It has been said that the best preparation for tomorrow is to do your best today: H Jackson Brown Jnr. Well said! Certainly, doing your best and striving to achieve the best you can will in some ways prepare you for the ‘tomorrows‘ in life. However, when you are operating a business, you need to do more than ‘your best‘ in order to succeed, as the success of your business is not always in your own hands.
You rely on staff, a supply chain, customer demand, reliable product, service, referrals, product recognition, branding (and the list goes on and on). Any downfall in your business may not be the result of you failing to do ‘your best‘.
However, as a business owner, there will be times when you need a lawyer. With the assistance of your lawyer, you can better prepare your business for the future by addressing any legal issues your business may face. Such issues may include:
- Is your productivity and profit reduced due to a disgruntled employee or toxic workplace?
- Have all employees signed employment agreements and confidentiality agreements?
- Are all employees aware of your social media policy? (You do have one, don’t you!)
- Do you need to review contracts you have in place?
- Do you need contracts drafted to formalise any oral agreements you have in place?
- Are there contracts and or leases in place which will need to be renegotiated within the next 6 months?
- Does your business structure adequately protect you from any potential liability the business may be exposed to?
- Have you thought about your business structure from an estate planning prospective?
- Do you have written executed agreements in place between partners and joint venture partners?
- Have you received any demand notices regarding your debts?
- Do you need to instigate debt recovery measures to recovery monies owed to your business?
- Have you been served with any legal documents or have proceedings been commenced against you? Or, have you received correspondence advising legal proceedings may or will be commenced against you?
- Do you have a Will which reflects your current intentions and circumstances?
- Do you have an Enduring Power of Attorney for financial matters? And, are you still happy with the Attorney you have appointed?
These questions raise issues which highlight circumstances where you may need a lawyer. If you are to be prepared for the ‘tomorrows‘ in your business, it is imperative you address any legal issues which your business may face. This list of questions is not exhaustive and there may be other legal issues which you will need to consult a solicitor for advice.
If these questions have raised some concern with you and you need a lawyer, please contact our Principal, Leigh Avuri on 0402 912 962 for a confidential discussion, or by email: email@example.com.