What Are Business Legal Plans?
If you are the owner of a small business, you have probably encountered situations when you needed legal advice. However, you find out that business attorneys are extremely expensive. Maybe you decided to take the risk and not consult with an attorney in order to save costs. That would be a very big mistake because if you made an error in judgment it can costs you an exorbitant amount of money, and even your business. Legal services for businesses do not have to cost that much. There is a way to get legal support without paying so much out of pocket. That method is by enrolling in business legal plans.
Think about this as similar to your health insurance. In the plan, you pay a specific premium every month, and you have access to a wide network of attorneys in your area whom you can consult with whenever you have a legal question about your business. The attorneys will charge you a reduced rate, based on their contract with the business legal plan provider. You get legal assistance at a discount, and the attorney gains a new customer. This is a win-win situation overall.
So, it makes sense to consider business legal plans if you want to avoid paying high attorney fees every time you need legal advice. It will encourage you to seek legal help more often as well, for those situations where there are shades of gray, and you want to work them to your advantage. There are many situations like that when you are running a business. Knowing that your business decision is backed by the wisdom and expertise of an business attorney, it will give you more confidence in your operations.
You may be surprised at the many areas where an attorney can help you. In running your business, you probably have to enter in various service contracts with service providers or sub-contractors. Get a business attorney to review the contract before you sign on the dotted line. He may be able to spot things that should be addressed before you agree to them. Your attorney has your best interest in mind. He is the best legal advocate for your business. Things that you miss in an important contract can cost you a lot of money down the road. So, have any contract reviewed by an attorney before you sign it.
What about continuity and succession planning of your business? If ever you are not able to run your business, and you want it to keep going, who will take over? Succession planning is a legal matter because there may be stakeholders who have different ideas about who will run the business when you are not able to. With an attorney’s help, you can develop a success plan that is a legal document so that people after you will not have any doubts about how the company will be run. This will prevent any disputes and will keep your company healthy.
An attorney can help you with debt collection. As a business owner, you will probably experience clients or customers who are not exactly responsive when it comes to paying their bills. You offered a service or product to them, and they should pay for it. When they keep delaying payment, there will come a time when you have to take legal action in order to recover what is owed to you. This is where your business attorney can help you.
If your company ever gets sued, you can rest assure that you will have a reliable attorney who can defend you. Business legal plans usually cover a certain number hours per year when a court appearance is required. This saves you a tremendous amount of money from having to pay for this yourself.
You can see how many benefits a business legal plan can offer to you. As a business owner, it makes good business sense to have the legal protection, especially if you get it at a very affordable price. Do your research and find the best business legal plan that will fit your needs. Take advantage of all the benefits that they offer, and be confident that your business is in good hands.