Legally Protecting Your Business

It is only natural for business owners to be concerned about their future, especially with the always changing status of the economy. Business owners rely heavily on ensuring there are no underlying issues with their business that could cause them to lose everything. For instance, ensuring a dedicated internet access resource for the business.  Having a commercial lawyer to turn to in the time of need is essential for every business owner, as it is better to be safe than sorry.

Commercial lawyers, regulated by the Uniform Commercial Code, are part of a field of law that mainly focuses on the sale and distribution of goods sold by a business, along with the financing of certain transactions conducted by the business. It is important for business owners to understand how important it truly is to have commercial lawyers on your team to review all transactions regarding the negotiation of sales, prior to actually carrying out the transaction. This is a crucial step, mainly because if the business owner violates any unknown legal requirements on their part, their business could immensely suffer in the form of loss of profits, important contracts being canceled, as well as legal penalties against them. Because laws and regulations are constantly changing, whatever a business owner may have successfully done in the past may no longer be a legal option. Rather than taking the risks of losing profits and/ or being sued by the other party, it is a much smarter idea to have a commercial lawyer review any type of transaction proposal before it is completed – prevention is the key to success in these cases.

If an issue occurs involving the business and they are found to be liable for the issue, there is legal action that they can take involving a lawyer’s assistance. Finding a business lawyer who is trustworthy and reliable can certainly help the legal issue be resolved more smoothly. One option that could be negotiated would be a settlement involving a payout from the business, to the person filing the claim against the business. While this option may not be ideal for business owners who do not have very high assets, it may be the best option to avoid a higher court- ordered settlement payment, as well as negative, drawn- out publicity that could do further harm to the business.

Another benefit of protection of businesses by lawyers would be that the lawyers can use Case Law to benefit the outcome of their client’s case. In this case, the lawyer would use a historical case in which the terms of the case are very similar to their current case at hand. If the outcome of the historical case benefitted the affected business at that time, and a law was put into effect because of the ruling of that case, the lawyer will fight to ensure that the same desirable outcome will occur for their current client. In more simple terms, it means ‘this case from ten years ago had this great outcome, the current case I’m working on has the same factors, and therefore we expect the same exact great outcome as the original case.’

Lawyers have so many resources to assist them with obtaining crucial information to help them win cases, or to even provide their business clients with the best possible legal advice. Not only is it important to gain the assistance of a lawyer during pressing legal matters, but it is also extremely important to obtain the guidance of a business lawyer on an ongoing basis to simply protect the best interest of the business and the owner as well. Having the legal guidance throughout every aspect of your business is the best prevention in avoiding all negative legal issues.

 

Tags: Business, Lawyer, Small business

Category: Business