Legal Risk Management
The greatest headache for any business owner, especially for a small or midsize company, is finding oneself in the middle of litigation and having to spend money that otherwise could be used in business. My experience is that most of the time these legal headaches could be prevented when the advice and consultation of a business attorney is sought.
Business owners are some of the most hardworking people. Every day, we wake up to not only stand but think about growing our business. Through our work, we provide for our families, and if we have employees we are responsible for the well-being of our employees' families. We work, we "rise and grind" to give shape to our ideas and help do good. A step or business risk taken suddenly turns into a legal mess. Now, money needs to be spent that perhaps it was not budgeted for. Frustration settles and then the headache that comes from not only having to spend money you didn't budget for, but also the time needed to deal with the legal stuff.
The problem as I see it, suggested by experience also, is that it results from people's tendencies to overlook the legal components involved in undertaking a business decision. Large companies always involve attorneys in business decision making. Small and midsize businesses for many reasons tend to operate on their own. SMEs take a financial hit when legal messes sit at their doorsteps.
In my experience, in the business world, business decisions and law are two sides of the same token. Business decisions involve risk-taking. All business risks involve legal components. They involve many areas of law interacting with each other comprised in one term Business Law. Experts say "all risk is legal in nature." Risk costs money. Albex Law makes a point to deliver business/ legal risk minimizing solutions to small and midsize businesses (SMEs), including Women and Minority Owned Businesses (W/MBE) for one reason: avoid financial waste. I advise clients from a business point of view but with the legal perspectives in mind. I find it's easy to plan and prevent than to not plan and pay later. My focus is not to prevent business but to work together with you to make things happen.
If you are planning to start a business or already operating one domestically here are some of the issues and risks you may be dealing with:
- Business planning?
- Are you a sole proprietor?
- Doing business in another state?
- Legal entity? Do you have the right business structure?
- Shareholders? Members?
- Initial agreements in place?
- Rights and obligations under contracts? (leases, service agreements, purchase orders?)
- Contract review?
- Regulation changes? State and federal law changes?
- What about breach of contracts?
- Contract management?
- Protecting trade secrets?
- Confidential information?
- how to manage lawsuits?
- working with outside counsel?
- XYZ agency review? request for documentation?
- threatened with a lawsuit?
Albex Law can help to bring solutions to your problems. A firm believer in teamwork, Albex Law works efficiently with clients as a team member educating clients on the importance of Legal Risk Management and providing strategic legal advice and counseling. Find out more about our services.