Thursday, March 23

When Should a Business Seek Legal Advice?

During its lifetime a business may face legal challenges. Whether you’re just starting your own business or thinking of making changes to your current one, it’s vital that you’re prepared and protected. There are certain situations where you won’t have the required knowledge to help your business. When you should seek legal advice? 

Environmental Improvements 

Industries across the globe are making sustainability a priority. In the not so far off future, we could see a change in regulations across a variety of sectors to ensure businesses are doing their part to help the environment. You may want to gain advice from experts who know the changes you need to make and what you need to prioritise. International law firms in London can help answer any legal queries you have so your company can start making a difference. 

Establishing / Expanding

Legal advice can help your business progress to the next level. If you are starting your business a solicitor can help ensure you’ve got the correct paperwork, including licences and insurance. Something that is dismissed early on can catch you out years down the line. Solicitors can also help you establish shareholder agreements. As well as assist you further down the line with organising your shares. Solicitors can help you establish, and expand your business. 

Protect Intellectual Property 

As a business owner, you want to ensure that your intellectual property is protected. There are different types of protection, and it depends on what you’ve created. For instance, you may have to apply for a trademark, a patent, or a registered design.  In the UK, these application processes take varying lengths of time. For instance, a patent could take up to five years but a registered design takes one month. You may also need more than one form of protection. Expert help can help you get the right kind of protection. 

Contract Management 

A well-written contract should be designed to help all parties involved.  Contract management comes in many forms. It’s required in both the public and private sectors and touches on many different factors. From a relationship with a new client to complex legal frameworks.  Contract management can be a lengthy process. You may require legal assistance to ensure your business contracts are lawful and effective.

No matter what stage a business in, legal advice is a useful tool to help it function with both its interior and exterior frameworks. What are other times a business should seek legal advice? 

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