If you have a business, you could benefit from a business law lawyer.
A business law lawyer may be one of the last people a business owner wants to hire. This is understandable, as most business owners would rather find ways to make more money and boost profits than make sure their business is complying with applicable laws. But a business that doesn’t follow the law can end up costing a business owner more money than they can ever imagine. Are there certain kinds of business that could benefit from this type of lawyer more than others?
A Business that Enters into Many Contracts
One of the defining features of business law is the business contract. Businesses enter into these all the time, both formally and informally. Sometimes these contracts take months to negotiate and finally sign. Other times, these contracts may occur automatically, hundreds of times each day, as a routine part of the business.
Either way, every time a business enters into a contract, there is the potential for litigation. A business that has a lot of contracts, therefore, has a lot of opportunities for potentially getting into a legal dispute, such as breach of contract. A business with a lot of contracts may be better off having a business law attorney review those contracts to see if there’s anything they can do to reduce any potential legal liability.
A Business that Operates Within a Special Legal Framework
Many businesses have special rules and laws apply to them. For example, those that do business in the waste cleanup, banking, legal, construction or firearms areas are subject to specific laws that apply only to them. These laws can govern how the business operations take place, but they can also control how additional business features must occur, such as with advertising efforts.
When a business is subject to these special rules and laws, a business owner should strongly consider having a business law attorney review the business’ operations to ensure they comply with the applicable legal requirements. If a business isn’t careful, it can find itself paying expensive fines or having a government agency or department shutting it down until the business can prove legal compliance.
A Business in Fierce Competition with Other Companies
Competition is great for the consumer, but it’s not always sunshine and rainbows for the business. Aggressive marketing, cost-cutting and innovation are a must for businesses with an extensive and strong competition. The business must always work hard to stay ahead, or keep up with, those in the same industry. But in the process, it might push the legal envelope. Or maybe it does everything by the book, but a competitor violates the law in a way that harms the business.
Whatever occurs, fierce competition creates a breeding ground for litigation among businesses or legal penalties from a government authority. This makes it highly likely the services of a business attorney will be necessary.
Schedule your complimentary consultation with our legal team at the Wilbanks Law Firm, P.C. to learn more about hiring a business law lawyer by calling 706-510-0000 now.