Over 15 million lawsuits are filed annually in the United States, and America is home to 80 percent of the world’s lawyers. Civil litigation is common within any kind of business, no matter how great or small or where the business is located in the world.
In the United Kingdom, over 5.7 small businesses are registered, and 70 percent of those are facing significant legal bills. If you are asking yourself, “What kind of lawyer do I need for your small business, read on to find out how.”
What Kind of Lawyer Do I Need for Small Business?
If you are running any kind of business, chances are that you will need legal representation at one point in your business’s life. No matter how big or small, legal challenges are likely to come up.
To determine what kind of lawyer your business needs, you need to first look at what your business needs to begin with. To start up your business, you can handle a lot of the initial paperwork such as your business license, registration, and any partnership paperwork.
Check out this sample Limited Liability Partnership agreement and see if it’s something that will meet your needs.
Generally speaking, the more complex your business is, the more likely you are going to need a business lawyer. That could be a tax lawyer, corporate lawyer, hedge fund lawyer, or even just a small business lawyer that can do a lot of your filing for you.
You don’t need to spend a fortune on a lawyer when starting your business. But if you aren’t sure where to start with paperwork and legal matters, hiring someone to do that now could save you millions down the road.
As some companies have learned, the cost of commercial litigation can be high.
What Business Lawyers Do For You
Any time money changes hands in America today, you open yourself up to the possibility of a lawsuit. If you have a brick and mortar store, with an icy sidewalk, you have a potential liability on your hands.
So business lawyers help you to navigate these little challenges in the corporate world and try and prevent them from becoming big expensive ones.
Business lawyers at their most basic can help you to navigate the world of forms, licenses, and registries when you first start your business. They can help you to start up your business properly.
Other things a business lawyer may do is trademarking your business, helping you to understand copyright laws, assisting in lease applications and documentation, and more.
And of course, a civil litigation attorney can help you in the event you ever face a civil lawsuit, whether you are filing the lawsuit or responding to one.
Can You Handle Some Legal Work On Your Own?
Some forms are available online to help you get started. But in the legal world, there is a new problem every day that a template online cannot help you out with.
When in doubt, get a consultation with a small business attorney who can take a lot of this stress off your plate.
Do you need one? Only you know that answer.
There is a small price to pay for peace of mind in a world where civil litigation costs a country hundreds of millions of dollars a year.
Retain an Expert Today
A Duke Law School conference in 2010 found that litigation costs for small businesses cost Americans $115 million in 2008, which was up 73 percent since 2000. Those litigation costs are rising annually and will be even higher for small businesses that don’t have their legal needs managed appropriately.
Before you ask yourself “What kind of lawyer do I need” for your small business, assess your business needs first. Use our Sample Business Planning template to get a legal head start on where your business is going, so you can retain the right counsel that will meet all of your business needs.