You’ve probably heard several myths about business law attorneys. They sound compelling but simply aren’t true. Believing business law myths can end up costing you.
We debunk five of the most common business law myths so that you can better protect your business.
1. Myth: Lawyers Destroy Small Businesses
Lawyers get a bad reputation because they are made out to be the bad guy in litigation. This myth is made even worse when large companies hire attorneys to wield their power over a smaller opponent.
The truth is that business law attorneys want your business to succeed. They can help you level the playing field against the larger corporations. Your attorney can provide you with advice to reduce your liability and risks.
2. Myth: You Only Need an Attorney When There Are Problems
Never wait until you’re facing litigation to hire an attorney. At this point, it’s too late. Being proactive about hiring legal representation ensures you set yourself up for success. Waiting to hire an attorney can result in your missing out on opportunities. There are deadlines in law that you need to meet, and waiting can result in your missing these deadlines.
Sometimes, you may need an attorney and not even know it. Waiting to hire an attorney means they can’t advise you of these situations. You won’t find out until further down the line when the legal issue is much bigger and more expensive.
3. Myth: Attorneys Are Expensive
One of the most common business law myths is that people assume all attorneys are expensive. They also assume that only the best attorneys charge a high hourly rate. Both of these myths are untrue. Just like any business, attorneys charge a wide range of rates. This means that you can find a business attorney no matter what your budget.
Not all attorneys charge by the hour, either. Depending on the attorney and the type of representation you’re looking for, they could charge a flat fee or a contingency fee. Flat fees are typically charged for routine tasks, such as filing corporation documents. Contingency fees are paid out of the damages award you receive.
Never blindly hire the most expensive or cheapest attorney you can find. Instead, focus on the services they provide, their experience, and their performance track record. Then hire the best attorney that you can afford.
4. Myth: You Can Copyright By Mailing Your Work
There’s a common misconception among business owners that you can copyright something by mailing it. This is unsurprising as the theory is a compelling one. You put your work in an envelope and mail it. The USPS will stamp a date on it as a part of the mailing process.
Unfortunately, this isn’t the proper method for establishing copyright protection. While it might work in a private settlement, it won’t be enough in a court of law. Instead, consult with a business law or intellectual property attorney to learn the proper procedure for securing a copyright.
Your business law attorney can help you establish protections for all of your business assets. This includes non-disclosure agreements and employment contracts.
5. Myth: Contracts Should Be Complicated
We’ve all seen those overly complicated contracts that are full of “legalese”. These contracts are extremely long, confusing, and hard to understand. Not all contracts need to be this way.
If you’re tasked with making a contract, don’t try to make it more complicated than it needs to be. The best business contracts are the ones that are clear, concise, and address all of the relevant terms. One thing to keep in mind, the more terms and language you have in your contract, the more opportunity a lawyer has to poke holes in it. This can lead to more litigation and expensive than necessary should a conflict arise.
Consult a Law About Your Business
If you own a business, then it’s important you consult with an attorney. A skilled and knowledgeable attorney can help you at every stage of your business. The sooner you hire an attorney, the sooner you have someone advocating for your best interests and rights. Now that you know the truth about these business law myths, you can protect your business.
Schedule a consultation with one of your skilled attorneys to discuss how we can assist you and your business.
