5 REASONS WHY YOU NEED A BUSINESS LAW FIRM ON RETAINER
July 25, 2016
Business owners want to pinch pennies. That means if you’re a business owner thinking about retaining a law firm, you might be a little bit hesitant. What you might not know is that most businesses depend on lawyers constantly to protect them from . Running into legal trouble without having someone on your team can be bad news. Here are a few reasons you need to retain a law firm for your business.
1. They’re There When You Need Them.
You never know when you’re going to need legal advice. By putting a law firm on retainer, they’re going to be available absolutely whenever to give you the advice you need. Quick tip: you need to hire a law firm that specializes in many different types of business law with lots of different types of services to get the most out of retaining them.
2. You Don’t Have the Money for a Full-Time Lawyer
By putting an attorney on retainer, which means paying them a small amount on a regular basis to have them perform legal services for you when you need them, you are getting what may be a constant stream of legal work done without paying for a full-time lawyer. This can end up saving you upwards of hundreds of thousands of dollars per year.
3. You Have Constant Legal Work
Putting a law firm on retainer is not the best business decision if you only use one once every few years, but if you need one frequently, it’s time to start looking for a firm. Many businesses have constant legal work that they have to tend to; those are the situations where you need to have a law firm on retainer to get the job done for you.
4. You Need One Before You Get Sued
Don’t get caught putting off paying for an attorney until you get sued. Once the subpoena is being served, it’s already way too late. Now law firms can charge you as much as they want, because they know you need them. By having one on retainer before this happens, you’re getting a much better deal on the lawsuit, even if it doesn’t go well.
5. You Need to Protect Your Intellectual Property
If your business has thought of something new and innovative and you want to protect it, you need a lawyer that knows business law to protect your intellectual property. You don’t want others to get away with your idea, making millions while you’re left out in the dust. Intellectual property is an asset just like anything else in business, that means you should protect it like one.
You Need a Law Firm For Your Protection
That’s what it boils down to. You don’t want to be caught getting sued without having someone in your corner to back you up, and you don’t want your personal ideas stolen. By hiring an experienced law firm, you are giving yourself the confidence you need going forward that you and your employees are protected.