Running a business can be quite challenging especially when you have to deal with the legal part of it. Having a competent business lawyer will go a long way in making certain your company doesn’t end up on the wrong side of the law, which ensures your business safety. Hiring lawyers early enough allow them to stay up to date with the legal intricacies of the industry. Plus, when they know the foundation of your company, they are able to give you immediate advice and help you see things from a different perspective. The following are some of the services lawyers can offer your company:
Conflict Resolution
We live in a litigious business environment. Some conflicts are resolved amicably and peacefully through arbitration and mediation. However, several of them often end up in court. A lawyer is meant to handle lawsuits filed against your company and ensure your rights are protected in court. If not handled properly, some disputes could render your company bankrupt.
Offer Legal Business Advice
The knowledge lawyers have about the specifics of the industry can come in handy and save you time on certain matters. In any business, there’re always loopholes that if discovered could be used against your company. Your lawyer’s responsibility is to ensure you are up to date with any legal business information regarding your company. In addition, lawyers can offer advice on the rights and responsibilities of company directors and officers.
Corporate Formation
A lawyer’s responsibility also includes helping you create, register, organize, as well as dissolve a company. A lawyer can draft legal documents such as articles of incorporation, employment contracts, partnership contracts, non-disclosure agreements, and much more. When a company is selecting its legal structure, a lawyer can help steer it in the right direction.
Tax Law
Nothing can be more frustrating for a company like receiving a letter from the HM Revenue & Customs. A lawyer helps your company navigate the complex rules and regulations of the UK’s tax legislation.