One of the most common, and potentially disastrous, mistakes made by entrepreneurs and even seasoned business owners is failing to invest in legal advice and guidance on the front end of a deal or venture. Instead, they wait until something goes wrong to consult with an attorney.
As discussed on the SharkPreneur podcast, Tampa Bay business law attorney Jeffrey Lieser urges anyone involved in starting or operating a business to think of early legal intervention as insurance for their business. Just as you purchase insurance to protect your business against losses from theft or damage, you should also do what you can to protect against legal disputes that could lead to expensive and time-consuming litigation. The complex nature of business transactions makes it likely that you will be involved in a dispute at some point. That dispute could cost you and your business crucial time and resources and may even lead to the failure of your business. While there may not be a way to prevent all business disputes, you can certainly prevent some disputes and limit the financial repercussions of those disputes you cannot prevent. Consulting with an experienced business attorney before you enter into a contract, form a partnership, or embark on a business venture is the best way to decrease the risk of disputes and mitigate potential damages when a dispute does occur.
Consult the Tampa Bay Business Attorneys at Lieser Skaff Alexander
If you own a business, or you are a potential entrepreneur, remember that early law intervention is the best way to protect the time and money you have invested in the business. Having an experienced business law attorney on board from the beginning of any business transaction or venture should be every bit as important as purchasing actual insurance for your business.