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Having your day in court

When You Need to Call a Business Lawyer

by Beverley Lopez

As a businessperson, you may not need to call a business lawyer for every decision you make, but you should consult with such a professional before making certain decisions. Consulting with a business lawyer can help to ensure that you always protect the financial interests of your business as well as its legal interests. Note a few times when you may need to call a business lawyer and consult with them.

1. If you're buying a property with environmental issues

Getting an environmental survey done before buying any business with land can ensure that you know if there are environmental issues that you'll need to handle. This may include pollution or contamination, or conservation or other restrictions on that land.

Remember that, typically, the landowner is the one responsible for environmental cleanup or protection, even if the contamination was caused by a previous owner. Consult with an attorney before buying any property that a surveyor has noted may have environmental issues, so you can protect your business after taking possession of the parcel.

2. When hiring high-level employees

One reason you want to consult with a business lawyer before hiring a high-level employee is that you may want to draw up a confidentiality agreement to protect business secrets. You may also want to protect any inventions or concepts that the employee creates while under your employment.

Without these agreements in place, it may be easy for a high-level employee to take your trade secrets and start a competitive business using knowledge he or she gains from your own company. Their inventions or such concepts that they create while in your employ may also include ideas and work by other employees, so you should have ownership of these. A business lawyer can help to draw up these agreements that high-level employees must sign before being hired.

3. Before buying a business or merging

It's good to consult with a business lawyer before you buy a business or merge with another, as you want to ensure that there are no liens, lawsuits, or outstanding tax bills that are attached to the business, which you might then be responsible for after the purchase or the merger. A business lawyer can also ensure that there is a correct valuation on that business, and that you understand all employment and vendor contracts that may be part of the company you're purchasing and which you may need to honor. This will ensure your financial interests are protected during the purchase or merger.

If you find yourself in any of these situations, or you have other reasons to seek the help of a business lawyer, contact a local firm like Anthonys Solicitors.

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