David Bjornson explains when a business will be in need of a lawyer. How can a lawyer help your business? A business that needs a lawyer is not similar to the way they call a fireman or a plumber when they need help. This approach is reckless when it comes to legal matters. New businesses such as marketing, sales, staffing and just getting to improve the business can easily take priority over legal issues particularly ones that don’t seem to be of immediate concern. However, good business planning also includes preventing problems and making sure the business is protected against potential trouble by working with an attorney early in the process.
If you are starting a business, an attorney can help you create the rules and process to establish how your company will be managed and directed. The company’s corporate governance will be composed of governance documents that come in different forms for different types of entities. Each of these documents perform different functions.
Most of the company’s’ intangible assets need legal protection. The company name, logo, brand name and services are entitled to copyright protection. Even proprietary computer software, semiconductor chip mask designs, vessel hull designs and many other creations may be qualified for trademark registration. Trademark and copyright can help a business protect the things that give it a competitive advantage in the marketplace.
Many companies, especially technology companies, consider employee’s knowledge as one of the most important assets. But they can’t secure those assets through nondisclosure and noncompete agreements with their employees. Surely, some employees will leave the company and it is important to protect your business against these threats.
Some entrepreneurs are focused on starting a new business and don’t consider what happens if one of the main partners or major shareholders decides to suddenly exit. This can affect the ability of the business to operate regularly. If this situation occurs, you’ll need a lawyer that can handle exit strategies.
Some businesses do not want a lawyer for their business because of the cost. A good lawyer also deserves good reward. A brief consultation with a lawyer can often determine what a business’ legal needs are.