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Should you work with an attorney when you're in business?

You may not be sure why you would need to work with an attorney when you want to buy or sell a business, but there are several reasons why. It is important to do so, because an attorney knows the ins and outs of exchanging businesses and property by law.

Yes, there are some things that you can do without an attorney. For example, you may be able to write a business plan without the help of your attorney. You may decide that you can work with an accountant or someone at the bank when you're designing your plan and go from there. Or, you might be able to reserve a domain name for your website or build your social media following on your own. You can apply for an employer identification number, licenses and permits as well.

There are dozens of things you may choose to do on your own, but there are some that you should get legal advice for. For instance, if you are negotiating the sale of your business or want to acquire part of another business and merge your two businesses together, it's in your best interest to work with a legal professional. You may also want to work with an attorney if you face a lawsuit or are facing environmental issues around your business.

Your attorney can help you stay on the right side of the law. With the right help, you can be sure that your business is built on a strong, legal foundation, so you can avoid lawsuits and other legal troubles.

Source: FindLaw, "When Do I Need a Business Lawyer for My Small Business?," accessed July 27, 2017

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