As a business owner, you must always watch the bottom line. You have to think carefully about where you spend your money and what you can do yourself instead of hiring an outside expert. There may be some routine legal issues that you can handle on your own, but there are other situations when hiring a lawyer can save your business significant money, time, and aggravation.
Hiring a Business Lawyer May Save You Money
A business lawyer may help save you money when you are doing one of the following:
- Buying or selling a business. People buying and selling a business have a lot to consider beyond the actual purchase price of the business. An experienced attorney can handle preliminary negotiations, drafting an agreement, pre-closing review, closing, and any other needs that come up during the purchase or sale of a Missouri business.
- Planning for your business succession. It can be overwhelming to think about what will happen to your business after you retire or if you become incapacitated. A succession plan can ease the transition, and an attorney can review all of your options with you.
- Trying to prevent litigation. An attorney can make sure that you draft enforceable contracts, keep the right business records, stay current on applicable laws and regulations, and take other steps that make business lawsuits less likely.
- Facing business litigation. Breach of contract, breach of fiduciary duty, employee claims, and other types of litigation can endanger your business’s future. An experienced business lawyer can help you negotiate a settlement or represent your business interests in court.
Additionally, a business lawyer can help you comply with government regulations, form an LLC, or take other steps to protect your business.
If you make a mistake in any of these critical areas, then the cost to your business may be significantly more than the cost of hiring an attorney. Additionally, you can free up more of your time to work on profitable business tasks rather than potentially risky legal tasks that you could outsource to an attorney.
Learn More About Whether You Can Afford an Attorney
All Missouri businesses have unique needs. We invite you to contact us to discuss your needs and whether our Perryville and Cape Girardeau business attorneys can help your company. Please complete our contact form or call us today to schedule your initial meeting.