For an entrepreneur a company is a living organism, which is affected by the owner or partners’ decisions and depends very much on the context in which it is created and grows. The management of the economic area is fundamental because it defines the muscle with which the company responds to the day to day activity, small business legal services act not only as a problem-solving factor, but it is fundamental when it comes to avoiding them, which allows the entrepreneur to focus on the strictly productive or commercial activity. In this piece we present you some reasons to have small business legal services to watch over your company.
Protection of personal assets
No entrepreneur starts a project with the idea of failure in mind, but taking precautions in this area is very important if you do not want your assets to be affected by your business’s loss. Business law is more protective and more demanding about the liability of corporate administrators and good governance, opening the door to their assets if they fail to comply with the principle of loyalty in the company’s management or administration.
This makes it essential for the businessman to be aware of the business model he has adopted and of the corporate liability of each of the partners and its consequences, since not only the assets of the company are at stake at the time of an unfair administration, but also the own assets may cover the liability for damages caused to the help of third parties. Before the possible conflict and after it, the small business legal services are fundamental to avoid the damage of such inheritance.
Relations with third parties
Perhaps not crucial for success or failure, but the relationship with neighbors, landlords if the property is occupied for lease or with other nearby businesses is also significant and may have legal consequences for the entrepreneur. The excellent relationship with all of them and taking the necessary precautions can save future problems. It is essential to know the rules of horizontal property in the appropriate case and keep in mind the conditions set in a possible lease.
If the conflict has broken out, legal advice will be essential to ensure the employer’s rights or to minimize the consequences in case of breach of legal obligations or commitments. A conflict between neighbors can be a headache that can ruin all efforts.
The link with the parent company and the rights and obligations arising from such association, the percentages of profit to be obtained from marketing, exclusivity in terms of product, data protection of the company and the product and its formulas, respect for the image, advertising campaign or contents are some of the points of possible conflict in the relationship between franchisor and franchisee. This situation makes the small business legal services fundamental in terms of rights, obligations, margin, and possibilities for the small entrepreneur. In this contractual relationship, he is the weak party.