CONSULTING A LAWYER
Small business owners often hesitate to contact an attorney before making important business decisions. Most legal problems can be avoided or resolved without expensive court proceedings. Attorneys help business owners handle small problems before they become big headaches. While most business owners can handle routine matters themselves, the prudent business owner should always consult with an attorney in the following cases.
Purchasing or selling a business
An agreement to purchase or sell a business should always be in writing and signed by all parties to the transaction. Purchase and sale agreements are customized contracts that should only be prepared by a licensed attorney.
Purchasing or leasing property
The purchase or lease of commercial property is a large investment for most small business owners. Real estate purchase agreements and lease contracts often contain terms favorable to the seller or landlord that can be negotiated and changed. All paperwork should be reviewed by an attorney before it is signed to ensure the documents accurately reflect the transaction and protect the purchaser or tenant’s interests.
Firing a key employee
In this litigation-focused society, more key employees are suing for wrongful termination. Small business owners sometimes make firing decisions without proper documentation. Before firing key employees, owners should consult with an attorney to ensure the termination is lawful and supported by adequate documentation.
Disputes between business partners
Working with a business partner is rewarding, but can lead to disagreements over management of company operations. Most disputes can be avoided with a written shareholder, operating, or partnership agreement. When disputes arise, an attorney can help business partners mediate a resolution without expensive court proceedings.
Disputes with vendors and customers
Most disputes with vendors and customers are resolved by the business owner. Occasionally, something more is required. An attorney can help negotiate a settlement without expensive court proceedings.
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