Why do I need a Business Lawyer?

Some entrepreneurs think that lawyers are prohibitively expensive and unnecessary as nowadays legal templates are freely available for download from the internet. This approach is both common and wrong. A similar mindset can lead to many successful startups to wind up their business or something worse.

A surprising reality  - one in 10 startups fail due to legal reasons, many of which could have been avoided if essential legal matters were taken care of properly. This happens because these business owners either tried to use a contract template off the internet or never sought legal counsel from a lawyer.

Legal protection is important for businesses, but it is not always as simple as using a program that generates a draft of a legal document and hoping or assuming that it is the right type of document for your business.

 It can be said that we are in a middle ground, where technology helps to alleviate some of the basic and labour-intensive groundwork done by lawyers (which is normally charged directly to the client). However, we will still need to see qualified lawyers giving legal advice to make the content of legal documents more suitable for their clients.

A cost-efficient, technology-oriented service coupled with face-to-face consultations with lawyers might be the best way to give business owners real peace of mind.

Here are some essential questions all business owners must consider:

1. Is my business compliant?

2. What business structure should I use?

3. How should I avoid legal problems with employees?

4. Am I appropriately protecting my personal assets?

5. How should I structure a partnership agreement?

6. Am I appropriately protecting my business name?

7. What should I do if I get sued?

8. Should I use a non-disclosure agreement?

9. Are oral contracts enforceable?

10. Do I need an attorney, or can I do it on my own?