Your business will need services to help it at varying points in its life. Whether that is the help of accountants, marketing teams, or tax advisors. No matter how hard you try to keep your operations in-house there will come a time when you need to look outside to help what is happening inside. It is important that when this occurs you take it seriously and don’t overlook the need for professional help, the negative consequences of doing so could be far-reaching for your business. Seeking external legal advice is one such example that could have a transformative effect on your business. Failure to do so could see it getting into legal and or financial problems. Equally, taking proactive action could help drive your business’s success.  To help you identify when your business may be in need of a specialist to provide some independent legal advice, here are some circumstances you should consider. 

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Conflict resolution

Unfortunately, there may come a time when your business will fall into conflict with another business or establishment. If you cannot resolve the conflict or tension amicably it may well be that it results in legal action being taken. Generally speaking, a business will want to avoid litigation as this can be costly and time-consuming. Lawyers understand this better than most and while business lawyers will be there to protect your interest should litigation happen they will also be there to represent you in any mediation or arbitration attempts. Good lawyers will understand the ramifications of litigation and will work to come up with legal solutions that are in the interest of all parties, whether this is in or outside of court. While hiring legal representation may seem expensive it may actually save you money in the long term. That said, should conflict not be resolved through mediation then a lawyer will be essential for presenting your interest in court or by means of appellate litigation should it come to that. 

Business advice 

While a lawyer may not be the first person you think of to go to for business advice their services can in invaluable. Business lawyers calgary are best placed to understand the legal issues that affect your business and how this can affect operations and in turn profitability. They will be able to advise over issues that can help you to avoid major problems or pitfalls, such as potential lawsuits and legal violations. A good example of this is employment disputes. There may come a time when your company is facing legal backlash from a disgruntled employee or that it needs to undertake legal advice to deal with a potential staffing problem. Employing staff can be a treacherous area that sees employers losing out, so seeking legal advice can be the best business advice you get. 

Protect contracts 

It is not uncommon for businesses to rely on the use of contracts and when you are getting into a contract then good business advice is to always use a lawyer. It can be easy to overlook the importance of legal advice regarding business contracts, partnerships, mergers, etc but should your business get itself into a contract that it does not fully understand or appreciate then it could result in a breach of contract and potentially hefty penalties. 

To avoid your business being taken advantage of or undertaking agreements that it is not fully au fait with protecting its interest with legal advice is a savvy move to avoid any costly oversights. 

Business leases 

If your business operates out of business premises that it leases then it will be required to enter into a commercial lease. A commercial lease is a legally binding agreement that your business will make with the landlord. It is important therefore that you fully understand the effects of the lease and how this could or could not impact the success of your business. You will need to fully understand the consequences of the terms of the lease, the issues regarding termination, and any potential responsibilities that your business may have under the terms of the lease. If you are in any way unsure about the commercial lease you are entering into then it should always be checked and approved by a lawyer before you sign on the dotted line. 

Many companies have concerns about their leasing compliance. Under new rules, a business now has to record all their lease obligations including operating leases. While they use an attorney to ensure commercial leases are binding and an accountant to ensure finances are above board, they often use software too. Lease management with LeaseAccelerator can be fast and easy, ensuring a business's full compliance with lease accounting standards. Using software allows them to automate away some tasks that would otherwise require dedicated work hours at a higher cost.

Peace of mind

Navigating the world of business can be a daunting prospect. A prospect that you might be better placed to deal with when you have advice or a second opinion from a regulated professional. If there is anything with regards to the legal operations of your business referring these matters to your legal team will give you the ultimate peace of mind.