Where To Focus Your Legal Budget?
Legal requirements are all about protecting your business against risk in the legal arena. This comes into play in terms of contracts, intellectual property, structing your business, leases, employment and collections.
Contracts FREE to $1000
Contracts with suppliers, customers, channel partners, and any other relationship with a third party need to be dictated by a written agreement. Find some templates to help your company start out.
Always go to a lawyer when the risk of not going outweighs the cost.
Structuring Your Business FREE to $1000
Setting up your business can involve incorporation, partnership agreements, and other formal agreements upfront.
If you want to set up a sole proprietorship, this is something that you can do quickly online in Canada:
If you set up a corporation or a partnership, it can help to do it correctly from the start with a lawyer.
Intellectual Property FREE to $300,000
Intellectual property includes copyrights, patents, trademarks, industrial design, and trade secrets. Learn about each type and some of the considerations. Information provided by a leading Canadian law firm, Miller Thomson.
See the video on Protecting Your Business’ Intellectual Property.
Leases often have a long term impact on a business as it is reliant on the location. But at the same time, a business owner wants terms that are fair. Having a lawyer take a second look can help. Using a paralegal is a lower cost approach.
Hiring employees can result in additional legal and financial implications. Often it is best to ensure that you are meeting your obligations prior to hiring your first employee when it comes to recruiting, hiring, payment, vacation, and termination. A lawyer can help through these steps.
Collections $600 – $2500
Collecting from customers can be a challenging and emotional exercise for a small business owner. Using a paralegal for amounts under $25,000 will help on saving on your legal bills.
See the video on How To Collect From Customers.