Any business owner should have a business litigation lawyer in their back pocket. There are several reasons this is important. Owning a business is a significant investment; business owners will put considerable time, money, and dedication into the company they have formed. Because of this, all business owners want to ensure the success of their business. Forming and operating a business will require owners to make several legal decisions to ensure its success and protection. The reality behind owning a business is that, despite careful planning and smooth operations, a company can still face legal issues throughout its lifetime. When a business owner is unprepared, their business could be at risk for many exposures. Eric Siegel Law can help business owners prevent and mitigate legal issues so that their businesses can remain successful for years in the future. The following are common questions business owners may have regarding their business and potential legal entanglements they may contend with.
What is business litigation?
At any point during business operations, owners may face legal issues that they must properly manage. Business litigation is the process of managing and resolving disputes that arise for businesses. Business litigation is a complex area of the law that can involve nearly any legal dispute that may occur within a company. While sometimes legal issues can be resolved outside of the courtroom through negotiation, disputes may become so severe that they require litigation, which can be time-consuming and costly.
What are common types of legal entanglements that a business may face?
Most companies within the US are small to medium-sized, and only about half of these businesses survive in their first five years. Many of these businesses face legal issues of some kind throughout their lifetime. Our Washington, DC business litigation lawyer will share that while some issues are minor and can be quickly resolved, others may be far more extensive, requiring a legal professional. Common types of legal matters for businesses include:
- Improper business formation
- Issues related to employees
- Employee classification
- Wrongful Termination
- Overtime Disputes
- Intellectual Property Disputes
- Personal Injury Claims
Why is a lawyer critical to resolve legal issues for businesses?
Company leaders should engage a lawyer from the very start to ensure that the business is properly formed. Some businesses are large enough to need a full-time lawyer on their team, others may have a lawyer on retainer, while some may only need to contact a lawyer as situations arise. A lawyer can play a crucial role in helping meet business objectives and protecting the company from legal issues. In addition, reaching out to a lawyer early on when faced with potential problems can help to prevent legal issues from becoming costly, time-consuming, severe, and impactful.
What impact could legal issues have on a business?
There are several ways that legal entanglements can impact a business. When these issues are not properly managed, they can ultimately mean the business’s downfall. Legal matters can bankrupt companies, tarnish their reputations, impact sales, and more. Unfortunately, issues that are not resolved promptly can force business owners to make difficult decisions down the road.
Don’t wait for legal issues to arise; contact Eric Siegel Law so that we can begin providing the legal support your business requires.