Have you ever wondered if you should hire a lawyer to help you with a business issue?
A lawyer can assist you in various business-related situations, including the incorporation process, drafting contracts, and, if required, representing you in court. But will you always need a lawyer, or are there instances when you’d be better off saving money and handling legal processes on your own?
Here are some guidelines in choosing which legal business concerns you can likely manage on your own and when you should hire a lawyer.
Legal Matters You Can Handle by Yourself
Choosing A Business Name and Registering a Trademark
Naming a company isn’t as simple as selecting a name and just going with it. You’ll need to register a “Doing Business As” Name if you use a name different from your own. You should also check whether your preferred URL (domain name) has already been taken. You may accomplish this on your own by looking up domain names in the public WHOIS database.
You can also do your own trademark search and claim. To determine if a similar name, or a variant of it, is trademarked, use the Patent and Trademark Office’s trademark search tool.
Structuring Your Business
You can get into a partnership agreement or create an LLC without legal guidance. However, you should consult with an attorney at law in Birmingham, AL, about the many complex implications for your firm.
Filing and Registering Paperwork
A few of the legal stages of forming a business may be completed without the assistance of a lawyer. This involves obtaining the necessary licenses and permissions, as well as registering your company for tax purposes and obtaining an Employer Identification Number (EIN).
When Should You Hire a Lawyer?
While online brokers can gladly assist you with any of the items listed above, more complicated concerns will necessitate the assistance of an experienced legal practitioner. These can include the following:
Putting Together Buy-Sell Agreements
If you have many owners in a company partnership or LLC, you’ll need a buy-sell agreement in place to protect you if one of them passes away or wishes to transfer control. These contracts have complex parameters that all parties must agree with, so it’s best to complete them with legal assistance.
Dealing with Litigation
Working with litigation attorneys in Birmingham, AL, will help you handle legal concerns involving existing or former employees or clients, harassment lawsuits, environmental lawsuits, government inquiries into legal infractions, and so on.
Processing Claims or Insurance
Insurance law encompasses various cases, including insurance policies and claims. In essence, an insurance defense attorney is responsible for three things: ensuring that policyholders are protected in the event of a lawsuit, assisting individuals in determining whether insurance must pay a claim, and ensuring that insurance firms follow all requirements.
In all parts of the claims process, an insurance defense attorney in Birmingham, AL, can represent insurers and their policyholders.
Incorporating A Company
While you may form a legal business organization on your own, such as an LLC or a business partnership, forming a corporation with shareholders and a board of directors is a more complicated procedure. The administrative side of handling complex tax and legal procedures needs the assistance of a corporate lawyer.
Making a Patent Application
Patents are costly and time-consuming to obtain, and getting one authorized might take years. That’s why “patent pending” messaging is common in the marketplace.
So, unless you’re in the pharmaceutical or biotech sectors, think about whether patenting your product provides you with a significant competitive advantage. Consult a patent attorney for assistance in evaluating your product and determining what rights you will obtain.
You may not realize you require legal help until it is too late. Because attorneys can assist you in remaining compliant with the law and spotting potential legal difficulties early on, make sure to find an expert attorney immediately to get ahead of the game.
The lawyers of McCallum, Hoaglund & McCallum, LLP passionately seek justice for our clients in state and federal courts in areas ranging from complex business litigation, medical malpractice defense, insurance defense, and more. Looking for an attorney at law in Birmingham, AL? Contact us today!