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7 Ways a Lawyer Can Help Your Business

Businesses and people often treat lawyers like plumbers or firemen: you only call when there is a problem. This is an understandable reality: Whether you are starting a business or operating a business on a day-to-day basis, many other tasks require attention (and money), like marketing, sales, staffing, and other administrative matters. The last thing a business owner often wants to think about is a lawyer. Smart business planning, however, should include calling and using a lawyer to prevent problems. A lawyer can help a business protect itself from a variety of problems (like partnership disputes and lawsuits). Businesses often do not realize that spending a little time, effort, and money on an attorney to identify and resolve potential problems could save that business numerous headaches (and a lot of money) down the road. Here are 7 ways a lawyer can help a business protect itself from trouble. 7 Ways a Lawyer Can Help Your Business 1) Incorporation Individuals often incorporate and start their businesses themselves without the assistance of an attorney. While that may be fine for a simple business (such as a single-owner LLC), it may not be ideal for a business that has multiple owners or transacts business across state lines. In these situations, a lawyer can help a business owner choose the right corporate structure (LLC, S-Corp, C-Corp), choose where to incorporate (in your home state or in Delaware), understand whether by-laws or other documents are needed, and – for multi-owner companies – understand the need for an operating or partnership agreement. Generally, the more complicated the business, the more likely an attorney should be...