Every business needs a lawyer at some stage of its development. It’s important to know if a lawyer is needed at all times. This is not the case for small businesses but common for corporations. There are several facts to remember when deciding to hire a full-time lawyer.
Constant threat of litigation
The most obvious reason to hire a full-time lawyer is because the company or organization is constantly under threat of litigation. Large companies and corporations have millions of customers and receive millions of complaints every year. If they’re sued and lose, they have to give millions of dollars in individual or class-action settlements.
In addition, dissatisfied customers often leave negative reviews about the company online. Lawyers are useful at reviewing complaints and improving the company’s reputation. They can file a countersuit against customers who try to commit fraud.
It’s too late after the lawsuit
Hiring a full-time lawyer from the beginning is recommended. It may be too late to hire one after the lawsuit begins. The best time to hire one is at least six months before the business is sued. It’s necessary to allow enough time to research the most qualified professionals in the area and check their credentials.
Also, a lawyer prevents a disaster from happening in the first place. He or she recognizes the early signs that a lawsuit will occur and takes actions to stop it. Lawyers also regularly give advice on how to comply with local, state and federal business laws. With a legal expert’s advice, a business owner avoids fines, the loss of a business license and other penalties.
High-cost legal expenses
Lawyers charge expensive hourly fees for their clients. If they work full time or overtime, their legal fees will not be affordable for every company. Smaller businesses need to hire part-time lawyers or consult legal advice only when it’s necessary.
Hiring a full-time lawyer depends on numerous factors from the business’s risks to the owner’s fear of litigation. A lawyer will benefit any business owner by providing a full range of legal advice based on years of experience. However, there are expensive fees attached to every service provided. It’s important to fully understand if and when it’s necessary to put a full-time lawyer on the staff.