Achieving consistent business growth is likely the primary goal of every entrepreneur and business owner. While expansion opens doors to new opportunities for your business, it also comes with problems that might hinder sustainable business growth. This can include issues with intellectual property, legal problems, compliance, contracts, and more. If ignored, these issues could have a devastating impact on the long-term success of your company.
It’s critical to be prepared for the common pitfalls and obstacles that might come up on your path to achieving long-term business growth and success. This means having preventative measures in place, for instance, hiring an experienced attorney for your business to help build a solid legal foundation for your company. This can go a long way in helping you to overcome the different obstacles to expanding and growing your business. Here are some of the ways a business attorney can help protect your business and achieve sustainable growth:
1. Protect Your Intellectual property
For your business to stand out from the competition and achieve growth, you need to prevent the theft of your intellectual property. A business attorney can advise on the different types of intellectual property your business may need to safeguard its assets. Protecting your intellectual property assets can help safeguard your brand’s identity, building loyal customers and recognition, creating valuable assets, creating an emotional connection, and preventing competitors from stealing your customers.
Your business lawyer prevents infringement of your innovations by drafting relevant applications required to file trademarks, copyrights, and patents. They also protect your business from accidental infringement by ensuring you don’t violate existing trademarks, patents, and copyrights.
2. Employment Agreements
As your business grows, you’ll need to hire more people to assist you. However, due to the ever-changing employment and labor laws, staying compliant can be difficult. A business attorney usually keeps up with the changes and can help you draft important and mandatory employment documents like contracts, non-disclosure agreements, and non-solicit and non-compete agreements.
They also help draft your company’s employee handbook detailing employment terms, policies, compensation, and additional benefits specifications. This ensures your compliance with the current employment laws regarding safety standards, employee relations, and workplace policies. Professionally drafted employment contracts can prevent issues during the employee’s term, such as undue termination, and protect your business against lawsuits from former employees.
3. Managing Litigation and Dispute
Disputes are bound to occur irrespective of how well you run your business. Without legal assistance, disputes can sometimes lead to costly lawsuits, harming your company’s reputation and bottom line. Common business disputes include breach of contract, non-compete agreement violations, employment disputes, and property disputes. A business lawyer can provide you with the legal assistance you need to deal with any minor or complex legal disputes. This helps reduce the chance of going to trial in court. However, they can also represent you in litigation if you’re involved in a lawsuit.
Hiring a business attorney is crucial regardless of the stage you are in growing your business. Instead of waiting until disputes arise to seek legal assistance, finding the right business attorney from the start can help build the robust legal foundation you need to overcome obstacles on your path to long-term business success. Your lawyer will also protect and defend you against legal disputes, compliance issues, intellectual property infringement, and lawsuits, helping your business achieve long-term success and growth.