Five Reasons Why Every Philadelphia Business Should Have a Lawyer on Retainer
Whether your Philadelphia business is a small local start-up or a large corporation, you need to have the right team by your side to ensure your ongoing success. With regard to documentation and compliance, you will benefit from having a skilled and experienced attorney on retainer. If you are operating a business in Philadelphia, here are five excellent reasons why your business would benefit from having a lawyer on retainer:
1. Business Structure and Organization
In Pennsylvania, new businesses have several options for incorporation including limited liability company (LLC), partnership, and S-Corporation. Each option has specific requirements and benefits, but selecting the right one can be a balancing act.
Whatever your concerns, retaining a knowledgeable business attorney is important before submitting your corporate formation paperwork to ensure your chosen structure insulates you from needless lawsuits while meeting your short and long-term business goals.
2. Real-Time Advice
Some companies deal with legal issues frequently and need round-the-clock assistance. If your business is one of these, having a lawyer on retainer enables you to easily access trusted legal counsel without the delays associated with seeking out and hiring a knowledgeable lawyer. Delays can result in financial losses or other negative results.
Having someone on standby to bail you out, provide advice, or represent your interests before a court, regulator, or adversary is a great benefit.
3. Workplace Issues and Employee Unrest
When a small business is new, many choose to go it alone. But once your operations expand, you will need to hire employees and contractors. This expansion increases your responsibilities dramatically. All of a sudden, you are responsible for workplace injuries, harassment, and other workplace issues that naturally arise .
Retaining a business lawyer can help keep you in compliance with safety standards and up-to-date with changes to federal and state labor laws. That way, you will be prepared to handle any workplace incidents, and you will be ready to defend yourself should a worker get litigious.
4. Contracts and Business Transactions
No matter the industry, businesses enter into contacts on a regular basis. But sometimes those contracts are not fulfilled. Perhaps a product was delivered late, or a service delivered was lower quality than promised. Or perhaps, you are hiring. When that happens, having an attorney on retainer to handle unforeseen issues with the vendor is helpful.
A retained attorney is also useful should your company breach a deal. If you want to preserve your reputation, you will need damage control quickly.
5. A True Partner
One of the biggest advantages to having a business attorney on retainer is the resulting relationship. When your legal counsel understands the ins and outs of your business, communication is quicker and fewer miscommunications occur.
You also spare yourself the costs and inconvenience of starting fresh with new attorneys who may be a bad fit for your company or your particular situation. And, should the need arise for any recommendation to a specialist, you know that the advice would be from someone you know and trust.
A Business Lawyer on Retainer is Just a Phone Call Away
As outlined above, there are plenty of reasons why your business should have an experienced attorney on retainer. When you need trusted legal counsel you will be glad they are just a phone call away.
The attorneys at Alfred Abel Law Offices serve businesses large and small throughout the Philadelphia area. If you need advice from a highly regarded and experienced business attorney or wonder if having a lawyer on retainer is right for your business, contact us today for a consultation.