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Most of us have a mistaken idea about lawyers. We see
expensive
attorneys being interviewed on TV and figure there is no way we
can afford one for our small business.
True, many top attorneys charge several hundred dollars
per hour
to work on complex cases. But most businesses need much simpler
legal work that a competent lawyer can do quickly. Getting a
contract checked, a good dept collection letter written, and
advice on taxes won't necessarily cost you very much, IF you
spend some time looking for the right law firm.
And it is vital that you look. Doing business without
legal help
is like driving in the Indy 500 without a seat belt. Even though
most customers and suppliers mean well, you WILL get those who
seem to be intent on costing you dearly. Sometimes their
intentions are less than honorable, but more often legal problems
result from misunderstandings.
Have an attorney review your contracts for problems. Also
have a
lawyer review contracts before you sign them. It's not unusual
to have the seller give you verbal promises that are not backed
up in the written contract. For example, a lanlord might lease
an office to you with a verbal promise that you could downsize to
smaller space if times get tough. Without that promise included
in the written contract, you may get stuck with thousands in
unwanted rent payments.
Attorneys have special training to help untangle such
difficulties, and can be invaluable in resolving an otherwise
devastating situation.
While many lawyers are in the busniess to make a lot of
money
(who can blame them!), a great many went to law school so they
could help people. Many strongly believe that if average people
can't afford legal help, our legal system will suffer and
eventually break down.
While you are at it, get help with accouting and taxes.
An
expert can show you how to set up your books so you don't get in
trouble with the government and get saddled with fines. On many
issues, the government has an "our way to the highway" attitude.
It's also important to get help making sense of the
numbers in
your books. The trained eye can let you know when expanding
makes sense and when cutting back is necessary. They can also
find ways for you to save on taxes and squeeze more profits from
you business.
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