Running a small business can be an exciting and rewarding experience. For many, it’s like turning a dream into a reality. But remember that managing a small business comes with a fair share of stress, challenges and legal complexities.
Some people are sceptical about whether a business lawyer can add value to their business. You too might be wondering what a business lawyer can do to help you.
Well, an experienced business lawyer can in fact help their business in multiple and quite essential ways, from legal research to resolving business litigation disputes.
To find the best business lawyers, search for the term business lawyer near me on your search browser.
But before that, this article will help to explain what small business lawyers are and exactly how they can help small business owners.
A small business lawyer is experienced and qualified to provide legal advice and assistance to small businesses. They are specifically trained to help small business owners commence their startups, navigate legal complexities, achieve their goals, and comply with Australian law.
A professional business lawyer will always provide legal advice and the best solutions tailored to the client’s needs and goals.
They help entrepreneurs minimise legal risks associated with running a small business, letting entrepreneurs focus on running and growing their business without worrying if they’ve ticked every legal box.
Here is how a business lawyer can help your small business:
Before commencing a business, you have to make several critical decisions and comply with multiple legal requirements.
Is it better to set your business up as a partnership, sole proprietorship, privately owned corporation, or other entity type? How do you register your business name in Australia?
An experienced business lawyercan help you navigate these vital questions as you formally set up your business. And make sure cover each step correctly. They can assist you with the following mentioned business formation aspects:
- Choosing the correct type of entity for your small business.
- Advise on personal liability protections and tax implications.
- Draft and lodge necessary documents.
- Apply for an ABN.
- Provide valuable legal advice and counselling.
Many of you might wonder, “How do I find a reputed business lawyer near me?”Well, first search online for “Business lawyer near me”. After you shortlist a few law firms, ensure to do some background research, and book a session to discuss your business goals.
Regardless of the country, the legal landscape is complex and constantly changing. Small business owners neither have the time nor the expertise to keep up with all legal laws, regulations, compulsory standards, codes of conduct and other requirements applying to various business types in Australia.
However, failure to comply with necessary legal requirements can seriously affect your business. Some violations of laws and regulations can make you personally liable, potentially risking your personal assets.
A small business lawyer is well-versed with updated Australian commercial law and, thus, can familiarise you with your legal obligations and make sure you comply with the law correctly.
For example, your lawyer can advise you on classifying your employees and contractors in relation to modern awards and enterprise agreements to avoid legal liability due to misclassification problems.
In addition, they can help protect your assets by guiding you to set up the business in a way that differentiates and protects your assets from business liabilities.
Drafting legal documents for small business owners without legal training or experience can be challenging. They mostly do not know the legal terminology and procedures for drafting legal documents for businesses.
Moreover, you might find it difficult to understand the legal implications of the language used in agreements, contracts, and policies, causing confusion or uncertainty about your rights and obligations. And who has the time to go through it all?
Your lawyer can help in drafting, reviewing and advising about various legal documents, including letters of intent, contracts, other forms of agreements between buyers and sellers.
They ensure these documents contain all necessary legal provisions to protect your business interests and comply with Australian commercial law and other applicable laws.
Litigation can turn out to be difficult and stressful for small businesses. Court proceedings can arise from many situations, such as contract disputes, regulatory violations, employee disputes and so on.
Such proceedings are not only costly, stressful, and time-consuming but can also tarnish your business reputation or even destroy your business.
A small business lawyer can help resolve these disputes and avoid future litigations in many ways. First, lawyers review the case to assess how strong the other party’s claims are. It helps understand the other party’s legal position and potential liability.
Next, your lawyers can help develop a legal strategy to defend your company against the claims made by the other party.
It can include drafting legal responses, filing a defence, interlocutory motions and/or negotiating with the legal team of the party which has initiated the court proceedings. In addition, business lawyers are trained to represent their clients in court proceedings and advocate for their rights and interests.
Finally, a lawyer can explain your legal obligations and responsibilities during litigation. When you search for “business lawyer near me,” you can find several top-notch local law firms serving small businesses.
Discrimination in a company can take many forms, including gender, age, race, religion, and disability. Discriminatory behaviour prevailing in your businesses can lead to legal and financial consequences.
A business lawyer can help you create internal policies to prevent employee discrimination when running a business and get this set up from the get-go.
With their help, you can create policies and procedures to promote a diverse and inclusive workplace, including establishing clear guidelines for hiring, firing, disciplinary actions, promotions, and more.
Moreover, small business lawyers can advise you on how to deal with situations where employees are discriminated against. It might include investigating complaints, or taking remedial actions when necessary, etc.
Sexual harassment at the business premises is a serious issue that can result in costly lawsuits while tarnishing a business’s reputation.
Therefore, companies must take necessary steps to prevent sexual harassment in the workplace.
With the assistance of small business lawyers, you can set up proper sexual harassment prevention training programs for your employees.
This training program can include information on sexual harassment and how to report the incidents and handle the complaints.
Hiring a business lawyer with an in-depth understanding of Australian commercial law can be a wise choice for your small business. However, it’s crucial to ensure you make the most of your investment by working with a professional lawyer who has the expertise for your small business needs.
Determine what type of business lawyer you need to hire, such as a general, labour, tax, contract, or intellectual property lawyer. Moreover, remember to check the shortlisted lawyer’s fields of expertise and accreditations. Enjoy the benefits of having a business lawyer by your side.