While it may be tempting to cut costs, you should not. There are many good reasons to hire a solicitor, and each one is important in its own right. Here are just five:
Estate planning
An estate planning attorney can help you devise an effective estate plan that is tailored to suit your particular circumstances. Your family’s current situation will determine which assets and debts should be passed down. You may wish to consider updating your will or other important documents in order to keep your family’s assets secure. In addition to drafting your estate plan, a solicitor can advise you on the latest legislation and assist in settling tax liabilities.
Without a proper estate plan, taxes and death duties will eat up your estate. Having a solicitor prepare an estate plan is essential for your loved ones. By creating a will that is legally valid, you can make sure your loved ones will receive their inheritances without any disputes. The attorney can also help disperse your assets by creating trusts or establishing small gifts. This way, your loved ones will not face any challenges from taxes or other government bodies.
Intellectual property
If you have an idea for a new product or service, you should definitely get it protected. Intellectual property attorneys will advise you on the correct techniques to protect your idea. This can include design patents and trade dress protection. You may also need to consider registering a trademark to protect your product. In this case, a solicitor with expertise in intellectual property law can help you with this process.
While statutory law remains the same, IP law is constantly changing. Judge-made decisions are constantly developing the law on this complex area. Not all of these decisions are published in public space. Furthermore, intellectual property rights can cross country boundaries and must be taken into account across other bodies of law. This can make it more difficult to export work. It is best to seek legal advice from a lawyer if you are planning to export your work abroad.
Intellectual property protection
Whether you’re a startup or an established business, protecting your intellectual property is a must. If you don’t protect your ideas, your competitors will steal your customers and market share. Not only can this cost your business a lot of money, but it also takes up valuable time. It can be difficult to prove that someone is using your ideas without your permission, and you don’t want to waste time chasing down infringers.
When deciding to hire a solicitor to protect your intellectual property, it’s important to remember that IP protection is an intangible asset, and is not registered. The protection lasts for only as long as you take measures to prevent disclosure. For example, you can restrict employees’ access to confidential information through nondisclosure agreements and post-employment restrictive covenants. You can also use intellectual property protection to protect your company’s brand and overall long-term viability.
Business law
A solicitor works for you, providing legal advice on all aspects of your business. A good business attorney will know everything about your industry and can give you advice on legal matters. A business owner has many responsibilities and oftentimes will have to deal with difficult situations. A solicitor can help you navigate these situations, making them less stressful. Here are some business law reasons to hire a solicitor:
A lawyer can advise you on important matters such as intellectual property, ensuring that you have the right insurance coverage, and drafting shareholder or partnership agreements. A business lawyer is an essential part of any business, and you cannot do it yourself. A lawyer can also help you with compliance with federal, state, and local laws. Hiring a business lawyer is a wise investment and the return is significant. A business attorney is a smart choice for your company and can help you avoid the many pitfalls that often plague businesses.