Legal support is important for businesses. Not sure when to ask for help? The answer is when you need it, but here’s a note on some of the key times businesses should use a lawyer and how your lawyer can help.
1. Starting up
There’s a lot to think about when starting a business. Here’s a few points to talk to your lawyer about:
- structuring and if incorporating a company, its key governance documents such as the constitution and shareholders agreement
- drafting contracts, for example a service agreement if your business will provide services
- protecting the intellectual property of the business, such as applying for a trademark registration
2. Growth stages
Experiencing growing pains? Growth can introduce a range of complex issues to your company. Whether your business is expanding into new markets or looking at an acquisition, a lawyer can help you identify and manage the risks with your chosen course through due diligence, drafting of contracts and input into governance processes and policies.
3. Key contracts
Contracts and agreements are an essential part of any business transaction. If your company is trading without clearly agreed contracts in place, there will be terms and conditions that apply to that trade (of goods or services for a price) – but are you sure what they are? A lawyer can help ensure that your contracts and agreements are legally binding and protect the business’ interests while also being fair and equitable to all parties involved.
The best time to deal with a dispute is before the relationship with a customer or supplier becomes irreparably damaged. A lawyer can help you understand your company’s rights and obligations and find a way forward.
If you have received a letter of demand, don’t ignore it. Get advice today.
Thank you for reading an Abledale Tale. As the name suggests, this isn’t advice, it’s just a story. Whether you are looking to incorporate or your company is established, please get in touch to discuss how we may be able to assist you.