It might seem intimidating at first, but you can handle legal issues without going bankrupt.
A recent survey in 2012 found that nearly 55 percent of small businesses faced legal problems, but nearly half have never even signed up for a free consultation with an attorney.
Why aren’t small businesses getting professional legal help? The simple answer is that people think that legal representation generally costs too much. The thought of spending a couple of hundred dollars per hour for a lawyer sound frightening.
While paying upfront for professional legal services might be tough in the short run, history has shown that it can actually save clients much more in the long run.
The history of business is littered with people who lost big time because they didn’t initially retain legal counsel. Eduardo Saverin, Facebook’s co-founder, signed an agreement without having his lawyer look at it. It cost him 20 percent of Facebook. Imagine that happening to you?
What kinds of problems do small businesses face? Here are the 8 biggest issues small business face:
1. Complying with government regulations.
2. Debt collection.
3. Getting sued.
4. Contract Concerns.
5. Insurance disputes tax issues.
6. Intellectual property protection.
7. Product liability.
8. Threats of lawsuits by customers and employees.
If these legal issues are blown off it can break your business.
Technology is allowing business owners like you or your friends to access lawyers without breaking the bank.
The Law Office of Frederic R. Abramson represents businesses and individuals in New York. Feel free to contact mea t