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Why Do I Need A Solicitor?

There are many answers to the questions ‘why do I need a solicitor’, and the answer can change depending on the circumstances. To be clear, in this instance we are talking about a very specific situation, and one that not everyone thinks about. In this post we explore why you might want to hire a solicitor before you start up your own business.

09 October 2015
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Protecting Your Intellectual Property

If you are thinking of starting up a business that involves any kind of unique products, patents, trademarks or copyright its always a good idea to get a solicitor involved at the outset. By setting up the right safeguards the beginning you can protect the intellectual protect you are building your company around, which can sometimes be an incredibly complex process. Getting your strategy and advisors for intellectual property protection set up in advance will serve you well I the long run, and could ultimately save you time and money as well.

To Research Regulations

Starting up in business can be difficult, and more often than not mistakes are made. Most of the time these are harmless little mistakes that don’t cause too much of a disturbance, but sometimes they can be disastrous. So before you head into the world of business, make sure you know the laws that apply to your industry. For example, if you are in the travel industry you need to understand the regulations you must abide by and how much it will cost you to implement them. Often business owners don’t have the legal knowledge or time to investigate these avenues, so hiring a solicitor is the best way to go.

For Tax Advice

The tax regulations around business are at best confusing and at worst a swamp of rules and subclasses that can be impossible to navigate alone. Instead of struggling through your yearly tax returns or working out what you can expense where, or what process you should use, a professional solicitor can help you figure out whats best for your business while keeping the tax man happy. Hiring a good solicitor helps find your way around and can save your business a significant amount of money.

To Go Through Legal Structures

Once you have an idea for your business, its important to chose the right legal structure for your business. This element of set up isn’t as straightforward as you might think, and each legal structure comes with its own advantages, disadvantages and reams of paperwork. An experienced solicitor can provide you with advice and help you chose the best structure for your business before helping you set it up.

To Help Gain Access To Finance

Depending on the size of your business and the complexity, it can sometimes be difficult to gain access to funding on your own. Hiring a solicitor can help you on the route to finance and open some doors that would otherwise be unavailable to you, particularly where financiers want a stake in your business in return for their investment.

Help with a Business Premises

In the event that you're negotiating or renewing a commercial lease, our commercial property lawyers are well-versed in all things property law. 

For more information on what a solicitor can do for you, please get in touch to speak to one of our dedicated team today.