The best method to avoid legal issues that can afflict businesses and drain their resources is to plan ahead. The running of a company that is of any size requires know-how and planning. Professional business owners regularly look over their marketing plans, inventory, and their customers to adapt to changes in the market. Important business documents should be reviewed as part of the review process.
Do I need to review my legal documents for business with my attorney?
Many business owners believe themselves that their non-compete agreements, contracts, or other forms of legal documentation are in order. The old adage “if it’s not broken, don’t fix it” . . . is not applicable when it comes to documents that are legal. Only the expert eyes of a seasoned attorney for business can determine if the documents are functioning according to the plan they were created for. Therefore, scheduling a review with your lawyer about the legal documents that you use in your business is an effective approach to prevent future issues.
Another set of documents to examine in conjunction with your attorney for corporate include the documents that your business may receive from other attorneys , such as demand notices or letters to protect information and documents. The notice of litigation hold in its entirety should be thoroughly reviewed by the counsel in order to determine if the request requires the company to respond and take appropriate action. In the event of inaction , my posts on what documents a company must keep and what eDiscovery can do are useful in understanding the matter.
What should I discuss with my lawyer?
One important legal issue that you should discuss with your company’s attorney is the risk of liability. Insurance covers many aspects of risk, but self-insuring could be beneficial economically. Discussion of premises liability in a walk-through with your lawyer for business will allow them to offer suggestions for installing cameras in certain areas. The small investment could help your company save thousands of dollars in defense later in a bogus slip and fall lawsuit.
In the same way, including your business attorney in the planning of transactions can ensure that your documents cover all of the crucial issues. For instance, a customer of mine has developed a unique weight loss method that is designed for large corporations. Many of the customers of my client would like to know how they have achieved this level of achievement. If the client were to disclose this information, there’s an opportunity that the larger company would attempt to replicate the procedure. For this client, I recommended and created an elaborate program that would allow them to disclose their information without risking a massive breach of their confidential trade secrets.
