As an entrepreneur, you probably anticipated needing legal assistance in forming your new company. However, you may have thought that once that task was completed, your business law needs would be few and far between. As you begin operations, however, you may find that your new company needs to continually comply with additional laws, or you may otherwise need to ensure that your legal bases are covered.
If you have employees, you need to make sure you do not violate laws regarding pay, benefits, discrimination, harassment and more. As you grow, you should consider a comprehensive employee handbook in order to make sure everyone understands the policies and procedures to protect your company. If you wish to prevent competition by employees after they leave, and maintain the confidentiality of certain aspects of your business, you may need other agreements in place with your employees.
As you begin to do business with other parties, you should make sure that you form business contracts adequately to protect your business. You do not want inadequate language or missed provisions to create loopholes that allow the other party involved to avoid fulfilling the obligations under the contract. It’s important to have the legal backing to protect your rights as fully as possible.
The above are just two instances in which your company would need support from a business law attorney. Establishing an ongoing relationship with legal counsel is an extremely valuable move for any business owner. As your company grows, buys or leases property, raises capital or incurs debt, undergoes mergers/divisions or sells equity, your lawyer can help the company adapt legally. This can protect your interests and help prevent unnecessary litigation down the road.