4 Ways Business Lawyers Can Add Value
There's no question that business lawyers play an important role in protecting the interests of their clients. But what many people may not realize is that business lawyers can also add significant value to a company, beyond just protecting its legal interests. Here are 4 ways business lawyers can add value:
1. Draft and Review Contracts
Contracts are the backbone of business. They define the terms of agreements between two or more parties, whether they're a partnership, an employer-employee relationship, or any other agreement where both sides must comply with certain obligations.
Contracts also happen to be one of the most common legal documents drafted by business lawyers. That's because there are many different types and specialties within contract law that require specialized knowledge and experience for drafting contracts in compliance with state laws; it's not just about knowing what you want to say in your contract but how you say it as well.
For example: if you're a company who hires employees from around the world (or even just across town) then you'll need to have an employment contract that complies with the laws of all the different states where your employees work. Business lawyers are experienced in drafting contracts that comply with state and federal law, which can save you time, money, and a lot of headache down the road.
2. Advise on Business Decisions
Business lawyers aren't just limited to contract law. They also have experience in other areas of law that can be helpful to businesses, such as intellectual property law, corporate law, and employment law.
When making big decisions about a company, it's important to have an advisor who is familiar with all the different laws that could potentially affect your business. For example, if you're thinking about starting a new business, you'll want to talk to a business lawyer about the different business structures available to you and which one would be the best for your company.
3. Protect Your Intellectual Property
Intellectual property, such as trademarks and copyrights, is a very valuable asset for businesses. It's important to have someone on your team who knows how to protect your intellectual property and can help you navigate the often complicated process of registering trademarks and copyrights.
4. Negotiate Deals
One of the most important skills a business lawyer can have is the ability to negotiate deals. Whether you're negotiating a contract, a loan, or just trying to get the best price on office supplies, a good negotiator can save you time and money.
Business lawyers can add value to a business in many ways, but these are just five of the most common ways. If you're looking for legal help for your business, be sure to talk to a business lawyer about the different services they offer. They may be able to help you with things you never even thought of.