Having a business comes with a lot of responsibilities, and sometimes may feel extremely stressful, especially if the structure hasn’t been set up in the right way. It can happen that the business grows overnight and if the organization hasn’t adapted to that, many legal consequences would follow. All of this prevents the business operations from going smooth, and that’s not how things are supposed to be.
To make sure all is going the way it’s supposed to, having a legal advisor is a smart decision or even a must. If by now you wanted to save money by not hiring one, think again and read all the benefits hiring one will bring you, stated in the rest of the article.
1. Having a legal advisor allows you to focus on other important things
Applying and interpreting rules and regulations in practice often causes confusion, and frequent loss of direction because running a business requires numerous regulations every day related to the specific activity in which the company is engaged.
We’re talking labor law, tax, and numerous other obligations a business has towards competent authorities, which sometimes, if not applied correctly can result in a court dispute.
Having a legal advisor prepares the terrain in your company for easy application of regulations. Moreover, it allows you to have direct communication with legal experts whenever there is a need to remove doubts, make work easier, so you can focus on your business.
To sum up, a legal advisor offers specialized services for the application of regulations in companies, adapting the program to the needs of each individual business and allowing direct communication with the legal experts. To read more about the services you’ll get having a legal advisor, click here.
2. Collecting claims is way easier
One of the biggest problems in running a local or international business is the increasing inability to collect claims. Debtors are something inevitable, and not being able to collect claims from debtors can shake the foundations of even the healthiest business. Worst case scenario, it can lead to the illiquidity of creditors, and even to bankruptcy.
Precisely in such difficult-to-collect claims, the advantage of hiring a legal advisor with extensive experience is reflected in the ease of overcoming all difficulties and the successful implementation of the collection procedure for the creditor.
Another advantage of hiring an advisor is the ability to handle a large number of cases at the same time! This advantage is particularly important given the impending statute of limitations where urgent action is a key element.
3. Having a piece of good advice in any branch of law
Another one of the best benefits of hiring such an advisor is having someone who can give you advice regardless of the branch of law. In a way, you’re hiring a couple of advisors in one. Keep in mind that rules and regulations regarding law implementation tend to change every now and then.
Having someone who is always up to date with this, takes a lot of burden off your back. Moreover, every piece of advice given is personalized, relevant for your issues which guarantees there will be no wondering or doubting.
4. Preventing potential problems
Many would say that this type of help is needed only when there is something to be fixed, however, hiring legal help aims to prevent issues from happening. Meaning, having someone who is always ten steps ahead and who can predict things that may happen before they actually do.
Hiring an advisor only when the problem arises costs more, and the stress of dealing with an issue is simply not worth it. A legal advisor is needed from the start. Think of it as a risk prevention strategy. Even if the risk happens, rest assured you have someone capable of dealing with it, on your side.
Making sure you have someone to turn to whenever you are surrounded by question marks is priceless. And a serious and smart business will always make sure people of different backgrounds when it comes to expertise are available to help whenever there’s a need. Hiring a legal advisor covers pretty much all the legal issues your business may face.
6. Interpretation of legislations, contracts, etc.
Language law uses can be confusing and difficult to understand. Most of the time it can feel as if lawyers and legal advisors are the only people who are able to understand it. It is completely normal not to be able to understand, however, in terms of business, one needs to understand in order to avoid the consequences of false interpretation.
If the contract you’re about to sign with someone is not understandable, your business may be at risk of tying the knot with someone without knowing the consequences. The cure for this is rather obvious – hire someone who is able to understand and interpret all legislation and contracts your business will be exposed to.
7. Drafting of legal documents
Knowing which elements different documents like contracts and memorandums have to have is not something you should be concerned about. It’s the job of a legal advisor.
Running any kind of business requires tons of contracts for employees, procurement, utilities, and so many others, each requiring a different form. Knowing the right one saves, again, time and makes sure no consequences will be suffered (i.e. lawsuits).
8. Making sure your intellectual property is safe
So many things are designed and invented in the companies, that need to be protected from those who want to use them for their benefit. By this, we mean logos, services, business secrets, and many other things that fall into the category of intellectual property.
A legal advisor will know what are the elements that need to be protected and how it is supposed to be done. For all the reasons stated above, and many more that could be mentioned, having a legal advisor is more than a good idea. It is a guarantee of doing business in a legal way.