Can You Afford Not to Get Legal Help?

Clients have often told us that although they need legal help with their business, the cost, process, or time commitment just seems too daunting. We get it. Trust us. Starting a business is one of the most difficult undertakings you can tackle and getting bogged down in the legal weeds is hardly the spark that lights a fire within an entrepreneur. While listening to a podcast recently, Brian Chesky, Founder of Airbnb, talked about how he funded the company with credit cards. He literally started the company with one of those binder’s kids put baseball cards in, full of credit cards. [Side note – this is not recommended.] My point is, every business has the challenge of funding and cash flow. Every decision has a direct relationship to money leaving your bank account. When you fight as hard as you do to bring the revenue IN, make sure you are being very careful about how money goes OUT. Deciding how to grow and protect your business is a matter of priorities.

 

We understand Start-Ups.

Pressures come from all different angles. Time and money are a luxury. Acquiring customers, professionally delivering your product or service, and delivering superior customer service are just a few of the burdening tasks that fall upon the shoulders of an owner. The problem with investing in legal services is that there is no pressing need. Typically, entrepreneurs are reactive, not proactive when it comes to legal issues. An employment agreement is not a priority until there is an issue with your employee or independent consultant. Trademarks fly under the radar until you receive a cease and desist letter from another business for infringing on their fair use.

Hear me out, I know that time is an ultra premium commodity in the life of an entrepreneur. But so is cash. Briefcase requires you to put a small amount of effort in understanding the contracts and documents you need, and learning now to use them in your business. Briefcase doesn’t stop there. We are your legal resource to answer your questions on the fly, when you need it with no additional fees for our guidance. Briefcase can’t replace an attorney, but can help move you down the track. If and when you have more complex needs, we have you covered there too. We will let you know and provide flexible options for getting custom, professional advice.

 

Why might I need a business attorney?

The role of a transactional business attorney is to plan for the future, see the potential pitfalls and protect your interests before the problems occur.  Once you are served with a lawsuit, of course, you immediately feel the need to hire an attorney but it’s likely already too late. Then comes damage control. At that point, it will be a waiting game to see how much you will have to pay in court costs, legal fees, settlement amounts, and other expenses, which could have easily been avoided by acquiring legal advice early on.

The truth is that the majority of documents and other legal aid, especially early in the process, can be done quickly, effectively, and cost efficiently. A business attorney can provide business and legal advice while also offering potential networking connections that are invaluable to new businesses. This is an advantage that only seeking legal advice from a transactional corporate attorney will provide.  Legal advice is crucial for situations including clear and concise contracts, proper trade secret and intellectual property strategies, licensing strategy and documentation, website and other online requirements.

 

Size DOESN’T matter.

Regardless of the size of your business, it is subject to the same laws and regulations that apply to fortune 500 companies. Most owners are busy with operating the business without considering the legal implications or necessary protections. The difference is, major corporations have the personnel and funds to stay compliant and protect its business interests. Finding cost effective legal solutions that fit your needs ensures proper protections will be in place laying the foundations, enabling you to reach your potential. As technology and business evolves, so do the complexities. Staying on top of all the fine print and operations involved in conducting a business is a necessity and can come at a more affordable price. Risk maintenance is essential for the success of any small business ownership.

 

No Questions, Only Solutions.

Briefcase is designed to fill in the gaps between idea creation and substantial positive cash flow. Offering the basics you need to achieve proof of concept and grow your company without spending all your cash on legal fees. Our mission is to provide legal solutions for Start-Ups, small and medium size businesses at an efficient, affordable price. We are working hard to deliver innovative solutions for legal matters, cost structure and efficient customer experiences to help you realize your mission. In the podcast I mentioned earlier, Brian Chesky also noted that being creative and super scrappy has become a culture of Airbnb. This process seems to be working for him, so our advice to you:  Stay scrappy.

 

Question: Do you have an idea or business with a passion that burns inside of you like Brian Chesky did? So much so, that you are financing the costs with either (1) credit cards or (2) thinking about doing so. How are you planning your next moves to minimize your risks?

Launch. Grow. Protect.
BRIEFCASE© 2019
This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business advisor or tax advisor with respect to matters referenced in this post. Briefcase assumes no liability for actions taken in reliance upon the information contained herein.