Here’s an interesting – and rather alarming – fact. 90% of all businesses in the US face litigation at one time or another. There are so many issues that can crop up – dissatisfied customers, dissatisfied employees, problems with suppliers, breach of contracts, injuries while on the job or the premises of a business – the list is endless.

You would think that litigation of these types would be restricted to the large conglomerates – the giants. However, surprisingly, 43% of small business owners also face a lawsuit at some point in the lives of their businesses.

Having an in-house legal department or at least a lawyer on your payroll can make a difference. Here’s why:

Mitigation of Damage

If your business is being sued, and you do not have a lawyer, you could end up losing your entire business due to the financial setback you suffer. A lawyer can help mitigate or lessen the damage done by the lawsuit, which could end up saving your business.

Protection Against Lawsuits

Instead of waiting for a lawsuit to pin you down, it is better to hire a lawyer – especially a commercial litigation lawyer – beforehand. You should have a lawyer in place before your business even takes off.

Lawyers can help you navigate your business safely through the rough seas of business law. They can advise you of not just your legal rights, but also your legal obligations. This way, they can help you stay away from lawsuits and help your business thrive.

Protection Against Personal Injury Lawsuits

You would be surprised at how many businesses end up being sued for personal injuries if customers or employees get injured while on your premises. Such lawsuits are particularly harmful as they directly impact your reputation and credibility.

An excellent personal injury attorney can help you understand how to stay away from such crippling lawsuits. It is required by the law to ensure that your business premises are safe for both customers and employees.

Drafting Contracts

Drafting and signing a business contract of any sort without having a lawyer first go through is one of the most basic mistakes many small business owners make. There are legal loopholes that you may not be aware of that can get you into a whole lot of trouble later on. Without a lawyer to advise you, you could end up losing a lot more than just your money.

Incorporating Your Business

The process of incorporating your business is not just about filling in the paperwork, handing over a check, and receiving your incorporation certificate. A good lawyer who understands business law can help you navigate the tons of legal jargon and necessities you need to go through before you get your incorporation certificate.

Compliance with Laws

There are differences in Federal and State laws, and each set of laws have their procedures. So, if you’re planning to expand your small business across state lines, or even internationally, there are a whole lot of regulations you need to comply with. This is where a commercial lawyer can help you out.

Employee Concerns

Having a lawyer present to help you with employee issues ensures that you don’t have to face any embarrassing or damaging litigation down the line. Right from hiring a new employee to maintaining current employees, a good lawyer will help you stay away from any legal blunders.

Getting a good lawyer can make all the difference to your company. However, you need to remember that to get an honest lawyer; you also need to be an honest client.