Experienced chief legal officers & law firm partners from Forbes Legal Council offer firsthand insights on legal issues.
From the day you first open the doors to your new business, having an attorney you trust to help you navigate legal issues is crucial. Whether they’re providing guidance on intellectual property or helping you craft an important contract, an attorney can help you shore up many areas of your business, especially as it grows.
Below, seven chief legal officers and law firm partners from Forbes Legal Council discuss seven situations in which business owners can benefit from legal expertise.
Clockwise from top left: James Goodnow, Matthew Digesti, Anthony Johnson, Matthew Moisan, Rachel Rodgers, Lawrence Buckfire, Dan Hussain. All photos courtesy of the individual member.
1. Legal Dangers Hidden in Your Website
Having a strong web presence is no doubt part of your plan, but what you may not know is that potential liability is only a few clicks away. If you’re gathering consumer information, make sure you’re in compliance with privacy laws and regulations. Every website needs to have its terms of service carefully examined. Pennies saved now can cost the entire business later if not handled correctly. – James Goodnow, Fennemore Craig, PC
2. Intellectual Property Ownership
We have all heard the (partially accurate) story of Facebook . Who owns the idea? This is a central issue that must be dealt with at the beginning. The longer you wait, and the more valuable the idea, the more complicated and expensive the issue becomes. Hire an experienced IP lawyer right away, spend a little money, and rest easy knowing the company owns all of the IP. – Matthew Digesti, Bristlecone Holdings
3. Non-Legal Business Advice
Many business decisions do not immediately seem to have legal aspects, and for that reason, entrepreneurs fail to seek legal advice. Almost every strategic decision you make as an entrepreneur exposes your company to legal risks. Find a business savvy lawyer that cares enough to advise you on these decisions even if it is a few minute phone call most of the time and not a large billable matter. – Anthony Johnson, Johnson & Vines, PLLC
4. Strategic Planning
Build a relationship with an attorney who wants to understand your business. Next , involve that attorney in strategic planning discussions. This will allow the attorney to be proactive in recognizing potential risk and assist in structuring future business opportunities. – Matthew Moisan, Moisan Legal PC
