When you run or start-up a business there are many challenges that you often have to face. When those invoices go unpaid, employees don’t pan out and agreements need to be attended to and drawn up – who do you turn to and who to ask?
The high cost of legal advice could be crippling. Legal insurance is managed by qualified legal and insurance professionals.
Packages usually include unlimited access to 24-hour call centres where clients are able to get legal advice and access to standardised legal documents.
Shop around to find the kind of legal insurance as this can mean the difference between your start-up business being crippled by legal fees or your start-up enterprise having access to affordable legal assistance at a nominal monthly premium.
Most matters that are included are:
- Criminal issues.
- Disagreements with insurers, service providers and suppliers (this is where it is especially useful to have legal insurance).
- Contractual claims.
- Tax and similar issues.
- Bail applications (your driver might be arrested).
- Uninsured loss recovery.
If you and your start-up business needs legal advice today, you need to ask who could you turn to and who would you ask? But the real question is would you be able to afford legal representation to defend the interests of your business.
Not choosing to go the legal insurance route and choosing your own legal representation will mean that:
- One of the best assets a new business owner can have is a strong team of advisors and an important player will be your attorney.
- When would you need the services of a lawyer? Although the answer will depend on your type of business and your particular set of circumstances, it is generally worth your while to consult a lawyer before making any decisions that could have legal inferences.
- These usually include setting up partnerships or businesses, inspecting compliance regarding certain by-laws, negotiating loans, procuring trademarks or patents, arranging buy-sell contracts, support tax planning, drawing up pension plans, reviewing business forms, negotiating and drawing up documentation to buy and sell property, reviewing employee contracts, exporting or selling goods overseas as well as collecting bad and outstanding debts.
- Should something untoward occur, it is a good idea to have an attorney to back you up for your trademark rights, go to court to represent an employer plus the handling of numerous other legal issues you might need for representation.
In a crunch you might not have adequate time to thoroughly research different legal options. The chances are that you will end up flipping through the yellow pages or Googling attorneys and the in all probability you will end up with a second-rate attorney – it is far better to start off the right way on the right foot by selecting an attorney with a good track record from the beginning.