When Does Your Business Need a Law Firm?
Forming and operating a business is a challenge. It’s a unique endeavor that only specifically-trained and motivated individuals undertake. But no matter the amount of experience or drive a business owner may have, there are legal challenges that come with pursuing the dream of being an entrepreneur. To that end, you’ll want to hire an experienced law firm – one with expertise focused around commercial and business lawn. A law firm with a reputation for excellence in complex business litigation.
Legal Issues You Can Handle Yourself
Sure, there are many legalities surrounding owning and operating a business that requires an experienced attorney, but some matters are relatively straightforward. Instead of hiring an attorney, you can handle the following tasks yourself:
- Writing up a business plan.
- Researching and choosing a name for your company (you can research previously trademarked business names online).
- Registering and reserving a domain name for your business website.
- Applying for an employer identification number, which is used for employment tax purposes.
- Applying for the requisite business licenses and permits required by the county or state.
- Interviewing and hiring employees while considering all federal and state anti-discrimination laws and regulations.
- Handling audits initiated by the Internal Revenue Service.
Instances in Which Hiring an Attorney Makes Sense
If you can run a successful business, you can properly fill out a form sent by the IRS or hire the appropriate employees for the position. But there are issues every business faces that are too complex or overwhelming to handle. In such cases, hiring an experienced attorney is not only suggested, but it’s almost a requirement.
These cases include:
- A former, current, or potential employee suing because of discrimination during the hiring or firing process or because of a hostile work environment.
- Any local, state, or federal government organizations filing a complaint or investigation into your business for violating a law.
- When you need to make a unique allocation of profits and losses or to contribute appreciated property to the partnership or an LLC agreement.
- An environmental issue arises because of the actions of your business.
- The sales negotiation of your business or the acquisition of another company arises.
Why Hire a Business Attorney
Besides the instances mentioned above in which an experienced business attorney would be invaluable, there are a number of fantastic reasons to choose a business attorney early on.
First and foremost, retaining an attorney is all about prevention. Prevention does not have to involve hiring an expert attorney, though regularly consulting with one can certainly help. Essentially, by the time your business is being sued, the damage is done. But if you have an attorney on retainer, the issue can be mitigated early and damages can be minimized.
Find the best commercial and business attorney in DFW to ensure you come out on top of any situation.