Bankrupt Proof Your Business: Cover Your A$$ets!
The best way to Cover Your A$$ets while in business is by having an Attorney on retainer. Every Small Business Owner should have an Attorney on their Business Dream Team.
Here are five reasons why an Attorney is “good for business”:
1. A lawyer can help you properly set up your business as a legal entity like a Corporation or Limited Liability Company. The Attorney will help you determine the best legal entity for your business by weighing the pros and cons of each business entity. “A business attorney can help you understand not only the process of becoming incorporated, but also how the company must be operated. From taxes to liability, attorneys can help keep your business on the right track.” Source: https://www.bf-law.com/4-benefits-hiring-business-attorney/ Also, being incorporated as a legal business entity provides the business owner with a shield of protection when it comes to their personal assets vs. business assets.
2. When a Small Business has an Attorney on retainer, the Business Owner ensures that they are ready and prepared for any legal issues that may come up in the future. With an Attorney on record for one’s business, the Owner is ready to handle the “what ifs” that may occur in small business ownership.
3. Every Business Owner should have an Attorney on retainer when it comes to writing and reviewing business contracts. “Among the business matters that lawyers are usually hired for are negotiating and reviewing legally binding agreements. There are various contracts that business owners may enter into ranging from lease to partnership agreements. It is advisable to seek legal help whenever you want to review and negotiate a contract that pertains to your business. Lawyers can protect you from the potentially adverse legal consequences of bad contracts. Their job includes ensuring that your business interests and legal rights are protected.” Source: https://wall-street.com/business-law-importance-hiring-lawyer-business/#:~:text=Lawyers%20can%20protect%20you%20from,ideal%20terms%20for%20your%20company.
4. It is advisable to invest in the services of a Lawyer in the startup phase of your business because you will save yourself time, money, and headaches. If you wait until something happens, like a lawsuit filed by a disgruntle customer or employee, then you have to spend more money for Lawyer Fees and you will have a big headache due to worrying over the situation (lawsuit). “Most small businesses put off hiring a lawyer until the sheriff is standing at the door serving them with a summons. Bad mistake. The time to hook up with a good business lawyer is before you are sued. Once you have been served with a summons and complaint, it's too late--the problem has already occurred, and it's just a question of how much you will have to pay (in court costs, attorneys' fees, settlements and other expenses) to get the problem resolved.” Source: https://www.entrepreneur.com/article/58326
5. Every Small Business Owner must understand that hiring an Attorney at the start of your business just makes good business sense. Having a Lawyer on your Business Dream Team from the start ensures that your Small Business is sustainable for a long time.
Donya Zimmerman’s alter ego is the Powerful Biz Woman. The Powerful Biz Woman mission is to encourage and educate women 35 years old and older to become the CEO of their own lifestyle through business ownership. She is a business educator, author, show host, and public speaker. Donya has created the Powerful Biz Chat Live Show that airs on Facebook Live. Donya discusses everything Business Startup and Entrepreneurial Mindset. Powerful Biz Chat Live airs three times a week at 800 pm. Donya has started a movement, along with her business partner, Alina Lopez Thomas, the Ultimate Biz Conference. The mission of the Conference is to educate aspiring entrepreneurs and small businesses on how to cover their a$$ets while in business. For more information on The Ultimate Biz Conference, subscribe to www.ultimatebizconference.com to stay up to date on UBC events.
If you are looking for a speaker for your next event, then contact the Powerful Biz Woman (Donya Zimmerman) at firstname.lastname@example.org; 443-635-4557; or Https://www.facebook.com/PowerfulBizWoman. The Powerful Biz Woman will be a great asset to your next event.