Studies have shown that about 50 to 70% of startup businesses fail in their first 18 months due to many reasons, the most common of which is a lack of knowledge. Business owners fail because they do not have enough understanding of the intricacies of running a business and that includes the laws that surround it.
Business law deals with some legal disciplines that can get quite complicated for the non-professional.
The importance of hiring an attorney for your business
A business lawyer in Denver can help keep you out of trouble by helping you understand the legalities of owning and running a business. They can also give you solid legal advice that will keep you from making poor decisions and judgments that could harm your business.
Additionally, having a lawyer around can be handy in case some employees or prospective employees sue you for some reasons. Or when you find yourself in the center of a government investigation because of supposedly violating some law or two.
You will also need the assistance of a lawyer when you want to sell your company or when you want to acquire another property or business.
When to hire a business attorney
Most business owners would only hire an attorney when they face charges in court, but that might already be too late. Aside from the headache of suddenly needing to find a good lawyer, you will also need to pay higher fees.
An attorney’s fee is inevitable, but once you are already neck deep in trouble, your lawyer will charge you way more than just keeping you off trouble. Furthermore, rushing to find yourself a lawyer can backfire because you may no longer have the time to do a thorough background check on them.
Having a business attorney by your side since the start of your business can give you a lot of insight into the business world. It can also save you from making mistakes that could potentially destroy everything you have worked so hard for.