Whether you are at the beginning of your entrepreneurial pursuits or you have been in business for a while, there are some tried and true strategies every business owner should implement in their respective playbooks. One avenue you may not have considered is the legal aspect of any business and how it can impact your operations. Continue reading to learn how adopting these legal strategies in your workplace will help you.

How your business is structured can affect everything from how you pay taxes to what you can and cannot do as a business. It is an essential business practice for you to work with a solicitor who is well-versed in both the type of business you run and your goals for the future, such as expansion into a larger business model or making a foray into international trade.

Beyond products and services, paperwork and paper trails - whether they are traditional hard copies or digital ones - are at the core of any business. Consult your solicitor to guide you in establishing the correct documentation for anything from standard loan paperwork checks and balances to articles of incorporation and business contracts. Employee handbooks and general operating practices all require formalised documentation that a qualified solicitor will enact for your business.

If you have gone into business with one or more partners, the initial intentions and collaboration efforts may have been grand. Unfortunately, bumps in the proverbial road may occur without notice. Protect your interests and those of your partners by working with a solicitor to legally formalise your partnership. Address everything, including agreements that specifically target formal and informal roles, decision-making responsibilities, interests, and equity. Also include off-ramps for when one partner wishes to leave the company or passes away. 

Your business is easily recognisable due to your efforts to brand it in the public eye. You do not want anyone else stealing your unique design, logo, and proprietary content. Any assets you hold and your company’s intellectual property must be legally protected. Your solicitor will walk you through the process and take the necessary steps to ensure your protection under copyright infringement, licensing agreements, collaborative marketing strategies, and trademark laws, to name only a few instances that require your attention. 

Any successful business, such as yours, must have a solid legal foundation that can only be attained with the help of skilled solicitors who are experts in their field. Establishing a relationship with the right solicitors at the inception of your business endeavours is essential to ensure you are operating under the full protection of the law for everyone involved and to secure your creative assets.