Main Challenges Faced by Business Only Lawyers Can Solve
In the day to day operations of every business organization, there are business, legal, financial, personal and other issues that crop up, often needing special and professional attention. If you happen to operate a small business or even a conglomerate, you will surely not be able to avoid these simple or complicated business issues and you will have no choice but to deal with them.
Looks like Captain Jack Sparrow completely nails it here when he said “The problem is not the problem. The problem is your attitude about the problem”. It’s not about the legal, business, and personal issues that stunt the growth of your business, but how you deal with these issues. There is no one single solution to all problems, but instead, you have to find the appropriate and specific solution for specific problems.
There are issues in business that you can’t use business solutions to get around. They need specific and appropriate solutions. One such case is with legal matters. A situation which almost always requires the knowledge and expertise of a skilled business attorney in such matters. Solving these issues with a business mindset will not get you very far. So what are these business issues? Let’s take a look at the 5 common business issues that can only be resolved by a lawyer.
One big decision in business that no professional can help you with is how to structure your business – as a sole proprietor, a Limited Liability Company, a partnership, or a Not-for-profit. The kind of choice you make will determine your setup fees, tax obligations, expenses, and personal liabilities. These issues can’t be dealt with by your accountant, manager, or marketing manager. Only an expert small business attorney from New York for example, can give you that quality, professional advice on how to go about these issues, if you are a small business operator operating out of New York.
When operating a business, there are times you will need to hire new employees, lay off some old employees, or conduct a complete restructuring of the entire human resource department. There are state and national laws governing how to hire or when to fire an employee. The only way you can acquaint yourself with such laws is to get yourself a lawyer and not any business professional.
Negotiating or drafting a contract
While running your business, the chances of you running into either short-term or long-term contracts are very high. Contracts come with their own rules. They are also governed by specific state and local laws. Getting yourself a good local attorney, such as one skilled in contract laws for example, will help make sure that dispute clauses, future lawsuits, and contract breaches are all taken care of before you sign a contract. You can’t get such an advice from any business professional.
When a government or state authority files a complaint against the operations of your business.
Problems such as deviation from a state law, state tax payment delays, and national labor law breaches are bound to happen as one operates a business organization. When these issues pop up, the only person or professional that can give you a proper helping hand is a lawyer. Apart from making sure that preventive measures are put in place to prevent businesses from disobeying any state law, lawyers will equally ensure that laws that have been breached or those that might be breached are communicated to you in a very clear language, and a proper decision taken to correct it and prevent it from happening it again.
Business sale or purchase negotiations
Whether you are selling your business or buying one, you need a lawyer to give you advice on valuing your business, contract agreements, transfer of ownership licenses and permits and more. Having access to a small business attorney professional will help you deal with issues such as negotiations, stock transfer, and business valuation.
These 5 business issues will crop up in the day to day administration of your business. They are issues that cannot be resolved by your accountant, your secretary, your human resource manager, or even yourself if you are the CEO. These issues need the right professionals – lawyers, to come into the scene and help you with advice, counseling, and negotiations.