Why Small Business Owners Need an Attorney

Serving Waukegan, Libertyville, Lake County, Gurnee & nearby areas of Illinois

When operating a small business, you need a support team of professionals.  Most owners will automatically retain a CPA or tax adviser to help them deal with the financial aspects of the business.  A business attorney should also be a part of your team.  The costs associated with hiring a good law firm will save you money in the long run and will help provide you with peace of mind.

Some of the things you should have a lawyer assist you with:

How to Structure Your Business:  You have a lot of options available to you: corporation, limited liability company, partnership.  Depending on the number of owners and how they are related to one another, the best structure for you may not be the one you are leaning toward.  Your lawyer can explain the different options to you and the benefits and limitations of each.

Employment issues: Any business that hires people is going to eventually run in to some issues.  Your attorney can help you deal with matters like employment contracts for key employees, no compete and confidentiality agreements and unemployment and discrimination claims.

Contracts: Contracts with your vendors and your customers will have a direct and lasting impact on the profitability of your business.  A good lawyer can make sure you are protected with negotiating the terms.

Purchase and Sale Agreements:  Your business is likely the largest asset you own.  When buying or selling assets or some or all of your business, make sure you hire an attorney to protect your interests.

Succession Planning:  What will happen to your business if you become disabled or die?  Will your family and your partners be protected?  None of us lives forever.  You need to plan now for the future.

Every small business owner needs an attorney.  Feel free to contact us to see how we can assist you.

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