If you’re the owner of a startup (or are just around the corner of becoming one), let us just say, congratulations. It’s a bold and impressive move, as well as a testament to your creativity, entrepreneurial spirit and the ability to think outside that tedious box.
No matter how many, and how ingenious the cogs of your business mind, however, you will need a little help on the side. And nobody makes the sidekick during your quest for success as well as a trusted, competent lawyer who believes in you and your company.
You may think of lawyers as an emergency measure to resort to when things start heading south, or necessary evils who will cut holes through your pockets while they take care of the humdrum paperwork. This is the kind of expert legal advice that could save your business.
Yes, legal professionals can pull you out of the fire and get certain bureaucratic hindrances out of your way, but a true and passionate expert can, and will, do so much more for your startup. And in a heartbeat, the service and expertise of your lawyer can quickly become one of your startup’s greatest assets. Here’s how:
Lawyers Tell You What You Can Do (and What You Cannot Do – “Unless…”)
J.P. Morgan once said “I do not pay my lawyers to tell me what I cannot do, but to tell me how to do what I want to do.” It takes creativity to find out what quality will differentiate your startup on the market, and then plenty of hard work and dedication to make it actually happen. Sometimes, what you want to bring to the entrepreneurial table with your business product or service may not even be legal at first.
Just think of Pinterest, a hugely successful social network built around the usage of copyrighted images; or Uber, the mobile app company that introduced a revolutionary approach that challenged (and in most countries, defied) taxi licensing requirement. Both have bent the rules and made history.
If you have a lawyer with bounds of knowledge on your side, he or she will be able to find that coveted loophole that will allow you to break into a potentially untapped market. It’s therefore essential you find a trusted professional who trusts in you and your business idea; one with a can do attitude that will recognise the right platform and legal approach to see your business dream come about.
But also, one that will know when to draw the line and protect you from potentially severe consequences if you break the law. You may strike gold and find The One immediately, but in case you need some more guidance, we have compiled a list of things you should consider when looking for the right lawyer for your business.
Expert Legal Advice Builds The Foundations For Your Operations
In other words, they make sure all the legal bases are covered, so you can skyrocket your business idea into the world without fear or worry. Be it to counsel you on the right type of legal structure for your company, regulate the relationships with your stakeholders with meticulously drafted contracts, pick the best insurance package for your specific needs, or help draft the services agreement, their expert legal advice will make sure your business concept will smoothly translate into reality.
Good legal guidance is your shortcut to professional achievement, so don’t take the DIY approach – it will end up costing you more hassle, time and money.
They Protect You From Your Mistakes
While you may not be a complete rookie, setting up your own startup is probably a new situation for you. And as in all new situations, one is prone to mistakes. On the other hand, there are truly outstanding lawyers who have already worked with a lot of startup owners and businessmen in general, and have therefore accumulated oodles of priceless experience and acumen you get to benefit from. Please note: when looking for the right lawyer for your startup, it is absolutely crucial you ask about their level of experience and their familiarity with your industry.
Whatever you’re facing, chances are your lawyer has seen it before, and knows exactly where you could go wrong, or what opportunities you could miss – and is here to bring your attention to it! Bullets dodged, breaks caught, what more could you ask for?
They Free Up Your Time And Focus
And lastly, it is worth following expert legal advice simply because it will clear up the way for you to deal with the core issues of your business. With the peace of mind that comes with knowing your legal matters are in line and your company is well-protected within the bounds of law, you won’t scatter the valuable time or energy on greasing the squeaky legal wheel. And as a consequence, you’ll be able to focus on what you came here to do in the first place – conquer your market, your audience, and eventually the world.
Final Words: Getting The Right Expert Legal Advice
Was this article helpful to you? If so, why not broaden your knowledge even further with our free ebook? For all you entrepreneurs going through the growing pains of a new business venture, we’ve compiled all our expert legal advice on business starting point.