Should you hire an attorney for your startup?

Should you hire an attorney for your startup?

| Apr 3, 2021 | Corporate |

New North Carolina residents are taking the plunge into entrepreneurship every day. As you start to grow your business, there are many professionals whom you’ll want to hire as part of your overall team. An attorney may be one that you’re on the fence about. Legal advice tends to come at a high cost, which can be a tough investment decision for a business just starting out.

What may an attorney do for your business?

When you assess whether it’s worth the money to hire an attorney, you should have a clear idea of what they can do for you. An attorney may help with all stages of a business from corporate formation to continued growth. As a business, you’ll be dealing with contracts on a regular basis. Having an attorney to create these contracts and ensure the best interests of your business is vital to your future success.

Attorneys may create all types of legal documents like privacy policies, non-disclosure agreements and trademark applications. They might serve as your legal consultants throughout the life of your business. Attorneys may also handle any lawsuits that your business faces in the future, so there are a lot of benefits to having an attorney on staff.

When is the right time to hire a lawyer?

The true answer to this question is that it highly depends on your business. While it’s definitely beneficial to have a lawyer on staff from day one of operations, it’s not always necessary. You’ll likely want to pay for legal assistance when you feel that a particular situation is over your head. For example, if a vendor requests that you sign a contract, you may pay a lawyer to assess the agreement and ensure that it’s in your best interest.

Hiring an attorney is something that every entrepreneur will contemplate at one point or another. A lawyer on your staff may provide many benefits for your business. When it comes to the right time to hire one, it’s really going to depend on your business’s individual needs.