Starting a new business is an exciting experience, but it can also be overwhelming and stressful without the right support in place. Hiring a business contract lawyer to represent you as you build your business can benefit you in a variety of ways—the following are just a few ways a reliable business contract attorney can help you:
Safely Staff Your Business
Staffing your business with employees or contractors can be grueling, especially if you don't already have policies and procedures in place that will legally protect your company from fraud and financial loss. A business transaction lawyer can help you put together employment contracts that are legally binding to keep you and those you employ protected in case of a change in employment status or a firing. Your business transaction lawyer can also help ensure that your company is fully protected through the right insurance programs and that you're following all of the federal laws that pertain to the type of employees you want to staff your business with.
Sell Investors Some Equity
An excellent way to raise funds to grow your business is to sell off some equity to interested investors as time goes on. While selling equity can be risky, you can protect yourself through well-written contracts and reliable legal representation. Your lawyer will help you determine whether the risks you're taking when selling equity to a specific investor are worthwhile and ensure that you get the best deal possible when it comes time to negotiate pricing at the table. And an experienced business transaction lawyer will help you vet prospective investors to make sure that they have the same vision and expectations as you.
Enjoy the Profitability of Joint Ventures
Another way that a business transaction lawyer can help ensure success with your new business is to represent you when entering into joint ventures. Whether you're signing a contract to promote a certain brand in exchange for compensation or you've decided to manage a social media campaign with colleagues within your industry, a business transaction lawyer will pour through all the paperwork and details before you commit to anything. You can count on a business transaction lawyer to help settle disputes that may develop between you and parties you enter into joint ventures with before they end up in court.
Schedule a consultation with an experienced business transaction lawyer to learn more about how they can help your business succeed as it grows. Contact a law firm like Boynton Waldron Doleac Woodman to learn more.