“Try to find one that understands what it’s like to sit in your shoes.”
Tasks Where You Need a Lawyer
There are times when a business faces issues that are too complex, too time consuming, or fraught with liability issues. At that point, the wisest move is to retain a business lawyer. A few examples include:
- Negotiating investment documents such as loan agreements or equity investment documents
- Finalizing founder agreements
- Negotiating non-standard agreements with customers
- Former, current, or prospective employees suing on the grounds of discrimination in hiring, firing, or hostile work environment
- Updating any partnership, LLC, or shareholder’s agreements under which you are currently operating
- Handling audits initiated by the IRS
- Local, state, or federal government entities filing complaints or investigating your business for violation of any laws.
- You want to make a “special allocation” of profits and losses or you want to contribute appreciated property to your partnership or LLC agreement
- An environmental issue arises and your business is involved (even if your business didn’t cause the environmental problem, you may be penalized)
- Negotiating for the sale or your company or for the acquisition of another company or its assets
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