Whether your company is in its fledgling first few years or it is firmly established, there are going to be legal hiccups. Companies face a whole whack of legal issues, as varied and specific as the business landscape itself, which is why you need a business attorney to help identify and oversee legal issues as they arise. Integral to good business decisions, general legal counsel will help ensure that all business practices are carried out openly and honestly, making for a well functioning, above board company primed for success. But what exactly do they help with? Here are three ways – by no means the only three – that general counsel can help your company.
Commonly referred to by its acronym “IP”, Intellectual Property includes all trademarks, copyrights and patents – in short, all intangible human creations that are legally protected. Your company might need to protect the unique ways it does business, or perhaps acquire an IP
through a licensing agreement (to use another person’s legal property). You might need advice on whether patent registration is required, or how long protections last for a patent.
There is a myriad of legal minutiae that surrounds intellectual property, as it pertains to business, and to make sense of it all you need general counsel. For the business that is looking for only short-term legal counsel, however, to address issues of intellectual property, you might want to visit LexLocom online, a large database of legal expertise, where you can find inexpensive legal counsel for as long as you need it. The benefit of doing it this way, especially for something as complex and niche as Intellectual Property law, is that, since you’re pulling
from a massive database, you can hire a highly specialized lawyer for counsel.
Contract negotiations are the linchpin (and headache) of any successful business, and having legal counsel on hand to help draft contracts, manage negotiations and review contracts you receive is absolutely critical. Working with legal counsel in the drafting process of a contract,
going through clause-by-clause to ensure that it’s ironclad in what you require, will save you a lot of trouble down the line. Having legal counsel on hand for the negotiation process will help you mitigate risk and get the best possible deal. And having legal counsel on hand for the reviewing process is just smart business practice – with potentially a lot of money on the line, it is prudent to have a legal specialist’s eyes on any contract.
If you’re looking at a potential target for acquisition or merger, you need legal counsel to do due diligence – that is, investigating how to structure the acquisition and undergoing the necessary audits. There are a lot of areas and facets to consider in either a merger or an acquisition, and legal counsel will prove to be an indispensable guide throughout. As with intellectual property, you may choose to hire short-term legal counsel for this process, and if you do so, you’ll want to go through a reputable legal outsourcing firm.
For these reasons and a number of others, your company should consider hiring legal counsel.