At MJB Lawyers, we often find ourselves advising clients on how to clean up or solve problems that likely could have been avoided if some proper steps had been taken initially. Understandably so, many individuals, when they initially wish to start a business or buy a business, are very concerned about the initial costs. Unfortunately, we see all too often that if these individuals would have spent a little more time and money up front properly planning and documenting their business plan and assessing risk, this would have saved them a great deal more time and money in now trying to rectify or clarify some of the uncertainties. Often the misconception is that lawyers tend to make things more complicated but our role is the exact opposite: to try to assist you in putting your business plan to paper so as to try to avoid pitfalls in the future.
Clients may believe that their business idea or purchase is ‘very simple’ or ‘straightforward’. A lawyer’s role is to create inexpensive ways to help the client identify and limit potential risks and pitfalls. If all parties put their minds to the issues early on, then it is less likely that there will be a dispute about it at a future date. Some initial issues and considerations a lawyer can assist with include:
Initial business creation
No party wants to go to court or to fight over issues, but when the expectations or understandings of the parties end up being different and unclear, they are often left with no choice. When the two sides are so materially different and the proper documentation is not in place to clarify issues, the parties are forced to go to court or some other form of dispute resolution.
Planning in advance to help avoid disputes
All too often individuals are very confident in the business plan or idea and believe all disputes can easily be worked out between the parties in the future. It is not a question of not trusting another party, but rather trying to prepare as much as possible for the unknown. One of the keys to a successful business is initially working with your lawyer to develop a strategy to identify issues and hopefully save you significantly more time and expense in the future.
As one of the largest law firms in the Interior, our lawyers have a broad range of specializations, ensuring that we have the experience to competently and professionally represent you.