Do I need Legal Advice? LegalVision lawyer Lachlan McKnight explains;
As lawyers we often get asked, ‘Do I need legal advice?’. There are four main situations in which small and medium businesses need legal advice.
The first is when they are setting up their business structure. Do you need a company structure? Do you need a trust structure? Or do you want to be a sole trader? Those are the questions a lawyer can help you with.
Secondly, if there is an important contract that needs drafting or needs to be reviewed, a lawyer can obviously assist.
Thirdly, if you are buying or selling a business it is very important that you work with a lawyer to make sure that the sale goes off cost effectively and efficiently.
Fourthly, if you are in a dispute or any type of litigation obviously you are going to want to work with a lawyer. Whether you are deciding to work with a lawyer, clearly cost is an issue. So if any of those four main issues is worth a reasonable amount of money to your business then it is a good idea to choose a lawyer and work with a lawyer. If on the other hand, you are drafting a very simple contract it may be worth just doing it yourself if the value of that contract is not worth that much to your business.
At the end of the day, it is important to get a professional in early to make sure that you avoid mistakes that could be easily avoided. If you need any help with legal advice please get in touch at https://legalvision.com.au or 1300 544 755.