Setting up your business. An attorney can help with many decisions in setting up a business, including legal aspects of creating a business plan, choosing a business name, choosing a website domain, deciding between becoming a corporation or LLC and negotiating a lease agreement.

Protecting assets. Advising business owners on how to avoid liability is another facet of small business law. An experienced attorney can suggest the appropriate asset protection strategies, which may include separating business and personal assets, using a limited liability company and placing assets in multiple entities.

Hiring and firing employees. Business owners need a good working knowledge of employment law to ensure that the hiring and firing process, compensation and general treatment of employees, is fair and in compliance with local, state and federal laws. An attorney can help navigate the legal process, as well as advise an employer on instituting non-competition or confidentiality agreements with employees.

Creating and assessing contracts. Drafting business contracts that protect the rights of all parties involved is a daunting task that is best handled by an attorney with knowledge of complex business laws. Reviewing a contract presented by a business partner or client, as well as handling a contract dispute, is another matter best handled by a seasoned small business attorney.

Business litigation. If a company is accused of wrongdoing against an employee, client or other party, a business litigation attorney can help negotiate a settlement to avoid a lengthy and expensive court case.

Debt collection. When customers do not pay their debts, a business owner must utilize approved practices in order to collect. Lawyers advise business owners on what they legally can and cannot do during the collection process.

Buying and selling a business. Legal representation is vital when buying, selling or exiting a business so that buyout terms, contract negotiations, termination of the seller’s obligations are accurately understood and supported in the legal paperwork.

Small business owners have enough to handle with day-to-day operations without having to deal with legal matters as well. One slight misinterpretation of the law can result in a costly lawsuit that bankrupts a business. Therefore, hiring skillful and experienced small business attorneys should not be considered an optional expense when setting up a new enterprise. Discuss your business with an experienced attorney today.

P.S. With an attorney to ensure your legal needs are covered, you’ll have some extra time in your busy schedule. Check out how other business owners spend their day.