When Does My Business Need an Attorney?

Can you afford not to hire an attorney?

Hiring an attorney is like buying an insurance policy. What type and how much to spend, should be balanced against the risk of making a mistake. A good rule of thumb is that (1) getting help early can save time, trouble and money and (2) the more money that is at stake and the higher the risk, the more certain you want to be about what you are doing.

A good lawyer can not only help you prevent problems from happening, but help you reach a good outcome even when they do.

Here are a few of the scenarios where even the smallest business should consider hiring an attorney:

  • buying or selling a business
  • creating standardized forms such as purchase orders, contracts, and non- disclosure agreements
  • negotiating leases of land or equipment
  • negotiating contracts
  • seeking new investors
  • opening offices or seeking to do business in other states or countries
  • planning for retirement, disability or death

A good attorney will help you develop a plan to accomplish your goals in a safe and cost-effective way. For ways to reduce attorney fees, see Reducing Your Attorney’s Fees.