary documents and draft appropriate contracts and other legal documents tailored to the company to maximize its interests and protection. In addition, our business attorneys will help you understand what legal issues may be problematic for your prospective business. Our attorneys can also determine what actions you can take to reduce or eliminate these issues—saving your business, time, money, and expense and allowing it to grow and prosper.
Developing and Growing an Established Businesses: Effectiveness of a Business Legal Analysis
A Business Legal Analysis for an established business allows our attorneys to delve into your business practices and understand how your company operates. Our experienced business law attorneys will assess a specific legal matter or any legal liabilities your business may be exposed to and work with you to correct current problems and liabilities while limiting or preventing future ones. We provide long-term retainer options for our clients, allowing them to call and ask an experienced attorney their legal question instead of haphazardly hoping for the best. In addition, we will look at your business procedures, existing contracts, business structure, and business materials to ensure that they have the appropriate legal language and maintain best practices to protect your business.
The Common Danger and Pitfall of Delay in Finding a Business Attorney to Assist your Business
Many businesses that our attorneys assist are established or beginning to operate. Typically, these clients come to us for the first time when a legal problem already exists, dramatically increasing the time and cost to repair the damage done. They have received a Letter of Demand, have been served with a lawsuit, or know that legal action is imminent. This problem may have been avoided in many cases if specific procedures had been followed or particular action had been taken earlier. Whether that could have been having a contract in place, putting particular legal language in a contract, or following legal guidelines they may not have even known existed. Unfortunately, many business owners wish to avoid legal fees and costs to save money and choose to handle it themselves.
It is not uncommon for a business owner who has a legal problem or question to attempt to “fix” or “solve” it themselves by doing a basic internet search to see if they can find the answer. Or, even worse, the business owner “hopes” that the issue will resolve itself.
In some situations, a business owner may retain a “Do It Yourself” legal document provider who will provide the business owner with a blanket legal document for a fixed fee. Frequently, this document doesn’t offer the protection it should, misses a critical piece, or is not even applicable to the situation. Consequently, the business owner is under a false impression that they and the company are fully protected when they are exposed to liability and may have an unenforceable contract.
The reality is that the legal issues are often far more complex than they appear, requiring a comprehensive understanding of the law. The best way to save your business money on legal fees and costs down the road is to work with a knowledgeable attorney before there becomes a bigger problem. As a wise man once said, “An ounce of prevention is worth a pound of cure!”