Owning a business, no matter the size, can bring along with it some legalities and obstacles that you would never have to face if you simply worked a regular job. As a small business owner, it is easy to assume that such obstacles will not be so big that you can't handle them on your own. However, just as it is with larger corporations, there are some pretty scary situations that can mean hiring a business transaction lawyer would be in your best interest. Here's a closer look at some of the problematic situations your small business may experience that would require professional guidance from a business transaction attorney.
You run into a conflict of interest situation with your business operation.
Perhaps you promoted an employee who is also a relative. Maybe you landed a good marketing deal because of your personal relationship with the owner of the firm. If someone is upset because something happened in your business model that is relative to a conflict of interest, there could easily be legal repercussions down the road. Therefore, it is best to consult a business transaction attorney any time there is a potential for a problem to arise.
You find out you have violated another entity's copyright or trademark.
Perhaps you created your own company logo or named a product or service something creative only to find out later that you are being penalized due to copyright or trademark laws. This is definitely a scary place to be in as a small business owner. When you violate a copyright or trademark of another entity, it can bring about everything from fines to lawsuits, and you may even be facing changes in your entire business model. If you ever find yourself in this position, a good business transaction attorney is definitely someone to consult.
You discover you are facing a major conflict with a customer or client.
Keeping customers happy with your service is the top focus for most business owners. But when things go awry and a customer is displeased, things can get really ugly, and scary for you. A disgruntled customer or client can cause an explosion of bad things, down to lawsuits, bad press, and damage to your business in general. Bring in a business transactions attorney to help you settle any bad situation with a disgruntled, dissatisfied customer when you think the situation could escalate to something worse.