Many business owners hesitate to hire a business lawyer because they see legal advice as a cost rather than an essential asset. But, used properly, an attorney helps intelligent business owners make money in at least three different ways.
Lawyers provide a competitive advantage to intelligent business owners.
A Business Lawyer Provides A Confidential Sounding-Board
Did you know that lawyers are required to keep client information confidential? If lawyers violate this requirement, they could be suspended or disbarred. So that means that we take the duty of confidentiality very seriously. It’s like a non-disclosure agreement automatically binds a lawyer.
How does this help the business owner?
If you want a sounding board for a new business idea or want help solving a problem, then a lawyer can be an excellent first step.
A Business Lawyer Helps with Strategic Planning
We’ve talked at length about how lawyers can help business owners be proactive and develop a business strategy on this blog. But the idea bears repeating.
And the critical thing to keep in mind is that not all lawyers are litigators who go to court. A business lawyer helps you manage risk, evaluate options and help you plot a course. Intelligent business owners engage business lawyers to avoid court and build a business on a solid legal foundation.
By getting a lawyer involved in strategic planning early, intelligent business owners ensure that their rights are protected. They avoid disputes and problems that cause less-prudent business owners in time, money, and frustration. And finally, since lawyers have typically had a front-row seat across many businesses, you get to benefit from that insight and experience. Unfortunately, this is something that people who opt for cheap, DIY legal solutions often miss out on.
A Business Lawyer Connects You with Other Professionals
Lawyers know other lawyers. Lawyers network with lawyers through law school, professional organizations, or social media. And one big reason is so that they can provide each other with referrals. So that means that if I am a business lawyer who knows nothing about estate planning or real estate law, I want to have somebody on deck that I can send my clients to.
These will often be other lawyers that a lawyer knows will be a good fit for their clients. Again, this saves you time and money because you don’t have to search for an attorney. Instead, you can often ask an attorney you already know for recommendations.
Interested in hiring a lawyer for your business but unsure where to start? You can schedule a call with us easily or check out our Creators’ Legal Program, which gives you easy access to an attorney.
