27 January

How Legally Protected is your Small Business?

Many a times, small firms with little or no legal expertise can get entangled in unwanted legalities, sometimes permanently damaging their carefully built reputation.

How to legally protect your business?

Here are six steps you could consider!

Hire a legal solicitor
In business a legal solicitor plays an important role in protecting your business. This involves protecting your business from your employees, owner of the premises, your consumer even your competitors. So your first step is to hire a legal solicitor.
Make sure you have all your contracts right
Does your business run on a lot of contracts – with your employees, with your premises owner, with your consumers, with your shareholders and with your vendors. Your solicitor would ensure that you have all the contracts drafted in accordance with the existing laws and you are Legally Protected.
Employment Laws
Employment laws are dynamic and have been evolving with time. Your solicitor would ensure you are updated with the latest employment contracts, rules and regulations and you are Legally Protected.
Make sure you have the ownership of your ideas
Ideas that you have are legally your intellectual property. This includes your inventions, produce, documents, names, designs, brand symbols and logos. Your solicitor can ensure your contracts are legally protected and stop any competitor from infringing.
Protection while selling your business
When you are hanging up your boots or passing the keys to a buyer, you need to be protected from unnecessary legal hassle. Again it is your solicitor who would ensure you are legally protected.
Being prepared for the unexpected
Many businesses have fallouts between the co-founders and the irreversible differences would not allow them to work together. Or maybe it is you who is afflicted with an illness that would force you to be away, but you need to protect your company’s assets. It here your solicitor would advise you and ensure you are legally protected.

Being Legally Protected is a matter of choice. The cost of hiring an in-house solicitor can surely be a bomb and very taxing.

Outsourcing to a professional solicitor or consulting company would ensure you have:

  1. A well trained and updated legal professionals at your disposal
  2. You could be ensured of an affordable cost

Besides you can be free to concentrate on your core competency without any Legal hassles. s

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