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Why Do Business Owners Need A Solicitor?

Blindfolded figure holding the scales of justice

Why Do Business Owners Need A Solicitor?

FlippingHeck.com Staff
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Running a company comes with many unique challenges, and oftentimes companies may need external support to protect their interests. No matter what industry you operate in, your business is likely to require the support of a solicitor at some stage.

There are various types of legal support a business might need, including help from a tax solicitor, an employment lawyer, or even a duty solicitor scheme, if your business is in serious legal trouble.

In this article, we’ll discuss some of the scenarios wherein your company might require the support of a lawyer. Legal assistance can help businesses in various ways, from compliance to solving disputes and boosting profitability. Take a look…

Legal Obligations For Start-Ups

When you’re starting a new business, you’ll certainly need advice from a solicitor. New businesses have plenty of legal obligations to navigate, and so it’s useful to hire a lawyer from the get-go.

Start-ups should consult a solicitor to help them to choose the correct type of business structure. This might be a limited liability company, sole proprietorship, or corporation. Companies may need legal guidance to draft partnership agreements, or articles of association.

New businesses may also require a corporate solicitor to access advice on investment, private equity or seed funding.

Business Tax Lawyers

When you run a business, paying tax can be complicated. You may need a solicitor to help you complete a company tax return, understand your obligations, or settle any tax disputes. Companies may need advice and assistance with many different tax issues, including:

  • Corporate tax, (also related to acquisitions and disposals, and mergers)
  • Property tax
  • Investigations by HMRC
  • Advice on tax efficient accounting and operations

Fraud Accusations

If your company is accused of business fraud, you’ll certainly need a lawyer to defend you. Usually, business fraud means that a company has intended to deceive an individual or organisation. They may have allegedly done so to secure assets, make money, or otherwise advance their interests.

Fraud is identified if the business deliberately misrepresented a fact with the intention of defrauding a person or company. Some common examples of fraud include tax evasion, extortion, theft, or bankruptcy fraud.

Being accused of business fraud is serious and it’s vital that a company seeks immediate help to avoid a criminal sentence.

Employment Contracts And Policies

Businesses rely on contracts and policies to govern employee and employer relationships, ensuring that everyone understands the rules and expectations. Employee contracts must be drafted according to employment law standards. Policies are important to establish the values and practices of the company.

Typical employment policies include health and safety, attendance, data protection, absence policies, and codes of conduct. Companies should consult a solicitor when drafting employment contracts and policies, to safeguard their interests and ensure smooth operations.

woman signing on white printer paper beside woman about to touch the documents

Image Source: Gabrielle Henderson on Unsplash

Employment Claims

Under some circumstances, businesses may require the services of an employment law solicitor to settle disputes and claims. Where employer and employee relationships go wrong, employees may raise claims against a company, including:

  • Unfair or constructive dismissal claims.
  • Discrimination based on race, gender, disability, or other types of prejudice.
  • Breach of contract.
  • Working conditions.
  • Disputes regarding pay or benefits.

When employees and employers are having a dispute, it’s essential that both parties receive independent legal support. An employment law solicitor will be able to support the employer to resolve the disagreement, or to reach a settlement agreement if the employee is leaving the company.

Data Protection Laws

When you deal with data and consumers it’s essential to adhere to data protection and GDPR compliance laws. Keeping up with changeable laws can be difficult, and so it’s often useful to hire third-party support (particularly if you’re caught up in a data protection dispute).

Businesses who have issues and concerns surrounding data protection would be wise to get in touch with expert data protections solicitors. These professionals can run trouble-shooting audits for business websites, ensuring that you are compliant with the relevant GDPR laws for companies.

Product Liability

Companies may need a product liability solicitor if they have been accused of selling a faulty of defective product. Even businesses who rigorously test all products can end up facing product liability claims.

Solicitors can educate businesses on their legal responsibilities surrounding product testing and selling. They can also help companies to defend themselves against defective product claims. Under most circumstances, a solicitor will be able to help a business to settle such claims out of Court.

Why Companies Need Legal Support

As you can see, there are many instances whereby companies might require legal support. Start-ups may require the guidance of a solicitor to define the structure of their company, create shareholders and partnership agreements, or acquire funding.

It’s vital the businesses follow employment law, and they may need assistance to do, so whether it’s drafting contracts and policies, or defending themselves in an employment claim.

Tax obligations can be convoluted for businesses, and so organisations may require help to comply with tax regulations. Companies may also need help defending themselves claims of product liability, or serious allegations of fraud.

For more information about protecting your business, it’s advisable to get in touch with an expert corporate lawyer.

Featured Image: Blindfolded figure holding the scales of justice by Tingey Injury Law Firm on Unsplash.com
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