As your business grows, you’re going to run into some complex issues and some of those, you may need help from a legal professional. Rather than guess, or cut and paste terms and contracts you see online or other websites, it’s better often to just pay a professional lawyer to get really great advice.
A little bit of money spent on a great lawyer could save you thousands, or tens of thousands, or hundreds of thousands, or even millions down the track, if things go wrong. So if you are under threat, if you see a big problem emerging, get advice, get professional advice, get it early.
A good lawyer, if you tell them the problem you’re trying to solve, they will probably have an exposure to a previous scenario that you can leverage off. You could say, How do I stop my customers vertically integrating me and going around my back to the people I introduce them to? And she’ll say, Okay, well, I’ve seen this before, you need this kind of agreement, it is or it isn’t enforceable. These are the things you should be aware of, etc.
And just for the benefit of anyone on this call who’s interested in hiring a lawyer, usually, they will check for if there’s any conflict, like they don’t work for your competitor or anything. And then they’ll send you an agreement about fees and services and privacy and all that sort of stuff that you have to approve. And then you can get into the brief and then you’ll be given the result, and then you’ll be billed and paid for the work. That’s pretty much the process.
I’m sure there’s a few people here who have never gone down the lawyer path. But I can tell you, this is the third time today that I have talked about going to see a lawyer. It’s a part of business that I didn’t get into until later on in my own business. It was a massive part of business in the real world. We had a recruitment lawyer on retainer in the dealership, like it was that serious. And it’s really worth having good legal advice, especially in this world of compliance and contracts and so forth.
There’s a big difference between a good lawyer and a not-so-good lawyer. I’ve also discovered. And the good lawyers are really good at understanding what you’re trying to do. They’ll give you suggestions that you may not have thought of, and they’ll be proactive, and going to bat for you if a ball is dropped somewhere along the way or you get into a dicey scenario with the opposition.
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