Benjamin Franklin famously said that “An ounce of prevention is worth a pound of cure.” The documents you create and use for your business should be reviewed by an attorney to prevent legal and financial issues later.
In this article, Daniel Ross will discuss a couple of reasons why having an attorney review your business documents is a good idea.
1. A Fresh Set of Eyes with a Legal Perspective
For many small business owners, business is personal, and their passion can spill over into how they draft their business documents. This can lead to documents being one-sided and unnecessarily restrictive to the point that it can put off potential customers. There are other situations that the language used can be too vague and does not protect the business owner or the customer.
2. Documents Are Unique to Your Business
The internet age has made so much information available, but that is not always a good thing, especially when it comes to do-it-yourself business documents. We’ll go back again to Benjamin Franklin’s quote here because using business documents that are not unique to your business can cause a lot of issues. It can be seemingly easy to adjust another business’s document by making it your own, but a review by an attorney can be worth a pound of cure here as well.
3. Protecting Yourself from Yourself
Some businesses put themselves into legal issues with their documents because they don’t know what they don’t know. If you are not an expert on contracts and business documents, know your limits and know when to ask for help. The same goes for some attorneys, especially if contracts and business documents are out of your purview.
4. What State am I In?
This one is particularly important as a warning for the do-it-yourself crowd that borrows documents they find online. We can’t stress enough the importance of reading, understanding, and being able to explain your business documents.
Make sure you know the State and Local jurisdiction your document references. If your business is primarily in Cuyahoga County in Ohio and your business documents say Miami-Dade County, Florida, you have missed the mark!
Learn More About Daniel Ross and Associates
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All the best,