In life, prevention is nearly always better than cure. But some businesses think a commercial lawyer is akin to a firefighter – someone only to call when there’s a crisis.

However, a good lawyer can provide legal advice on almost every aspect of your business, anticipating problems before they arise. They can clear up ambiguities and protect your interests, so you can steer clear of expensive legal disputes.

As such, the cost of a commercial lawyer is nothing compared to the money they can save you in the long-term.

So, don’t consider a commercial lawyer as an expense to be avoided. Rather, think of it as an investment in your continued business success.

Here are four reasons why having a lawyer on board benefits your business:

  1. Can get you better contract terms, saving you money

Signing contracts is part and parcel of being a business owner, with several likely crossing your desk regularly. But before putting pen to paper, it’s generally advisable to get a lawyer’s input first so you don’t unwillingly commit your business to unfavourable terms.

And when it comes to drawing up your contracts, a good lawyer can help you think of possible contingencies so your interests are better protected, whatever comes to pass.

  1. Can help you protect your assets if things go sour

 If the worst happens and your business doesn’t perform as it should or gets sued, you don’t want to lose everything you’ve worked so hard for. A good lawyer doesn’t just have your business’ best interests at heart – but yours too.

They can help you take the necessary steps to protect your business’ and personal assets from creditors including:

  • Setting up the right business structure to reduce risk
  • Transferring ownership of property
  • Ensuring you have the right insurance policies in place
  1. Can help you settle disputes before they end up in court

Getting sued isn’t just expensive. It’s also a stressful and unpleasant experience. Unfortunately, one of the risks of being a business owner is facing legal concerns which end up in court. This could be anything from a dispute with a supplier to the threat of litigation from a disgruntled employee or customer.

However, a costly lawsuit isn’t always inevitable as there are steps you can take to diffuse the situation before it goes to the courtroom. As such, a good lawyer’s advice can save you considerable money and stress.

  1. Can save you from making mistakes that come with costly penalties

 Being a business owner is stressful enough without the constant worry of compliance issues. A good lawyer will give you the advice you need to stay on the right side of the law. This means you can avoid potentially damaging regulatory issues while still focusing on what matters most: growing your business.

Want a good commercial lawyer in your corner? At Sutton Laurence King, we know that working with business lawyers can often be costly, complex and confusing. So, we’ve committed to being different. If you’ve got a question or a legal issue to discuss, call us on 03 9070 9810 or email info@slklawyers.com.au.