Posted on: 3 January 2018Share
Many business owners do not have a lawyer on retainer. Instead, they may wait to hire one when they really think that they need one. However, having a lawyer on retainer at all times can be a good idea if you are a business owner. These are a few reasons why this is the case.
1. Avoid Being Hit with Retainer Fees at a Bad Time
First of all, if you wait to hire a lawyer until you realize that you need one, then you might find that you will be hit with retainer fees at the wrong time. If you go ahead and do it while things are good within your business, however, you can ensure that you have a lawyer on retainer and that the retainer fees have already been paid. This could be beneficial later on, such as if your business goes through a rough patch.
2. Get Legal Advice When You Need It
As a business owner, you might usually try to "wing it" when it comes to legal matters that don't seem like a big deal. However, if you have a lawyer on retainer, you will always have someone you can turn to when you need basic legal advice. This can help you ensure that you run your business in a legal manner and can help you avoid legal problems later on down the road.
3. Have a Legal Professional Who Knows You and Your Business
Establishing a good relationship with a legal professional now can be a good idea. Then, you can give the business lawyer a chance to get to know you and your business. Then, if you do end up needing legal assistance later on, you will not have to worry about working with an attorney who does not know what you and your company are about. Instead, you'll already have an established relationship with a legal professional.
As you can see, if you do not already have a small business attorney on retainer for your business, this might be something that you will want to consider. If you take your time to do your research about different small business lawyers who offer services in your area, then you can choose a lawyer who you can rely on. Then, you can talk to him or her about what you will need to do in order to have him or her on retainer for when you need his or her assistance.