If you run an enterprise of any type, you will almost certainly need the services of a business lawyer at some point. You should strive to have an excellent relationship with your counsel. If you do these four things, you'll be in the running to become their favorite client.
Make and Keep Copies
Good documentation is essential throughout the legal profession, and most businesses are built on things like titles, corporate charters, contracts, invoices, and receipts. Every bit of paperwork that goes through your organization should also go through your photocopier. Digital copies backed up to the cloud won't hurt, either. A business lawyer loves to know that a client will always have copies ready to go for meetings.
Choose a Structure
Businesses work best when they have clearly and legally constituted structures. Even if you're running a one-person operation, talk to a business lawyer about setting up a proper company. You might only run it as an LLC, and you'll probably be its sole officer. However, the choice of that structure could protect your personal finances from liabilities extending from business activities. Similarly, your finances will be insulated against any bankruptcy proceedings involving the business.
There are also frequently tax benefits aimed at incorporated entities. You should speak with a business lawyer to learn what structure might yield better tax rates, rebates, and deductions.
Read the Newsletter, Emails, Blog, and Social Media Feeds
Most law firms use modern media tools to keep clients in the loop about larger developments. For example, your attorney might send a monthly newsletter to clients. Typically, they will discuss important topics, such as coming changes to business and tax laws. Similarly, the firm will probably post updates about changes in its partnership structure, hours, and location. Your odds of being caught off guard by developments will be lower if you take some time at least once a week to browse through the various media and see what's happening.
Use Your Lawyer as a Shield
Your business lawyer is there to protect your rights and interests. Use them as a shield. If you have a customer who is pressuring you to quickly sign a contract, for example, tell them you'll need to discuss the terms with counsel. Not only is it prudent to always discuss your organization's legal exposure with counsel, but taking the time to breathe and think about an issue may clarify what you want to do about it.
For more information, contact a business lawyer near you.
Share29 July 2022
Many people assume that when they file Chapter 7 bankruptcy, they will have to give up their homes and other property. This is not necessarily the case. I am a bankruptcy attorney, and I have helped many clients file for Chapter 7 bankruptcy without giving up homes, cars, and other property. When you file for bankruptcy, the property you are allowed to keep depends on your individual circumstances and the state where you live. Most states allow exemption for property you are currently paying for. This blog will guide you through that information and help you determine if filing Chapter 7 bankruptcy is the right choice for you.
