How often should you consult your Business Advisory lawyer?

In short, you should consult your BA lawyer all the time! Now before you think we’re saying this because of self-interest, hear us out.

 We’ve hammered home time and time again the importance of receiving and considering legal advice before you make potentially costly business decisions. With this in mind, it makes sense to consult your BA lawyer before you sign or agree to any substantial agreements (or amendments to agreements).

Examples of situations where it would be crucial to consult your business lawyer include:

• When you are establishing or amending your legal structure and the startup of a new business;
• If you have any ongoing or anticipatory business disputes;
• The sale or purchase of a business or franchise;
• Negotiations for agreements or contracts vital to your business.

It’s a lot cheaper to consult your BA lawyer than risk agreeing to something that is not advantageous for your business. It’s always beneficial to have an experienced BA lawyer review your agreements before you sign them, as it may save you time, money and stress. 

Most of us don’t hesitate to take out home and contents or life insurance because we weigh up the benefits of having this insurance if needed against the costs of not having it when needed. Similarly, a lawyer’s fees are only a small proportion of the total cost you would bear if these business decisions unravel without legal protections in place.

Consulting your business lawyer before every major decision means that we can point you in the right direction and make sure that your business continues in the right track.

If you have further questions, please contact us at frank@franklaw.com.au

This is not legal advice.