The summer is winding down and we have nothing planned this weekend. Nice after what seems like a full agenda for months. Daniel will be returning to school soon and we will end our summer together with our annual trip to Serene Lakes. This will be our 6th year at the lake, and likely our last as the kids are now all grown and going in different directions. Bittersweet that this tradition will likely end in two weeks. We are grateful for the very fond memories of our very happy times together at our “boathouse” on Serene Lakes. Here’s a picture from a past trip.
Moving on to new, exciting adventures in business? Establishing a relationship with a trusted business attorney will ease the inevitable bumps in the road and expected growing pains you experience in a new and hopefully expanding venture. Such a relationship can ease and actually help avoid the pain of costly mistakes. Investing in this relationship is an investment in a healthy business.
Until next time,
Why Startups Need Lawyers, Not Legal Templates
When growth and funding are top priorities, it is wise to not let legal soundness fall to the wayside. Not surprisingly, 1 in 10 startups fails due to overlooked legal issues. Without a lawyer looking out for your best interests, it’s easy to miss common legal mishaps that pose a threat to any startup.
Mistake #1: Many startups rely on legal templates easily downloadable online to “cover their bases” and save money. What seems like a wise choice from an economic perspective can lead to significant liability if you don’t know what you are doing. Tax forms and incorporation documents might be free to download, but most entrepreneurs don’t have the legal know-how to be sure the forms are being utilized properly. Minor errors or oversights in those free legal templates can spell disaster down the road in the form of lawsuits or worse.
Solution: Enlist the expertise of an expert, like a Creative Business Lawyer®, to act as your trusted legal counsel. Adding this expert to your startup team will do so much more than simply handling legal documents such as terms of agreements, employee contracts, owner and vendor contracts. For a brand new startup it might seem overwhelming to invest in the cost of ongoing legal counsel, but the cost is nothing compared to the cost of losing your business altogether due to simple legal mistakes.
Startups need legal protections from the many risks all businesses face. When your focus is on growth and development, be sure to put developing an ongoing relationship with a trusted legal advisor at the top of the priority list. Online templates are no substitute for personalized legal counsel from a trusted business lawyer who will anticipate issues before they become problems and provide tailored guidance as your startup grows.
If you want to protect your business interests, limit your liabilities, and ensure your business is poised for growth, start by sitting down with us, as your Creative Business Lawyer®. We are experienced in helping new and established entrepreneurs achieve success through careful financial and legal planning. As your Creative Business Lawyer®, we can establish a sound legal, insurance, financial, and tax system for your business so you can focus on increasing revenue and enjoy the benefits entrepreneurship.