The right time to get legal help for your business will vary depending on the stage of your business and the type of legal assistance you need. However, there are some general guidelines you can follow. In this article, we discuss the stages of business growth, and when it might be appropriate to consult with a lawyer.
Your Business Is Taking Off – Is It Time to Get Legal Help?
You’re making more money, you have more customers, and you’re starting to get recognition in your industry. There are a few things to consider when deciding whether or not to get legal help for your growing business.
- What kind of business do you have? If you’re a sole proprietor or LLC, you may not need as much legal help as someone who has a more complex business structure.
- What are your goals for your business? If you’re looking to expand, you may need legal help to protect your business as it grows.
- Do you have the time and resources to handle everything yourself? If you’re feeling overwhelmed by the legal aspects of your business, it may be time to get help. If you’re not yet registered as an LLC, hiring a LLC service could be a great place to start.
What Kind of Legal Help Do You Need for Your Online Business?
In order to answer this question, you need to first take a step back and assess what kind of business you have.
- Are you selling products?
- Are you providing services?
- Do you have a membership site?
- Do you need e-commerce specific legal advice?
How Can You Find the Right Lawyer for Your Business Needs?
Ask your business friends or colleagues if they have any recommendations. You can also search online for business lawyers in your area.
Once you have a few options, schedule consultations with each lawyer to see if they’re a good fit for your business. Be sure to ask about their experience handling cases like yours. Ask about their fees and how they typically structure payment arrangements. Be sure to get this information in writing so you can review it later.
What Should You Expect from Your Lawyer?
Once you’ve decided to hire a lawyer, you might be wondering what exactly they’ll do for you. Your lawyer can help you:
- Get business licenses and permits
- Sort out intellectual property issues
- Handle business litigation
- Provide legal advice and solutions for your legal conundrums
- Review and draft contracts
- Negotiate business deals
- Provide advice on business structure and employment law
Your lawyer’s assistance will depend on the legal needs of your company. But in general, a business lawyer can be a valuable asset to any business owner, providing peace of mind and practical legal assistance.
How Much Should You Prepare to Pay for Legal Services?
What you pay will depend on the type of business you have, how complex your business is, and what stage your business is in.
Startups have different legal needs than established companies, and online businesses have different legal needs than brick-and-mortar businesses.
Of course, the cost of legal services can vary widely depending on the lawyer you hire and the scope of work involved. So, it’s always a good idea to get a few quotes before making a decision. And don’t be afraid to negotiate! Many lawyers are willing to work with startups on a fixed-fee basis or at a reduced rate.