Why Do You Need a Business Attorney in Phoenix?
There are a variety of different reasons why you should work with a business attorney. Although it is a cost upfront, hiring a Phoenix business attorney can save your business a lot of money in the long run. Below are six reasons why you should work with an attorney if you own a business in Phoenix.
- Avoid Lawsuits
Many people don’t think about hiring a lawyer until they have a problem. However, enlisting the help of an attorney as you build your business can reduce your exposure to liability and help you avoid lawsuits before they occur. Waiting until something has gone wrong to reach out to an attorney will end up costing you significantly more money and stress, as litigation can drag out for years. All it takes is one misstep to substantially hurt the future of your business. Your goal should be to prevent any lawsuits before they happen.
- Help Draft Agreements
There are a variety of agreements that you enter into as a business owner, such as operating agreements, employment agreements, leases, and agreements with customers and suppliers. A business attorney is an invaluable person to have by your side as you create these contracts. They can help you throughout the whole process from initial discussions about your goals and drafting to negotiation and the eventual signing of the document. Business attorneys are also there to help you review and renegotiate contracts that you already have.
Some people opt to use online DIY templates, but these forms come with many dangers. First, they are one-size-fits-all agreements that will not be unique to your business’s needs. Additionally, they may be vague, incomplete, or not even legally binding. Only through working with an experienced Phoenix business attorney, can you be sure that you have secured the most ideal terms for your business in a legally binding agreement. These contracts are the foundation of your business, and not putting up the cost upfront can be devasting to your business down the line.
- Ensure Compliance with Local, State, and Federal Laws
There are complicated local, state, and federal rules and regulations that you must follow as a Phoenix business owner. Not following these laws can have severe consequences. For example, a zoning or environmental violation can result in significant fines. A knowledgeable Phoenix business attorney will know the ins-and-outs of all these rules, including any loopholes and best practices. You will be able to operate your business confidently that you are compliant.
- Help Make Structural Decisions
How to structure your business (i.e., LLC, S-Corporation, C-Corp, or LLP) is one of the most critical decisions that you make. There are several different options available and picking the one best for the future of your business can be daunting. A business attorney can advise you on the benefits and drawbacks of each option taking into consideration exposure to liability, tax implications, and employee-related concerns, among other issues. Additionally, as your business grows, your attorney can help you evaluate whether or not it makes sense to restructure.
- Allow You to Focus on Your Business
As a business owner, you have a lot on your plate. Each minute of your time is valuable as you run the day-to-day of your operation, and the more time that you spend trying to resolve legal issues, the less time you have to focus on your business. As you build a relationship with your attorney and they become familiar with your business, the relationship will become more efficient and effective, allowing you to put more of your energy into your business.
- Avoid Mistakes
There are countless legal issues that can arise when you are running a business. Without specific legal knowledge, you won’t even be aware of potential problems until they occur. An experienced business attorney can help you avoid mistakes of which you were not even aware existed. They can also let you know if you require other specialized assistance, such as a tax professional, and connect you with these individuals.
Your Phoenix Business Attorney
If you are a Phoenix business owner, you should reach out to a knowledgeable business attorney. Nicole Pavlik is an experienced business attorney based in Phoenix, Arizona. Call Nicole Pavlik Law Firm today at 602-635-6176 to schedule a free consultation and discuss your business planning needs.