In a recent appearance, Jonathane Ricci talked about why it is critical to have a business lawyer. We will share some of the key insights from his conversation so that you also understand the importance of having a business lawyer.
Businesses are bound by multiple laws, and a business lawyer can help the business in ensuring that the business is compliant with such laws. The business has to consider every aspect of its operations. Be it tax submission, property purchase, or even routine operations, the business needs to ensure that they are compliant with the laws. Non-compliance can attract litigations and fines. In some cases, such litigations can also have serious consequences. So, the first and the most important part of the business lawyers strategy is to offer legal assistance to the business and to ensure that the business is not breaching any laws during its regular operations.
When you have a business lawyer associated with you, the business lawyer visits the various legal aspects of the business. They take care of the legal violations and lawsuits that can impact the business’s operations. Jonathane Ricci also mentioned that business lawyers are an integral part of the business organization, as they can help you avoid legal situations or situations where you may end up breaking the law because of the lack of awareness of the laws. So as per Jonathane, the second benefit of having a business lawyer is to get business-related legal advice.
During regular operations, you may find your business in conflict with other entities. These businesses may be from the same or different domains. Jonathane says that this is where the business lawyer comes into the picture. The business lawyer can help you with the legal options, and at the same time, the business lawyer can also act as a mediator between the two parties. Litigation is a time-consuming process, and it is also very expensive. In such a case, out-of-court settlement or arbitration is a vital option for all the parties. As per statistics found, and these can vary, in cases of personal injury, only 4% of the cases are resolved through court. The other 96% of such cases are settled through out-of-court negotiations. Another instance where your business lawyer can help you is by facilitating dispute resolution.
Jonathane Ricci also mentioned that we live in a very dynamic system. The rules and the laws change frequently. Sometimes, it may be challenging for business owners to stay on top of these laws. One of the reasons for that is the lack of legal literacy. Again, in such cases, business lawyers prove to be very resourceful. Your business lawyer can study the legal aspects of the changing acts, and they can help you stay compliant with these new laws. The business lawyers can help you with your lease agreement, partnership agreement, and vendor onboarding. A business lawyer ensures that your business is on top of all the legal documentation and changes.
If you find your business on the wrong side of the law, the business lawyer can help you deal with the problem. The lawyer will not only fight the case for you but also ensure that your fundamental rights are protected. Hiring a new lawyer at such times can be an expensive deal. So, if you already have a business lawyer associated with your firm, you will be at an advantage. Business owners should only handle the business disputes themselves; and, any legal disputes should be left to professionals.
Your business may also find itself in a situation where someone refuses to pay. This can be a rowdy customer or a vendor. Such times can be painful, and they can usually translate into losses. If you have a business lawyer, the lawyer can help you send a legal notice or a request on behalf of your business. Such notices usually motivate the debtors to pay as it raises the probability of a lawsuit. Apart from this, the business lawyer can also help you take the next step in case the payment terms are not met. Apart from this, Jonathane says that business lawyers also play a pivotal role in drafting contracts.
These were some of the major points from Jonathane Ricci’s communication. In conclusion, Jonathane also mentioned that business lawyers are great, especially when you want help from a specialist or when you are trying to draft a contract.
About Jonathane Ricci
Jonathane Ricci is a U.S. lawyer and a business consultant. He has created a business empire with his skillsets. He has a degree in Tax & Law which closely associates him with the domain he is presently working in. Jonathane has also completed LLM in International Taxation. At present, Jonathane is associated with Art Escrow Services & A13MG Group. Jonathane Ricci specializes in law consultancy, tax management, and asset management services. At present, he provides these services to many corporations, businesses and individuals globally.