The services of a lawyer can be quite useful in many business scenarios as they can help draw up a contract, assist in incorporating a business and, when necessary, represent you in a lawsuit. However, are the services of a lawyer really that necessary, or are there scenarios when you are better off navigating legal processes all on your own? Here are a few instances when you need to hire an attorney for a business matter.
When Forming a Corporation
You can take care of the formation of a business entity such as a partnership or LLC on your own without requiring legal help. The creation of a corporation with a board and shareholders is a bit more complicated and tends to require legal advice and assistance. While articles of incorporation can easily be filed without having a lawyer present, the administrative side of handling complex legal and tax requirements often tends to require the services of a business lawyer.
Filing Patents
Patents are not only time consuming but are also expensive. Having a patent approved can take years, which explains why there are so many “patent pending” labels on so many products in the marketplace. As such, unless you are in the biotech or pharmaceutical industries, it is advisable that you take the time to consider if a product you are thinking of patenting will actually benefit you. If you believe it will, then it is important that you consider consulting with a patent attorney so that they can help you gauge the patentability of your product and explain to you the rights you will achieve if the patent is granted.
Litigation
Litigation may involve dealing with lawsuits by former or current customers or employees, government investigations, environmental lawsuits, harassment or discrimination lawsuits, etc. If you have an impending lawsuit, it is advisable that you consider hiring the services of a commercial litigation attorney who will represent you in a court of law.
When selling or buying a business
Attorneys can help in the negotiation of lease agreements, sales agreements, and so forth. When considering buying, leasing or selling a business, then contemplate working with an attorney as most business or corporate lawyers have the experience and knowledge needed to ensure that a deal or agreement is legitimate and favorable to you.
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While there are situations where you may be able to handle things without needing the help of a lawyer, there are some scenarios, such as those mentioned above, where retaining the services of an attorney is in your best interest.
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