Business

6 Reasons Why Your Small Business Might Need A Lawyer

By Ryan Bradman | May 23, 2022

Table of Contents

The largest companies in the world have an army of lawyers on call. What else do you expect when they’re bringing in billions of dollars every year? If you run a small business, you won’t be able to afford such luxury.

Even though you won’t have a legal team following you around all day, you’ll still need a good lawyer now and again. We’ll look at some instances when you’ll need one, so you’ll be able to start looking for candidates.

Why Your Small Business Might Need A Lawyer

1. Selling Your Business

You’ll need a good lawyer until the very end, which could be decades away. If you have the right person on your side, you’ll walk away with more money. It will also be a hundred times easier to get through all the paperwork.

Once you decide to sell your company, a business solicitor will do most of the hard work, including negotiating with multiple buyers. I’m sure they’ll need to handle a few internal disputes between your unsettled employees too.

2. Fighting With Employees

If an employee feels like you sacked them unfairly, they may take you to court. You might face a few of these accusations while running own business, but it could get much worse if you’re unlucky.

What will happen if you get into a fight with an employee? If you get charged with assault, you’ll need the best advice for hiring a criminal lawyer: make sure it’s someone with lots of experience, even if they’re expensive.

3. Being Charged With A DUI

Some people won’t be able to work without a driving license. If you end up with a 2nd DUI in Ontario, it could be ages before you’ll be able to drive again. You’ll need an excellent DUI lawyer to help win the case.

Business owners can hire extra drivers to make deliveries or transport people around, but it’s still less than ideal. You’ll feel lost if you can’t get behind the wheel, so do everything possible to keep your license clean.

4. Taking Care Of Contracts

You must have contracts with everyone involved in your small business. Employees will have an employment contract, which must be followed at all times. All the outside partners you work with will have one.

You’ll have a building you rent from a landlord, services you need to function, and supplies that get delivered on a regular basis. If someone invests in your business, it will only be official if you have an ironclad contract.

5. Taking The Company Public

You might be lucky enough to take your company public one day. It will feel like you’re living in a different world. You’ll have a lot more people to look after, plus there will be more rules and regulations to follow.

It’s impossible to take a business public without working with lots of lawyers. You’ll also need to keep them around once it’s official. If they’re good at their job, you’ll have fewer problems to deal with in the future.

6. Build Up Good Relationships

If your business keeps moving in an upwards trajectory, you’ll need lawyers non-stop. It’s a good idea to work on building great relationships from the beginning.