Running a business entails efficient juggling of core operational systems. There’s marketing management to perfect. There’s inventory management to master. And there’s people management to intuit. In all of these systems, problems can easily arise. If the mishap is something you can fix internally, that’s all well and good. But what happens if the issue at hand gets blown out of proportion to the point that it becomes a legal concern?
That is where a business law firm comes in. Ideally, your business has a legal counsel on your payroll from the get-go. Here are four instances where this will come in handy.
1. Employee files a legal complaint
Here employee could mean a current or former employee. Grounds for legal complaints run the gamut, from wrongful termination to workplace discrimination. Your business will also be liable if one of your managers is accused of sexual harassment.
A legal complaint from a single employee is distressing as it is. Now consider getting a class action lawsuit like what 7 Eleven, Inc. faced this year. You need a winning team of lawyers to address such a situation.
2. Government entities file a legal complaint
All businesses must abide by laws imposed by the government. Failure to stick to the rules and stipulations mandated on the state, federal, and county levels on how to go about your business will put you at odds with a big enemy–Uncle Sam.
Remember that Uncle Sam pulls no punches. It even filed a lawsuit against tech giant Google. The motivation behind the lawsuit is Google’s alleged monopoly of online advertising and searches, which violates the United States’ competition law.
Once Uncle Sam knocks on your door with a legal complaint, you need to be prepared. A legal counsel by your side should give you the confidence you need to face a battle that will look like a David VS Goliath situation.
3. Your business faces environmental complaints
There’s a long list of environmental laws whose bounds you must not overstep. To name a few, there’s the Clean Air and Water Acts, Endangered Species Regulation, and the National Environmental Policy Act.
It is in your best interest to stay abreast of these laws. However, if you have legal counsel on retainer, you can delegate the task to them.
4. Business negotiations
Business operations are mired in legal contracts that need to be read and signed. From choosing a supplier to drafting a sales policy, you need the help of a business lawyer to make sure that the contracts you use work in your favor.
The same applies to when you need to sell your business, acquire another business, or merge with another business entity. All of these undertakings will introduce you to legal jargon that requires the eyes of a trained business lawyer. For you to better focus on other aspects of the business you have the expertise for, you may want to outsource the lawyering to actual lawyers.
Having legal counsel on retainer will give you peace of mind. Your lawyer will be knowledgeable about the business practices you uphold. They will be on the same page as you, the business owner, and your managers too. Once a legal concern arises, they will be ready to take on the problem, and you will have the upper hand. Sure, you can opt to hire a lawyer only when you need one, but that might be costlier in the long run.
To be on the right side of the law should be one of your business’s main priorities. A legal counsel can help you with that. Remember that one unanticipated lawsuit is enough for your business to receive a closure notice. Do not let all of your efforts go for naught.