Do you need to hire a lawyer to help you get started after you have an excellent idea for a new business? No, not always. Many initial steps in selecting and forming your business entity can complete independently. However, as your business progresses—for example, when you begin hiring employees or entering into more complicated agreements—you may require the assistance of a lawyer. Hiring a lawyer can save you money by preventing mistakes, such as getting involved in a situation with unintended (and potentially costly) consequences if you're unsure about something at any point in the process.

A small business attorney can assist in a variety of ways. These are some examples:

Initiate a Business

A small business attorney can assist you in determining the best business entity type for your company before you even begin. This will include considering tax implications, the number of partners or investors, and other variables. Get it right the first time to avoid costly problems later on.

Contracts

You will receive a 28-page legal document filled with Latin phrases and legal jargon. What does it all mean? Even if a contract is written in "plain English," it may be difficult to read. A small business attorney can assist in decoding the mysterious document and translating it into everyday language. Following that, your attorney will advise you on the following steps: suggesting additional protection, negotiating the terms, and creating a document that makes the most sense for your business.

Disputes over Real Estate and Property

Landlords require assistance with tenant disputes, and commercial businesses need help renegotiating leases. A New York Business Attorney is familiar with state, county, and city regulations and ordinances. This category includes assisting you with property disputes, real estate transactions, and rent collection.

Resolving Commercial Issues

Consider this a catch-all for anything and everything that may arise during your company's operations. Insurance, franchising, employee hiring, and firing, diversity awareness, job descriptions, employee policies and procedures, vendor relations, contract bidding... the list goes on and on. Even the most well-prepared and well-meaning business owner can run into problems. A business lawyer advises small business owners on applicable laws and best practices and represents them in the event of a dispute. Furthermore, your lawyer can draught collection letters on your behalf to assist you in getting paid.

Intellectual Property Rights

Small businesses can rely on intellectual property as their primary source of revenue. Many small businesses in New York lack the resources and time to monitor and enforce their intellectual property rights properly. Your attorney can assist you in developing an IP strategy to protect these valuable assets.

Planning for Succession

If you've had years of success and are ready to retire or try something new, your small business must have a succession plan. Exit planning is a comprehensive strategy for a business owner to leave their company and provide guidance for leadership succession. This should begin years before you intend to go, and your attorney can assist you with the process.

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Most small businesses lack the financial resources to hire a full-time legal counsel. Instead, they can hire a small business attorney on an as-needed basis.

Hiring a small business attorney is not cheap but can be invaluable. An experienced business attorney will assist you in identifying risks in your business that could jeopardize your success.

When you work with a New York small business lawyer, you'll have an experienced person on your side. Contact a knowledgeable New York small business attorney right away. We've assisted hundreds of other small business owners in your position. Please get in touch to see if we can be a part of your success story.