Just about every business needs to work with a lawyer to ensure that they are fully protected. Indeed, businesses rely on their lawyers for a variety of important services, from providing critical legal advice to helping with complex transactions. However, not all businesses know exactly what questions to ask their lawyer in order to get the most out of the relationship. To help you out, we thought it would be useful to put together a brief article about this subject. Here are five questions that businesses should ask their lawyer.
What is the Right Business Model?
Your business model will impact the legal advice you need. For example, if you are starting a new business, you will need advice on entity selection, intellectual property protection, and contract formation. If you are expanding your business, you will need advice on trademark protection, employee contracts, and zoning regulations.
Can You Accommodate the Core Business Functions?
Your core business functions will also impact the legal advice you need. For example, if you are a technology company, you will need advice on patent protection. If you are a manufacturer, you will need advice on product liability.
What Key Risks Do I Have to Worry About?
Lawyers are there to cover you from risks that your business undertakes. Every business faces risks, and the type of risks you face will impact the legal advice you need. For example, if you are a retailer, you face the risk of theft. If you are a technology company, you face the risk of intellectual property infringement.
What Are Important Compliance Issues I Need to Be Aware Of?
Aside from the risks, you’ll also want to be aware of any laws that your business must abide by. Every business must comply with certain laws, and the type of compliance issues you face will impact the legal advice you need. For example, if you are a healthcare company, you must comply with the regulating bodies in your industry.
What Are Key Legal Issues That I Need to Be Concerned About?
Lastly, you’ll want to make sure that you are prepared for any issues that you may encounter. The key legal issues you face will impact the legal advice you need. For example, if you are starting a new business, you will need advice on entity selection, intellectual property protection, and contract formation. If you are expanding your business, you will need advice on trademark protection, employee contracts, and zoning regulations.
Conclusion
We hope this article proves to be useful when it comes to helping you gain a better understanding of the different questions that you need to ask your lawyer before deciding to work with them. While it may seem tedious at first, these questions will help make choosing the right lawyer more manageable. Be sure to keep everything you’ve learned here in mind so that you can make the most informed decisions for your business.
Turn to GLG Legal if you are looking for a reliable law firm in Brisbane. We are an ambitious, innovative commercial and property law practice based in Brisbane that provides its clients with real-world solutions to meet their commercial and property needs. For more information, get in touch with us.
