The best way to stay clear of legal issues that could afflict businesses and drain their resources is to plan ahead. The running of a company regardless of size requires business expertise and planning. Business owners who are smart regularly check their marketing plans, inventory, and their customers to adapt to changes in the market. Important business documents should be reviewed as part of the review process.
Do I need to review my legal documents for business with my lawyer?
Many business owners believe themselves that their non-compete agreements, contracts, or other forms of legal documentation are in order. The old adage “if it’s not broken, don’t fix it” . . . is not applicable when it comes to documents that are legal. Only the skilled eyes of a seasoned attorney for business can determine if documents are operating according to the plan they were created for. Thus, scheduling a meeting with your lawyer of the legal documents that you use in your business is an effective method to avoid future issues.
Another group of documents you should examine in conjunction with your attorney for corporate include the documents that your business may receive from other attorneys , such as demand notices or letters to protect information and documents. The demand letter or litigation hold notice in its entirety is a document that must be thoroughly reviewed by the counsel in order to decide if the demand requires the company to respond and take appropriate action. In the event of not taking action, my posts on what documents businesses must keep and the eDiscovery process are useful in understanding the matter.
What should I discuss with my lawyer?
One important legal issue that you should discuss with your company’s attorney is the risk of liability. Insurance covers a variety of areas of liability, however self-insuring can be financially advantageous. Talking about the risks of your premises through a walk-through session with your lawyer for business will allow them to propose ideas for such things as placing cameras in specific locations. The small investment could make your business save thousands of dollars in defense later in a non-existent slip and fall lawsuit.
Also, having your attorney for business in the preparation of transactions will ensure that your documents cover all of the crucial issues. For instance, a customer of mine uses a unique weight loss program for large companies. The majority of customers of my client would like to know the process that has led to the level of achievement. If my client divulged this information, there’s an increased chance that a larger company might try to replicate the procedure. For this client, I proposed and designed an application that could be used in multiple steps that allowed them to disclose their information without putting themselves at risk of a devastating loss of trade secrets.