When you’re running a business, reducing costs and increasing revenue is probably your top priority. However, business owners and managers must also be aware of their legal obligations and take steps to protect the organization. By doing so, you can ensure that you’re fulfilling your duties and increasing the success of your operations. With this in mind, take a look at these three reasons why businesses may need legal expertise:
1. Protection Against Injury Claims
No matter what industry you operate in, any business can face injury claims. Both your employees and members of the public can take legal action against you if they’re hurt on your premises or injured due to your actions. Although the right insurance policy should cover any payouts, you’ll still need to defend your business and reduce the risk of claims being made against you.
As personal injury claims can be complex, outsourcing your legal requirements can be the most effective way to access the professional support you need at a budget-friendly cost.
2. Contract Drafting
Businesses are based on contracts, which means every document that’s created needs to be accurate and drafted in accordance with the relevant legislation. Whether you’re negotiating with suppliers or creating client contracts, it’s vital to incorporate clauses that will protect your business and reduce the risk of subsequent litigation.
Having your contracts drafted and/or reviewed by a lawyer is certainly a good way of ensuring there’s no ambiguity when it comes to their contents. An experienced lawyer will be able to provide bespoke advice to help you protect your interests and ensure that potential methods of dispute resolution are identified within contracts, should they be required.
3. Hiring Employees
As a business owner, you’ll want to hire the best team to increase your commercial success. As you might expect, recruiting and managing employees can be challenging due to the wide variety of employment-related legislation and regulations. From providing a safe workplace to ensuring your recruitment process is transparent, there are various ways in which a lawyer can help you to navigate the complexities associated with hiring new staff.
If you rely on freelancers and subcontractors to supplement your core staff, accessing legal expertise will stand you in good stead here too. Well-drafted contracts will ensure that freelancers can’t subsequently claim to be employees, for example, which will avoid potential litigation and costs for your company.
Should You Hire a Lawyer?
Although global conglomerates typically have an in-house legal department, the vast majority of small and medium-sized businesses don’t need to hire a full-time lawyer. In fact, doing so could be a poor use of your resources.
As you can see. outsourcing makes sense, and not just in terms of legal services. Businesses can outsource all manner of services, from accounting to cybersecurity. To find out what areas law firms can outsource, take a look at this blog post from americanretrieval.com.
By outsourcing your needs and working with lawyers and attorneys on an ad hoc basis, you can access the expertise and services you require in a cost-effective way. This will give you access to the professional and specialist support you require, while still enabling you to keep your costs low.