- Lawyers are needed from the moment the company is incorporated until its closure.
- An attorney will provide you with pre-incorporation advice on the best form of business to incorporate and will also advise you on compliance and other regulatory issues.
- An attorney will also help you draft your foundational documents on which all other aspects of your business will be tied.
I was invited as a speaker at a conference on the importance of legal services for a business. From the event, I discovered that not many companies appreciate the importance of legal services and often end up acquiring the services when it is too late.
I noticed that this was probably caused by a lack of exposure or awareness. Many people feel that legal services are necessary only when one goes to court. However, this is not the case, as I will demonstrate in this article. Legal services are probably one of the most essential services your business needs for its continuity.
Lawyers are needed from the moment the company is incorporated until its closure.
I have discussed the importance of lawyers for small businesses. An attorney will provide you with pre-incorporation advice on the best form of business to incorporate and will also advise you on compliance and other regulatory issues.
An attorney will also help you draft your foundational documents on which all other aspects of your business will be tied.
For example, they will help you draft deeds and memoranda of association, which are the constitutional documents of the company. If you get it wrong at this stage, the business will start on a shaky footing.
An attorney can also help you write policies and procedures for your business.
The importance of hiring an attorney to help you with this or at least review the processes is to make sure you have legally sound documentation.
An attorney can help you assess whether your human resources policy, for example, is legally sound.
Certain procedures are supposed to be part of an employer’s human resource policy, such as the disciplinary process.
You need legal services when entering into contracts.
An attorney helps you determine the legality of the contracts you are entering into. With an ever-changing legal environment, it is important to have an expert advise you on contractual matters for your business.
The attorney will help you get the best deal from the contract.
An attorney will help you with compliance issues. Some aspects of your business may be regulated and the lawyer will be able to advise on this. This has the added benefit of a better relationship with stakeholders.
An attorney is important in reducing the overall risk to your business.
There are some costly mistakes your business could make without sound legal advice.
An attorney is a key resource when entering negotiations, as they are trained to negotiate the best deal for you. Therefore, they are important when it comes to dispute prevention, conflict management, and dispute resolution.
One challenge many companies face is how to access legal services. Many people complain that hiring a lawyer is too expensive.
In this article, I’ll show you innovative ways to access legal services without breaking the bank. Traditional methods of accessing legal services include hiring an outside attorney or hiring an internal advocate, both of which are costly.
One way to avoid the high costs of legal services is to appoint an attorney to your board to offer legal advice on the strategic aspects of your business. In this way, your company will access legal advice at a more affordable cost.
A second way is to purchase or sign up for legal software that allows you to access legal services without having to hire an attorney.
This works well in developed countries, where some have artificial intelligence software that offers legal advice on simple matters.