In the spirit of election season lets rate this statement: “half true”. You absolutely do not need an attorney for every decision you will make as a business owner. That is not functional or even necessary. Most of what you do will happen independent of legal advice. Still, every business needs to be connected with a business attorney.
Attorneys do a lot more for a business than just help when they are in trouble. Your business attorney should be a partner in helping you achieve success, not just a phone call you make when you get a demand letter. The real goal is to keep your business out of any legal trouble in the first place! If you sign contracts, pay taxes, hire people, have business partners, operate within legal regulations, have intellectual property, or any of the myriad of other aspects of running a business, you should have an attorney that you can turn to for quick advice or to look over those contracts for you.
I know what you are thinking, if every business needs an attorney, why do so many not have them? Put simply, it usually comes down to the budget. In my experience, most business owners know they need a good attorney. But lawyers can be expensive, and it is hard to justify the cost when simply reading and signing a contract is otherwise free. The challenge here is that you can sign 25 contracts and only ever have one issue, but one issue can be enough to wipe out a business. Even knowing that, it doesn’t change your budget.
Today I challenge you take one simple step. If you own a business and don’t have a business attorney, at least take some time to explore your options. A little research doesn’t obligate you to anything or cost you anything but time. Moreover, you might be surprised to find that a good business attorney is likely within your business’s reach.