If only I had a Dollar ( I intentionally did not put Naira…you know every) for every time someone has said to me “Ah! Now that I know a lawyer I can go and cause as much trouble as I like”. Let’s just say I will be sipping glasses of pina colada on one exotic island writing this right now (But I’m not…Sigh; well not yet).

Contrary to popular beliefs, lawyers are not only useful for putting out fires and rescuing you from burning houses (or businesses). Actually, a more important role of the lawyer is to help you avoid those fires. I hope by now you understand that we are not talking about actual fires but legal problems here…okay, just checking that we’re on the same page.

The lawyer’s primary role is to help you plan and structure your affairs to comply with existing laws and also save you, as much as possible, from future legal liabilities and risks.

Businesses, as any venture has its risks. The key to running a successful venture is not in the elimination of all possible risks (which is virtually an impossible task); but to minimize risks to the greatest possible extent.

It is common to hear entrepreneurs say that they are avoiding engaging a legal adviser because they are trying to minimize costs. This is actually a contradiction. By shirking proper legal advice in building your business, you are exposing yourself (and your hard earned money) to countless legal and business risks. These risks may even absorb all of the profits you have managed to garner and also cost you your personal freedom.

Your lawyer knows the pitfalls to avoid and steers you in the right direction. He/She tells you what legal business structure to adopt, how to properly register your business and assets, helps you draft and review your terms of business relationships, helps you comply with all relevant laws and regulations that relate to your business and industry; among other things.

In other words, your lawyer helps to fortify your business interests against unnecessary leakages in terms of legal and compliance costs.

Affordable premium legal advisory and support services are available for entrepreneurs, if you need help with getting one kindly contact us and we’ll hook you up with one.

The importance of proper legal advice and support for your emerging business cannot be overemphasized. And note, as much as we try, online templates and resources may not suffice, especially where you don’t already have specialized and adequate legal training and you are seeking to apply those resources to particular situations in your business. Minimize legal risks, get legal support for your business today.