When Life Gives You Lemons — Call an Attorney

Here's a hypothetical situation: you have owned a small business for the past ten years or so. Over the past couple of years, business wasn't doing as well as it should have, but things have remained generally stable. However, there are a couple of nagging questions you might have about certain legalities of the business, such as, "Will the disgruntled employee that I had to fire sue me?" or "What can I do about that customer who is disputing a valid bill?" While many large businesses can afford to have a large counsel of lawyers on hand, your small business might not be so lucky, due to the extreme price involved. One of the best things you can do for your small business is hire a corporate lawyer on retainer. Having a corporate lawyer on retainer basically means that you pay him or her a small fee and, as such, you have access to his or her legal advice whenever you need them. Throughout the course of this article, you will learn 4 reasons you should have a corporate lawyer on retainer.

Easy Budgeting

One of the biggest problems with dealing with a lawyer regarding legal advice on a case-by-case basis is that you will have to pay for each individual piece of legal advice. As such, the bills can begin racking up and budgeting for such issues can become troublesome. Most people don't really know when they're going to need legal advice — especially an entity such as a small business — so they don't make financial provisions for such problems. By having a corporate lawyer on retainer, you pay a monthly fee and you have unlimited access to their services; basically, the one time fee makes budgeting far less of a pain and far more of a convenience.

Help

Simply put, by having a corporate lawyer on retainer, you are paying for their help. Worrying about legal issues when it comes to your small business can become a serious issue, and it might even be one that wears on your mental and physical health. By having a corporate lawyer on retainer, you will have access to their legal advice at all times (and, if need be, they can help you out in the court room, as well). This means that you can begin to rest easy at night and be less prone to any worry related issues when you should be focusing on the things that matter, such as your business.

Familiarity

By bonding with your attorney and having someone who knows the ins and outs of your legal situations and business model, you're not only building a friendship, you're also building the bonds of a  great legal relationship. No one wants to be called to court for any reason, especially if you're the owner of a small business. However, by having a corporate lawyer on retainer, you are ensuring that if you do go to court, you're going to have someone on your side who knows everything about your business and how to adequately defend it.

Connections

Another great thing about having a lawyer that you have built a bond with is the fact that they can help you out with a variety of connections. If they see a problem with your books and you need adequate help with accounting, they can contact a CPA with the right skills tailor fit to your business, for example.

Having a corporate lawyer on retainer is a fantastic idea, especially if you are a small business owner. It is recommended that you make the appropriate provisions for finding the right attorney for you, as soon as possible.