3 Reasons Why DIY Legal Documents Won't Work For Your Business
It’s pretty amazing to think of all the things we do online today that would have been unthinkable just a few years ago. But just because you can do something online doesn’t necessarily mean you should. And that certainly applies to fulfilling your company’s legal needs.
Here are three reasons why do-it-yourself legal documents won’t work for your business:
One size does NOT fit all. Legal documents that are downloaded from legal form websites are essentially “one size fits all”. And your business is not like every other business out there. You undoubtedly have essential business needs that require specific provisions, clauses or amendments to the standard-issue contracts or other legal forms available now online. And you will not find the protections you need for your company in these standard forms.
The devil is in the details. When it comes to legal agreements, details matter. Even the smallest, seemingly innocuous detail left out of an agreement can come back to haunt you in terms of litigation or penalties. And since you won’t know what to look for, you can’t prevent these small errors that can cost big bucks.
Good legal advice can be priceless. Experienced business attorneys not only know what to look for now, they can also foresee potential problems that could create havoc for your company. A good business lawyer can save you thousands by providing solutions that will protect your business and keep you in compliance. Plus, by fostering a relationship with a real, live attorney, you have someone looking out for you who understands your business and can advise you as the need arises.
It’s the relationship, not the document, that matters. One of the most important part of getting a legal agreement in place is to see how the person you are creating an agreement with interacts with you through the agreement process. If the process goes smoothly, great. If not, it’s an early sign that you don’t want to move forward. When you have a legal advisor involved who knows how to utilize this process to vet your relationships, you’ll save tens of thousands, hundreds of thousands or even more down the road.
If you’re a small or mid-size business owner and would like to learn more about a LIFT™ (legal, insurance, financial and tax) Foundation Audit, call our office at (281) 407-9830 and mention this article.