pro finance blog
Menu
  • About Me
  • Hire Me
  • Contact Me
  • Submit a Guest Post
    • Privacy Policy
    • Disclaimer
Menu
small business

When is Your Small Business Big Enough to Need a Lawyer?

Posted on June 13, 2018June 16, 2020 by Tina Roth

Many small business owners realize the importance of hiring a lawyer when they’re just starting, but most don’t consider it an ongoing expense. But, any Missouri corporate law attorney worth their salt will tell you that keeping a good business attorney around offers a range of advantages. You may not have the type of business where it’s necessary to keep one on retainer, and there are some issues where you can proceed without a lawyer. But, legal advice should be part of your ongoing cost of doing business for a few reasons.

small business

Legal Problems You Can Tackle Yourself

Although several of these matters are legal matters, paying an hourly fee or a retainer to have a lawyer handle them might be an unnecessary expense. There are plenty of legal resources online and legal blogs that offer solid advice. Just make sure you choose one with a reputation for providing accurate information that’s applicable to your state and type of business.

You’ll probably be okay without an attorney if you’re:

  • Drawing up a business plan, partnership agreement or LLC operating agreement
  • Choosing a business or domain name; those that are taken or trademarked can be found with a quick web search
  • Applying for an Employer Identification Number (EIN)
  • Applying for licenses or permits
  • Hiring staff
  • Updating business agreements or terms of sale
  • Filling out IRS or tax documents

When You Need an Attorney

If you have better-than-average legal knowledge, you can probably do a few more things on your own. However, there are some situations where having a lawyer is imperative. These are issues where you could be in legal jeopardy, when the situation is extremely complex or when not having an air-tight contract could cause you problems down the road. A few examples would include:

  • You’re being sued by a former employee for a matter pertaining to harassment or discrimination
  • You’re entering into a merger, acquiring another company or selling your business
  • You or your company are being investigated at the state, local or federal level
  • Your company is implicated in an environmental issue, even if you weren’t directly involved

When choosing a lawyer, find one that specializes in business and tax law, and who has practical experience in your type of industry. You’ll find that a trustworthy corporate attorney is a good business partner to have around.

Category: Law

Leave a Reply Cancel reply

You must be logged in to post a comment.

About Me

finance blogger

The idea of starting a blog has been hitting me for long; I took it seriously after falling into a spiral of debt and recovering from it.

I have been anxious all through the financial difficulties. I see that same anxiety in the eyes of people, whose ill fate has put them at odd with financial repose.

It makes me compassionate. Out of this compassion and goodwill, I started this blog. I wanted to help all those, who are facing financial distress..




  • Stock Market
    Understanding the Gov Tech MarketFebruary 16, 2023
  • Phuket Real Estate
    Why You Should Invest in Phuket Real EstateJanuary 24, 2023
  • Corporate Governance
    Corporate Governance: What Are the 3 Core Principles of Good Corporate Governance?December 17, 2022
  • Successful Retirement
    How To Plan For Successful Retirement At 50: 5 Steps To Get Started OnNovember 4, 2022
  • Online Money Transfer
    Do You Still Transfer Money Internationally With Your Bank? There Are Better Online Solutions For ThatOctober 14, 2022
  • finance
    Important Roles of the Minister of FinanceSeptember 16, 2022
  • Avoid for New Businesses
    5 Forecasting Faux Pas to Avoid for New BusinessesSeptember 16, 2022
  • Affecting Pensions
    How Inflation Is Affecting PensionsSeptember 2, 2022

    ProFinance Blog is dedicated to help people who are struggling with their personal finances. We have learned the lessons first hand and know how real the struggle is. Being compassionate about the personal finances and blogging about is our way to help people know more about different situations and how effectively they can handle it. So take control of your finances now and take actions towards gaining financial freedom and security. Join us in the mission to self-educate, learn and help others by sharing valuable information on finances. Here you will find information, tools and techniques on various aspects of finances and learn how you can use the information and implement it to make your financial life better than ever.Join us in our mission to financial freedom.

    • Stock Market
      Understanding the Gov Tech Market
    • Phuket Real Estate
      Why You Should Invest in Phuket Real Estate
    • Corporate Governance
      Corporate Governance: What Are the 3 Core Principles of Good Corporate Governance?
    © 2023 ProFinance Blog | Powered by Minimalist Blog WordPress Theme