We've all been there: with the summer sun shining, it can be hard to feel productive at work. But instead of fantasizing about the beach, combat workplace lethargy and starting preparing your business for fall. Ask a lawyer how to make sure your business is shipshape before things pick back up in the upcoming months. Starting the conversation can be tough so we are equipping with you five areas to help set your focus and get started. Taking a proactive stance can help you save time and money (and save yourself from future legal headaches). If you need a lawyer, you can connect with a Priori Legal lawyer and always receive a discounted rate.
Before summer's end, here are the...
5 Most Important Areas to Ask a Lawyer If Your Business Is Protected:
1. Business Formation
What type of business structure best suits your company? If you haven't asked a lawyer what type of business entity is right for your business, you might be surprised to learn there is a wide-variety--LLC, LLP, C-Corp, S-Corp, B-Corp, sole proprietorship, partnership, etc. Based on your business structure and future plans, a lawyer can advise you about the right entity for you and whether it makes sense for you to switch the structure of your business depending on your company's goals.
2. Intellectual Property
Sure, you filed a trademark for your business name and logo when you first started your business, but what about the rest of your intellectual property? A lawyer can help you make sure that you have all the necessary copyrights, trademarks, patents and licenses so you protect some of your most valuable intangible assets the same way you would the crown jewels.
Do you have contracts with all of your vendors, contractors, and employees? Should you revise any of your contracts or draw up new ones? Particuarly if you've used a template in the past or have used a DIY service like LegalZoom or RocketLawyer, summer is a good time to do a full accounting and review and ask a lawyer if your contracts are actually legally valid in court.
4. Legal Liabilities
Be it premises coverage, malpractice, errors and omissions, or directors and officers insurance, is your business covered? Making sure that you're up to date with your liabilities protects your business from harm. Ask a lawyer to analyze your vulnerabilities and recommend a prudent approach so that the business you have created is not at risk.
More unconventionally, your lawyer can be an excellent source of referrals for other business experts and mentors; ask them if they can make any introductions to help you network and continue to build relationships (and perhaps partnerships) with others.
So forget the summer slowdown; ask a Priori Legal lawyer these questions and get your legal house in order.