By On Jan 05, 2019 Form Template
Every penny counts for startups and small businesses, but some companies try to save money by neglecting to draw up contracts or to seek legal advice. This is penny wise and pound foolish. In the long run, your attempt at savings can cost your company, both in the event of legal action down the road and in lost opportunities.
While your frugal sensibilities may also be used to steer clear of uncharted waters to avoid risk, lawyers who have navigated these seas before can help you maneuver around legal pitfalls—and guide you to greater payoffs. This could include drafting your articles of incorporation, invoice terms or even how you budget. In today’s market, finding and paying for legal advice has become much easier.
If the transaction is for a large amount, the cost of an attorney to draft a document is relatively small compared to the cost of losing money in the transaction. However, if you have basic needs, such as requiring standard employment contracts, it obviously makes no sense to spend hundreds (possibly thousands) of dollars hiring an attorney to draft the contracts.
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