Having A Business Attorney Can Save You Money

Posted on: October 21st, 2019 by: Kholter

There Are Multiple Challenges Running a Business.

From serving your customers to managing your operation, it’s not for the faint of heart. The Tulsa Attorney Directory is a great resource for those looking for legal help as it relates to your business.If you are just starting out as an independent contractor, small business owner, or have had your business for a while, you will find having a Tulsa Business Attorney on your side can save you money in the long run.

DIY vs. Having An Attorney

You will find in any business the best way to keep your money is not to spend it. When starting out almost everyone tries to keep expenses down to maximize profit. This means that most of the legal tasks are done by the owner of the company. There is nothing like accomplishing a task yourself and saving money at the same time.

A Tulsa Business Lawyer can help you along your journey as a business owner. Business Attorneys work for you. And often, they can highlight blindspots in your business and discuss with you how you will handle many different situations. Business Formation, Taxes, Customer Issues, Employee Issues, are just some of the areas they can assist you with. They will also represent you when you need them the most.

Starting Your Business

There is an energy and excitement when you start your business. But how it’s formed from the beginning can make all of the difference. Are you going to be a Sole Proprietor, Form a Partnership, or start an LLC or C corporation? This will depend on how you will operate. This can change over time as well. It’s not uncommon for a business to start out as a Sole Proprietor but become Incorporated in the future. Having a Business Attorney to assist you with the formation of your business, can help you avoid the common mistakes that are made without one. This will be important when it comes to the Local, State, and Federal Laws (including taxes).

Independent Contractor

When you are freelancing or working on a side hustle, then you are considered an Independent Contractor. You work for someone, but are not employed by the company. You won’t get benefits, but you gain a lot of freedom as most gigs are contract positions. It’s very important that you read and understand what you are about to sign before accepting a position. The devil is in the details, and most details are overlooked as we consider the income potential. In our technological society, we are pushed to digitally accept and sign contracts without the opportunity to fully understand what we are doing. Having a Physical Contract in your hand, along with the eyes of a Tulsa Business Attorney, will help provide you with a clear picture so you can make an informed decision before you start to freelance.

Small Business Owner

Owning and operating a Small Business is very exciting and rewarding. You are not bound by rules and regulations that a bigger company has, and Small Business Owners seem to have a greater sense of freedom as they operate their business. That is not to say it’s without risk. How much risk depends on how you have your Small Business Setup. Are you solely responsible or is your company responsible? Can someone sue you or your company is another way to look at it.

Contracts are a great example of where a Business Lawyer can save you money. The creation of a contract by a Business Attorney often starts by letting them know what your needs and desires are when it comes to a business transaction. If you are creating a product, who owns the rights? Is payment due before the start of the project or after the project? What is your company responsible for and what is your client responsible for? By discussing these needs with your Lawyer, you are able to have a contract that protects both your company and the client. Don’t be penny wise and pound foolish. You don’t want to find yourself in a situation where a little bit of time and money could have saved you in the long run by not having a solid contract in place.

Legal help when Trouble Strikes

As you grow your business, you will find that you will need the assistance of a Tulsa Business Lawyer. Customers may not be happy with your company or services at all times, and employees may be disgruntled during their employment. Almost every business will need an Attorney at some point. Forming a relationship with a Tulsa Business Attorney can help bring you peace of mind.