There are many old adages that apply to why a small business needs to consult with and use the services of an attorney. My favorite is “You don’t know what you don’t know!” It is your job as an entrepreneur to focus on what you do best, which would be to run your business. It is the job of the attorney to understand and provide proper guidance regarding the legal hurdles and pitfalls that are waiting for small businesses. Four legal hurdles that small businesses are likely to encounter include the need for contracts, which choice of entity to select, real estate and need for an exit strategy.
At various times, every small business will need to have a contract drafted. An attorney will be able to help the business determine the exact language that should be included in the contract. The types of contracts that may need to be drafted include contracts for customers, clients, suppliers and even co-owners. Continue reading