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Even if you do not anticipate getting into legal trouble with your business, hiring an attorney to command a place on your team is an important step to starting and operating any business. Legal issues in the business context often occur without notice and having general counsel available on call can aid the business owner in alleviating unnecessary stress if a legal issue presents itself to the business.

Contracts

No matter what kind of business you are operating, contracts or other written agreements will likely play a significant part in the business. Managing sales and employees as well as leases are pivotal aspects of managing your business. Having a lawyer on your team can help you draft airtight contracts that avoid the possibility of future legal issues and save your business unnecessary legal fees. The expertise of general counsel on staff to your business can reduce unnecessary risk associated with amateurly-crafted contracts and allow you to address problems as they arise.

Legal Assistance

Should your business get into legal trouble, having a lawyer on your side will make the process smooth and simple. Anyone running a business should be aware of the fact that it is imperative to be diligent in both the running of your business as well as the potential pitfalls that arise with running a business, such as issues with employees and contract disputes. The ability to address these issues as they arise (because you have general counsel on call) should permit you to save some expense because the problem will hopefully be addressed in its infancy. In the case of a lawsuit or anything else that requires negotiation or a hearing, having a lawyer on-hand who knows you and your business will save time and money and better promote your financial security and allow your business to prosper.

Intellectual Property

Trademarks are important in the realm of business; from company names to product titles, copyright can limit your options. A lawyer on your team can be saddled with the task of researching available names for your business and its products. Taking the time to conduct this research will limit the risk of copyright infringement and other legal issues. A lawyer will have the proper resources to thoroughly investigate such things and can report back to you on what is off-limits.

Exit Strategy

At some point, business owners cannot continue managing their businesses like they once did. In the event of severe illness or death, owners are advised to have an exit strategy in place to ensure the business can survive or dissolve as the owner sees fit. A lawyer can help owners determine the best course of action as well as the distribution of debt, collateral, and profit. Lawyers can also work with business owners as the company grows to regularly monitor the status of the business and update future plans accordingly.