There are a lot of legal issues to consider when you are running your own business. While there will be a lot of things that you are going to be able to do on your own, there will be many more things that are better handled by a corporate lawyer. To have a good understanding as to why you should have a corporate lawyer working for you, here are some things that they can handle:
They Can Draft Contracts
If you have to enter into various contracts as an everyday part of your business, you will want to make sure that they are drafted in perfect order. They need to be clear and protect your best interests. You also need to make sure that there are not any accidental loopholes that someone could use against you in order to get out of the contract. This is why it is best for your lawyer to draft all contracts. Simply explain to your lawyer what you are looking for and they will take care of the rest.
They Can Handle Your Tax Liabilities
Dealing with business taxes can be overwhelming for anyone that does not handle such issues as a part of their daily job. Also, if you were to continue to do all of your own accounting, you could end up making some mistakes. Even the smallest of oversights can be costly when you wind up being audited by the IRS. It is best to allow your corporate lawyer the chance to handle all of your business tax liabilities. They will also be able to work closely with an accountant that also works for your company.
They Can Ensure You Aren't Breaking Employee Laws
When it comes to paying employees, needing overtime from them, writing up someone for a disturbance on the job, or even firing someone, you have to be extremely careful. One wrong word and you could end up in the middle of a lawsuit. This is why it is best to allow your lawyer to handle such issues, or to at least guide you along the way. This will ensure that everyone is on the same page and no lines are accidentally crossed.
If you have some business associates that make use of a corporate lawyer, you might want to ask what law firm they use. Seek out references and talk with a few different lawyers until you find the one that seems like a good fit.