Small business owners are faced with numerous challenges such as running funds, clients management and engagements, investors engagement, intellectual property protection, employment matters, industry regulations and compliance matters, competitions and collaborations matters, stabilities and expansion issues, taxation issues, etc. Each highlighted challenge is filled with opportunities as well as risks which is likely to sink the business.
It then becomes pivotal for all small business owners to consider methods and ways to preventing damaging and unforeseen occurrence from happening to the business. Hence the need for a small business lawyer.
Unfortunately, small business owners prefer to solve problems rather than preventing them and it safe to say that you are most likely going to save cost going for regular check-up with a doctor than going when your system breaks down. So basically, a business lawyer is someone you go to see for your regular business check up so you know the status of your legal health per time.
The popular misconception that lawyers are expensive is nothing more than a toxic mentality that should be dislodged. All successful big businesses are entities that have overcome the fiercest of storm and are not afraid to welcome challenges and the reason majorly is because they have lawyers and professionals who are capable to help manage their affairs.
Again, getting a professional service from a lawyer should not be consider expensive and what is truly expensive is not getting the service at all, you are likely to lose your long time investments if you choose to walk blindly.
Small businesses who needs the service of a business lawyer can negotiate on convenient payment plan that is best for their business depending on their budge. In some cases, some business lawyers are happy to grow with your small business while helping you to make even more money, it is not always about getting your money.
So it could be a sole proprietor structure, it could be a company structure; and it could be a trust structure. A small business lawyer will help you work out which structure works best for you and then will draft up the necessary documents to get you up and running.
Generally, the next task that a small business lawyer will help you with is putting together your business Terms and Conditions. Whether you are a service-based business, or a product-based business, you will need a client agreement, or sales terms which set up what you are doing for your customers, how much you are selling your product or service for, and how you want to be paid.
The small business lawyer will draft up those business terms for you. As your business grows, it is likely that you will be involved in more complex contract negotiations. You will have bigger clients. You will have bigger customers. At the end of the day, your small business lawyer can come in and review and draft the relevant contract and can make sure you are protected legally.
Similarly, a small business lawyer will create a service agreement that outline the product or service you are providing the payment obligations, refund or return policies, disclaimer statement and other vital terms clearly outlined and this even more important in some high risk industry.
Many small business owners after a number of years of running the business decide to sell the business. A small business lawyer can assist with the business sale and obviously assist with the purchase as well. What does that mean? Well, at the end of the day, it really means, drafting the contract of sale, assisting with the settlement process, and assisting with the due diligence process.
In a typical business place it is not uncommon to have employers or an independent contractors having access to vital trade secret, credit cards and all manner of confidential documents—a business lawyer help you make relevant agreements such as a non-disclosure agreement, independent contract agreement, non compete agreement also so on depending on the situation.
Similarly, a business lawyer can serve as an HR expert assisting with your employee management issues, ensuring compliance with all labour/employment laws.
conclusively, like all human interaction it is not uncommon to see misunderstanding leading to dispute, a small business lawyer can assist, make sure you are protected legally and make sure a settlement is negotiated which helps save you time and money.
Folarin Ebiti is a young business lawyer, based in Lagos, he is passionate about helping business owners maximize there opportunities using legal tools. He is also a tech enthusiast with a commitment towards legal and tech innovations.
E-mail: folarinebiti@yahoo.com
It then becomes pivotal for all small business owners to consider methods and ways to preventing damaging and unforeseen occurrence from happening to the business. Hence the need for a small business lawyer.
Unfortunately, small business owners prefer to solve problems rather than preventing them and it safe to say that you are most likely going to save cost going for regular check-up with a doctor than going when your system breaks down. So basically, a business lawyer is someone you go to see for your regular business check up so you know the status of your legal health per time.
The popular misconception that lawyers are expensive is nothing more than a toxic mentality that should be dislodged. All successful big businesses are entities that have overcome the fiercest of storm and are not afraid to welcome challenges and the reason majorly is because they have lawyers and professionals who are capable to help manage their affairs.
Again, getting a professional service from a lawyer should not be consider expensive and what is truly expensive is not getting the service at all, you are likely to lose your long time investments if you choose to walk blindly.
Small businesses who needs the service of a business lawyer can negotiate on convenient payment plan that is best for their business depending on their budge. In some cases, some business lawyers are happy to grow with your small business while helping you to make even more money, it is not always about getting your money.
What exactly does a small business lawyer do?A small business lawyer assists with many tasks that a small business owner needs them with. The first is generally structuring the Business. So if you are starting a business you will need to work out what legal structure makes the most sense for you, your partners, nature of business and your employees.
So it could be a sole proprietor structure, it could be a company structure; and it could be a trust structure. A small business lawyer will help you work out which structure works best for you and then will draft up the necessary documents to get you up and running.
Generally, the next task that a small business lawyer will help you with is putting together your business Terms and Conditions. Whether you are a service-based business, or a product-based business, you will need a client agreement, or sales terms which set up what you are doing for your customers, how much you are selling your product or service for, and how you want to be paid.
The small business lawyer will draft up those business terms for you. As your business grows, it is likely that you will be involved in more complex contract negotiations. You will have bigger clients. You will have bigger customers. At the end of the day, your small business lawyer can come in and review and draft the relevant contract and can make sure you are protected legally.
Similarly, a small business lawyer will create a service agreement that outline the product or service you are providing the payment obligations, refund or return policies, disclaimer statement and other vital terms clearly outlined and this even more important in some high risk industry.
Many small business owners after a number of years of running the business decide to sell the business. A small business lawyer can assist with the business sale and obviously assist with the purchase as well. What does that mean? Well, at the end of the day, it really means, drafting the contract of sale, assisting with the settlement process, and assisting with the due diligence process.
In a typical business place it is not uncommon to have employers or an independent contractors having access to vital trade secret, credit cards and all manner of confidential documents—a business lawyer help you make relevant agreements such as a non-disclosure agreement, independent contract agreement, non compete agreement also so on depending on the situation.
Similarly, a business lawyer can serve as an HR expert assisting with your employee management issues, ensuring compliance with all labour/employment laws.
conclusively, like all human interaction it is not uncommon to see misunderstanding leading to dispute, a small business lawyer can assist, make sure you are protected legally and make sure a settlement is negotiated which helps save you time and money.
Folarin Ebiti is a young business lawyer, based in Lagos, he is passionate about helping business owners maximize there opportunities using legal tools. He is also a tech enthusiast with a commitment towards legal and tech innovations.E-mail: folarinebiti@yahoo.com
Tel: 08030564264
