The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

Should I have a lawyer on hand for my small business?

In what capacity does a small business typically need a laywer, for everyday running of the business?

Phillip Yopp

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., "www.mywebsite.com"

Review Community Guidelines

Help keep our Community clean and on topic. The BizBuySell Community is a place where you can discuss your questions, concerns and knowledge with others you can trust. It is not OK to use this forum to solicit others for personal or financial gain, or to rant about personal issues. It's all in the guidelines.

Submit Your Answer
Answers (5)
No User Photo

We are financial consultants to a group of investors whom we have their consent to manage their funds which is in our custody for cooperation in joint venture business investments.

Our areas of interest include Property Development and real estate, Health Care, Education and training, Mining and exploration, Energy, oil and gas,Technology, Software development, Agriculture, Manufacturing, Finance Services and Leisure.However, all viable proposals within reason will be considered.

Funds shall be made available to you as a direct investment loan at 3% interest rate per annual for a period of 2 or 30 years depending on what you prefer. You may contact us if you have interesting investment proposal for possible business collaboration for our study.

We look forward to your reply to enable us provide you with details or you may visit our website.

Kindly acknowledge receipt of email.

Thank you.

Yours Sincerely
Jesse Peterson
phone: (980) 239-7539
email: info@interventionmortgagefirm.com
web: http://www.interventionmortgagefirm.com/

Jun 13, 2017
Robert Cutler
Attorney
New York County, NY

Phillip, I'm not sure if any of the previous posts really answer your question. If I understand you correctly, you're not asking whether it is important to have access to legal counsel, but rather you want to know whether you need the services of a lawyer in order to carry out the day-to-day functions of your business. The answer really depends on the type of business you are conducting. In most cases, lawyers do not get involved in the operational aspects of the business expect to the extent of reviewing and drafting contracts and keeping the corporate books. But if you are looking to take some action outside the ordinary course of business (e.g. obtain financing, sell your business, buy a new business, dissolve a legal entity, file or defend a legal action etc) you will certainly need a lawyer for that purpose. I would recommend that you retain a lawyer before you even start your business and provide him or her with your business plan so he or she can evaluate your legal needs and make sure that everything is done properly from the beginning.

If you would like to discuss in more detail, feel free to send me an email - mrdunhill2000@yahoo.com.

Jan 6, 2010
No User Photo
Go Small Biz (Pre-Paid Legal, Inc.)
Independent Associate/Director
AZ

Access to an attorney is essential! The problem is can you afford one. It is estimated that it will cost you at least $30,000 or more to defend yourself in court if you were ever sued, even if you were not at fault.
If you want the peace of mind of having an attorney without the large price tag, visit www.prepaidlegal.com/hub/su10. I wish I had this service when I had my business (Gift Basket & Balloon Delivery business I ran for 16 yrs).

Nov 10, 2009
Douglas Batts
Murphy Business & Financial Corporation
Collin County, TX
Premium Broker

Phillip, I can't imagine running a business without having access to good legal counsel. A business owner will need counsel and definitely needs to be able to ask what if to avoid legal tangles. There are quality, low cost options available from Pre-Paid Legal Services, offering unlimited legal counsel, which I both use and market. For more details see a short 2 minute video at https://www.prepaidlegal.com/Multisite/Multisite?site=biz&assoc=batts_d . I use mine about 2-3 times per month for everything from no additional cost contract reviews and having them write collection letters.

May 25, 2009
No User Photo
California Business Development Center
Sonoma County, CA

An attorney is as important, if not more so than a CPA. It is not only what you don't know that can hurt you...it is also what you think is so, that isn't so, that can really hurt you. Find a good Texas attorney who has a focus on business law and "get conected"..it is one of those things that may save your business.

Apr 2, 2009

Start a Discussion