Thursday, October 27, 2016

5 Ways a Business Lawyer Can Save Your Company Money

Running a business involves a lot of legalities that have to be fulfilled. The opening of a business requires one to have the documentation right from the get-go. 

There are different forms to be filled that satisfy the local authorities in order to obtain a permit to run the business. 

Tax return forms also need to be filled in accordance with the law.

Keeping up with all this in addition to trying to run a profitable business can be daunting. A business lawyer comes in handy in situations like these. 

The lawyer will fulfill the legal requirements on your behalf and makes sure that your business is running on the legit. 

Below are five ways in which a lawyer can save your company.

1. They take the cases out of your hands

Sometimes, some cases crop up in your workplace; for instance, theft or a robbery. 

The reporting and investigations can take up much of your time and energy, leaving you drained during a disaster. 

Your core business suffers as a result, and it could also cost a lot when you are not sure about the procedures to be followed. 

It is much cheaper to have a lawyer who has the experience to represent the company and ensure that your claims get settled on time.

2. Follow-up with the insurers

Insurers will always tell you that you should not admit liability. Sometimes, however, it is hard to get them to pay your claims on time. 

You end up wasting a lot of time and valuable resources following on issues that can easily be sorted by your lawyer.

3. Opening accounts and company registrations

As a business owner, you might wish to open other new ventures or merge with the existing ones. 

To be able to do this, one has to have extensive knowledge of agreements and be able to read through clauses that bring the two companies together. 

Having a business lawyer from a firm like Strauss Troy can be of great help, as they will lead you out of the murky waters of the legal jargon.

4. Business resolutions

If your company is a large corporation that often requires that resolutions are made and revised, it is an excellent idea to use the services of a lawyer. 

Apart from the fact that they are experts, they act as third parties and can see things from a different perspective, and hence advise accordingly.

5. When you are sued

As a business person, you can be sued for compliance or other issues. You could be handling products that are not up to standard or your employees are claiming for compensations. 

All these are distractions costing you money and valuable time. A lawyer comes in handy to save your business, as well as make sure your business is up to par on standards in the first place.

Having a business lawyer is quite beneficial to business. You can always refer any legal issue to their office without delay, and it will get handled before it grows out of hand. 

They are cheap in the long run; a lawyer could save you over 100 dollars annually when calculated regarding real cash and time saved.

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