Commercial Law

Why hire a commercial lawyer?

One may be inclined to ask, why would a startup need a lawyer? As an entrepreneur, you will likely be an expert in all the ins and outs of your business model. However, there may be many areas crucial to business operations that you are not well-versed areas particularly that someone without experience in the law may not recognize. In this case, a commercial lawyer can provide an extra layer of protection and foresight.

  1. Reducing legal risk

A firm’s business strategy will likely consider all aspects of market conditions and model the path through which it will ideally carve out its place in the market. However, startups often forget to consider an important aspect of conducting business-its strategy to reduce legal risk. The current business climate is one, which is characterized by many regulations and an equal amount of financial and legal risk. Of course, businesses should not be deterred by this environment, with the right amount of planning a business can thrive and avoid many of the financial and legal pitfalls present. One of the best ways to avoid legal and financial risk is to make hiring a lawyer experienced in advising commercial ventures.

  1. Avoiding problems before they begin.

Experience shows that the most cost-effective approach involves hiring counsel to prevent problems rather than after a problem has spun out of control. In these cases, the cost to the startup can increase exponentially over the minimal costs they would have incurred they brought legal counsel onboard from the start. In cases where an entrepreneur is taking every step to keep startup costs low, cutting in the area of legal representation may ultimately result in lost opportunities or the worst-case scenario, legal costs arising from litigation.

The current business climate is one, which is characterized by many regulations and an equal amount of financial and legal risk. Of course, businesses should not be deterred by this environment, with the right amount of planning a business can thrive and avoid many of the financial and legal pitfalls present. One of the best ways to avoid legal and financial risk is to make hiring a business formation lawyer a part of a businesses’ startup plan. As current or aspiring business owner, you will be the expert in your business model and how you will make it work. However, there may be many areas crucial to business operations that you are not well versed. In this case, a business lawyer can provide an extra layer of protection and foresight.

At the Radicic Law Firm, we provide a range of both technical and specialized legal services in a one-stop shop manner which can reduce and streamline the time and costs needed to address your commercial legal needs.