Engaging Your Lawyer Early is the Key to Getting Your Business Done!

Posted by Bray Dohrwardt | Feb 29, 2024 | 0 Comments

Running a business is challenging. Day-to-day activities keep you busy, and reacting to daily challenges can be exhausting. Getting business done requires agility and speed. Hiring a commercial lawyer may be the last thing on your mind, especially at the start of a deal when you are still working out the basic terms of an agreement. However, proactive legal support can save you time and money in the long run. Proactive legal support from the start of a deal can provide several benefits and protections to help you get business done with the confidence that you will achieve the benefits you envision.

Firstly, one of the critical responsibilities of commercial lawyers is ensuring that the deal is structured in a way that allows you to realize what you envisioned when you made the deal. Your lawyer will work closely with you to understand your deal as you expect it and will develop a legal strategy to achieve those objectives. This will help you avoid potential legal disputes and complications. Your lawyer should deeply understand your business, industry, and market. Your lawyer will review essential documents and contracts, identify potential risks, and negotiate terms that are favorable to your interests. Depending on the complexity of your deal, your lawyer can work closely with other professionals involved in the agreement, such as accountants, bankers, and other advisors, to ensure that all aspects of the deal are managed effectively. As a business leader, you should understand all the legal implications of the agreement, which can assist you in making informed decisions and avoiding costly mistakes.

Secondly, having a lawyer on your side can help you manage the legal aspects of the deal more effectively. Your lawyer can assist you in navigating complex legal procedures, drafting legal documents, and meeting all legal requirements. The problematic scenario is verbally agreeing to terms and learning those terms as you agreed to them cannot be met only after you've hired your attorney. Having your lawyer advising you from the beginning is critical to efficiency. It will save you and your team time you must regrettably spend trying to unwind an agreement that cannot be met. This can save you time and effort, allowing you to focus on other essential aspects of your business.

Thirdly, having a lawyer involved from the start of your deal can provide you with a valuable source of legal advice and guidance. For example, are you buying a business? What are your obligations concerning the seller's employees? What if there is a collective bargaining agreement in place? What if employees work remotely in several different states? Depending on your scenario, answers to these questions may become complicated and dramatically affect your deal. As a business leader, you should understand the complexities of your agreement and confidentially structure it to address issues before they become costly mistakes. Your lawyer can help you understand your rights and obligations and advise on protecting your interests. They can also assist you in anticipating and preparing for potential legal issues, which can help you avoid costly legal disputes.

Working with a lawyer involved from the start of a business deal can provide numerous benefits and protections that can be invaluable to your success. While it brings added expense, hiring a lawyer early can save you time, money, and stress in the long run. And, if costs are a gatekeeping factor, talk with your lawyer about alternative fee arrangements that help you avoid the unknown costs typically associated with hourly billing. So, if you're considering a business deal, consult an experienced lawyer to assist you in navigating the legal landscape and protect your interests. See the Dohrwardt Law Firm's Business Law page for more details on how the firm can help you get business done. Contact the Dohrwardt Law Firm today.  

The information provided is only for general information and is not meant to be legal advice.  Information on this website, including third-party links, may not include the most up-to-date information, so you should contact your attorney to discuss your particular matter. Third-party links are provided for convenience only and are not an endorsement by the Dohrwardt Law Firm.

About the Author

Bray Dohrwardt

As an accomplished attorney with over 22 years of experience, Bray Dohrwardt has built an impressive career, enabling business growth and commercial success for many companies from start-ups to large corporations and nonprofits. He focuses his practice on business law and energy law.


There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Bray Dohrwardt is Responsible For the Content of this website

Bray Dohrwardt is licensed to practice law in Minnesota and Texas. Please contact the Dohrwardt Law Firm to discuss how the firm can help you get business done.