BUSINESS MANAGEMENT - LEGAL

This is the 21st of a series of newsletters published on Business Management and Management Skills. Not all topics will apply to your business, but each section will be beneficial to establish company goals and objectives. By reading and studying these newsletter articles, you’re taking the first step in achieving your goals.

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As a business owner, there are many areas concerned with legal affairs that you should have a basic knowledge of. Attorneys possess not only knowledge of the law and the courts, but legal advice as well. Advice can be divided into three types: good, bad, and free. Free legal advice can be worth just what you paid for it. Lawyers (both yours and the other guy’s) are expensive. Be prepared before you bring in an attorney; learn a bit about the laws that relate to business.

It is suggested that you enlist the aid of an attorney when preparing contracts and other legal documents. They know the specific words and terms that must be included in order for you to come out on top in a court of law. Ask your advisors for the name of a good attorney, get to know your attorney, and develop a solid business relationship. If you don’t have confidence in your attorney’s ability to fight for and defend you, then you need to find another one. The following are some basic recommendations relative to legal business affairs:

Mike Holt’s Comment: This newsletter article was extracted from Mike Holt’s Business Management and Management Skills’ Workbook. Watch for our next newsletter, and as always, we invite your comments and feedback. Send us your real-life experiences. We value your opinions and participation. Please respond to Barbara at bjparks@atlantic.net. And… be sure to visit Mike Holt’s Website at www.mikeholt.com

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