ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Is It Worth the Cost of Retaining a Lawyer for Your Small Business?

Updated on October 21, 2010

You've started a small business. Maybe it's a single-person freelance company, perhaps it's an LLC partnership or maybe you got together with a group of friends and started your own company. Whatever the case, you're a professional company but you're still little and you aren't quite used to treating the work that you're doing professionally. You don't have an accountant because you can handle your small payroll yourself and you don't have a secretary because it's not cost-effective to have someone else taking your calls.

But you also know that there are a lot of things about small business that you don't know as well as you need to and you're wondering if there are legal issues that you're toeing the line about. Should you consult an attorney? Or should you do more than just consult and actually retain an attorney to deal with the regular legal complications which may come up during the operation and growth of your small business? You probably should. Let's take a look at why.

Small business attorneys double-check that you've got all of your legal details in order so that you don't have issues down the line with the law or with your business partners. Let's face it; companies get dissolved and things get ugly. Employees get disgruntled and want to take action. And even if you and your business partners and employees never have a single problem with one another, your business still may draw the attention of the law because of issues with taxes, environmental violations or even minor paper filing discrepancies. If you had a lawyer handling the details all along, your business documents will be in order so that problems can be handled as cleanly as possible whenever they come up.

Yes, a small business lawyer can put a dent in the budget of your company. But legal hassles down the line can actually be far more expensive - in terms of both actual cost and the effects of unplanned-for cost - than is the regular allotment of a portion of a business budget for retaining a lawyer. Do your research in advance to find a small business lawyer who has the knowledge that you'll need to handle issues which might come up in your company (environmental legalities if you dispose of toxic waste, sexual harassment problems if you employ a staff, and in-house legal issues like taxes and drawing up of documents). Discuss retainer fees and hourly rates with attorneys before selecting the one that is right for your small business.

In the end, it doesn't matter how small or large your company might be; legal problems can come up. They are always draining - emotionally and financially - for the people who are involved. But you can offset some of the stress and a portion of the costs by allocating part of your budget to retain a small business lawyer. It's simply one of those cases where you'd probably rather have the lawyer and not need him than need him and not have him.

Comments

Submit a Comment

  • profile image

    mailmike 

    8 years ago

    Well written page and some valuable information.

  • TexasLawyer profile image

    TexasLawyer 

    9 years ago from Austin, Texas

    Can't tell you how many clients have been penny wise and pound foolish, hiring a lawyer after the cow left the barn (mixing too many metaphors).

working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)