4 Instances You Need To Hire A Corporate Lawyer

Salary negotiations, mergers and acquisitions, business disputes, capital raising — are just some of the reasons why one might need to hire a corporate lawyer. If you're running a small or medium-sized business, here's where to start when thinking about hiring legal support:

1. To Draft Share Issuance Documents

Investors may ask for specific features in the type of shares they want to purchase. A company needs an attorney very early on in its formation stage so that it can prepare all documentation with confirmatory due diligence. Documents that need to be drafted include subscription agreements, stock transfer agreements, and certificates of incorporation. This is where it becomes essential to find not only an attorney with experience in startups and small companies but one who knows how to draft the appropriate documentation.

2. Business Sales and Acquisitions

This can be one of the most difficult — and valuable — aspects of running a business. You know you have competitors looking for an opportunity to crush your business so it pays to get legal advice on how best to protect your company's interests during negotiations with potential buyers.

3. Business Disputes

It's never pleasant, but there will be situations where disputes inevitably arise. Whether it's about intellectual copyright or non-competition agreements, properly drafted contracts may not guarantee that you'll avoid disputes but they reduce the risk significantly. The best way to prevent problems is to make sure you know what you want before entering into any agreement; plus, your corporate lawyer can offer advice on how to structure an agreement so that it makes dispute resolution faster and easier.

4. Capital Raising for Expansion

Any business that wants to grow has to have money. Whether it's venture capital or bank loans, the business will need to follow specific legal requirements depending on whether it's a public company or not. The best way to save time and headaches is to get advice from an attorney before setting out so that you know how the process works. For example, are there any other steps you should take? Which documents do you need? How much money should you be looking for? An attorney can help with drafting documents for this purpose as well as explain what other conditions might apply in certain circumstances.

Some of these issues are complex enough that it makes sense to just hire a corporate lawyer right away rather than waiting until things go wrong. Going forward, your focus can remain on running your business while your lawyer takes care of the legal issues.