A huge misconception with small business owners is that they don’t need to do things “on the record” like hug incorporations. However, this theory can – and will – land small businesses in a lot of trouble. So if you think you don’t think you need a corporate lawyer, think again!

Get help from Belize Lawyers

No matter the size, every company should solicit the help of a corporate lawyer to ensure that all legalities concerning the business is taken care of. Luckily, there are expert corporate lawyers in Belize that can ensure your business is fully covered against any legal liabilities. Here are some scenarios where your small business will definitely need a corporate lawyer.

Partnership Agreement

This is an integral element of your business that needs to be solidified with a formal contract. Most times small business partnerships are formed between very familiar parties that may not explicitly express their role in detail. Similarly, verbal agreements may be made that are never put into writing. It is best to get a corporate lawyer on board that can prepare a Partnership Agreement that specifically states each partner’s role, rights and obligations in the business as well as an asset and ownership split.

Negotiations

A constant part of owning a business is engaging in negotiations with other businesses or customers. For example, on any given day you could be negotiating your lease with your landlord, corresponding with other businesses that you contract services from, or you could be entering an agreement to expand your business. All these scenarios require a thorough knowledge of the legalities involved as well as due diligence and impeccable attention to detail. This is where a corporate lawyer can help. In the case of dealing with your landlord, a corporate lawyer would ensure that you are well aware of any provision that may be unfavorable to you like common space utilities, lease renewal terms, or any increases in rent. Similarly with contracting services or growing your business, corporate lawyers will make you aware of any unfavorable terms or “fine prints” that may deter your business’ success.

Drafting Contracts

Contracts serve as the instruction manual to how your business operates as a structure, with its employees, with its customers, and any other entity it associates with. As such, a contract is a very integral instrument in ensuring that every operation runs smoothly within the business and that its best interests are maintained. So it doesn’t help that contracts are written in a jargon so difficult to understand that people need go to school well into adulthood to fully comprehend. Lawyers are formally trained to create and analyze contracts. Don’t risk undertaking any liabilities because you didn’t understand what the agreement stated. Get a lawyer to verify the legitimacy and benefits of every agreement you enter into.

Litigation

Handling litigations is the area that lawyers are probably most needed (and appreciated). You will never have a 100% customer satisfaction rate. Your customers will find faults; some will even go so far as to make legal claims against you because of their dissatisfaction. This is where lawyers shine! In situations like this, it is your lawyers job to deal with any disgruntled customers whether it be advising you to settle with the customer or not, or convincing the customer to drop the lawsuit.

Confidentiality

It’s very hard to find complete honesty and trust within any business, be it big or small. When information gets shared that was meant to remain only between parties of a private discussion, the business looks bad and may incur liabilities because of that leak. Having a corporate lawyer can quickly remedy this situation via an injunction. The entire situation could be prevented also by having a corporate lawyer to create a Confidentiality Agreement and ensure its implementation.

Other ways corporate lawyers can help your small business is through the development of effective Terms & Conditions and Privacy Policy for your business website, protection of your Intellectual Property, taxation, finance, and more. Never discount the benefits of having a corporate lawyer in Belize assist you with the day-to-day transactions of your small business.

For a Belize lawyer visit https://www.attorneybelize.com or contact Steve Perera at +501-610-4444 or email [email protected].