2020 has been a TOUGH year on small businesses. The COVID-19 pandemic has affected everyone in one way or another, but some small businesses have really struggled. Our business attorneys at the Lake of the Ozarks want you to know we will get through this together. That being said, some small businesses have actually thrived during this pandemic. Keep reading this week's blog for a few ways an experienced Missouri business attorney can help your small business. If you end up having any questions or would like some legal assistance with your small business, please give us a call today. Gibbons Law Firm can be reached at 573-348-2211 for your free consultation.
The Helpful Benefits of Hiring an Experienced Business Attorney
AN EXPERIENCED BUSINESS ATTORNEY CAN HELP YOU...
ESTABLISH A SUCCESSION PLAN.
If you are starting up a business, exiting the business is likely the last thing on your mind. Even if it is years down the road, it's important to put this type of succession plan in place. A lawyer can help you iron out the details as to who will gain ownership, who will carry out the day to day activities, and/or how your succession will play out. It's also important to have documentation in writing for whoever will be taking over down the road. This day may be here before you know it and it's easier to have everything documented ahead of time, especially if the takeover is sudden and unexpected.
AVOID A POTENTIAL LAWSUIT FROM AN EMPLOYEE.
Employment can be a very sensitive subject. Many small businesses will hire on a family member or friend and skip over the formal hiring documentation. Avoid skipping the legal stuff when it comes to hiring employees - even if it is a friend or family member pitching in and helping. Hiring someone is a professional process and should be treated as such with the proper documentation. These documents can help save your business from a potential lawsuit, down the road. Any hiring and firing should be fully documented.
DETERMINE WHAT TYPE OF BUSINESS YOURS WILL BE.
As you create your small business, it's important to have the proper documentation in place. A number of legal decisions will need to be made as you gear up for your venture. Deciding what type of corporation is the first big decision that will need to be made. A lawyer can help advise you as to which option is the best fit for your unique personal and business situation.
MAKE SURE YOUR LEGAL DOCUMENTS ARE CORRECT.
As you run your business, you will come across the need for a ton of documentation - even on a daily basis. It's important to have that go-to person to review your legal documents before you or someone else signs them. Any contracts you put together should be reviewed and you should have a legal advisor take a look at any documentation before you sign your name or business name. It's best to have a lawyer look at this kind of document before, instead of asking questions after the fact.
Are You Ready To Hire An Experienced Local Business Attorney To Help Your Small Business?
All of us here at Gibbons Law Firm hope you found this blog enlightening and helpful as a small business owner. If you have any questions about our business attorney services or would like to schedule a consultation, please give us a call at the phone number listed below. Your first consultation is free. Be sure to follow us on our social media channels listed below to stay up to date on our latest announcements.