Do you need a business Lawyer?
In the hit sitcom "The Office," Michael Scott, a manager for a paper corporation, decides to hire a lawyer because he feels that his company's policies regarding speech violate his rights. Later in the episode, the company lawyer goes to Michael Scott's office only to find the other lawyer Michael had hired. Michael failed to realize that the company's lawyer was there to protect him from lawsuits, not to discipline him. However, a business lawyer does more than protect companies from lawsuits. Business lawyers understand the law's critical elements of business operations, including contract and intellectual property law, and help form operating documents.
Having a lawyer for contract creation, enforcement, and disputes is vital for a business's success. All business relationships with customers and suppliers are governed by contracts (Fairlie, 2023). Because contracts are so central in business life, a business lawyer needs to be professionally trained and instructed on forming and analyzing contracts. Having a qualified and prepared lawyer will help companies avoid unclear and insufficient contracts, saving time and money in the long run.
While contract law is essential, intellectual property (IP) law is just as important. If businesses do not protect their intellectual property, then another company or individual can take and make it their own. A business lawyer is needed to help companies protect their intellectual property. A business lawyer must register all business trade secrets and creative works (Gouchev Law, 2022). Knowing how to file an IP is a necessary skill for all qualified business lawyers.
Being a new business owner is an exciting thing. However, when individuals are forming a business, they often don't spend enough time on the operating agreement. An operating agreement is much like a partnership agreement and, as such, provides freedom to create a business's procedures and governing rules for an LLC (Your Dental Lawyer, 2023). A business lawyer must have excellent communication skills to know the desires of all the parties involved so that the operating agreement can function correctly. It can be a document that protects and benefits everyone involved.
Business lawyers are a benefit to all businesses. Michael Scott may have yet to learn how a business lawyer could help him; however, he absolutely knew that having a lawyer present would be beneficial. Business lawyers need to understand contract and intellectual property law and know how to form operating documents to succeed.
References
Fairlie, M. (2023, Feb 28). Why You Should Develop a Relationship With a Business Lawyer. Retrieved from business.com: https://www.business.com/articles/business-lawyer/
Gouchev Law. (2022). 5 steps to Protecting Your Intellectual Property. Retrieved from Gouchevlaw.com: https://gouchevlaw.com/5-steps-protecting-intellectual-property/
Your Dental Lawyer. (2023). Articles and Resources. Retrieved from yourdentallawyer.com: https://www.yourdentallawyer.com/resources/the-importance-of-an-operating-agreement
