How Can a Lawyer Help a Small Business?

1. How Can a Lawyer Help a Small Business? Many small businesses believe that they don’t have to hire a lawyer in Melbourne especially when they are still starting up. And you can’t blame them for believing so. Most often, the importance of hiring a good lawyer is not always obvious until the time small businesses face legal issues. Small businesses with a limited budget focus their resources and time more on hiring professionals for other essential matters like marketing, advertising, and operations. Unfortunately, neglecting the importance of having a lawyer as early as the first stage of establishing a business can be more expensive and pressing. But why do you really need to hire a business lawyer in Melbourne and how can one help your small business? Find out below. Formation and Establishing of Small Business A commercial lawyer in Melbourne can help ensure that your company starts on a solid and right legal footing. Legal issues may arise in the future especially if you are forming a partnership or corporation that requires you to limit personal liability. A lawyer can also help you avoid costly and distressing future legal issues associated with the formation and establishment of your business.

2. Guidance with International Trade Law An international trade lawyer can help ensure that all international trade transactions your business gets involved with are done smoothly and following the existing international trade law, should you choose to venture on importing or exporting supplies. The import-export lawyer will also help ensure that your company follows and is in compliance with the relevant international trade law and rules. Employment Contracts Employment contracts need to be as detailed as they can be and should not only lean on one side. Companies need to ensure that everything written in the employment contract is fairly beneficial both for the company and the employees. While the existing local employment laws and regulations can serve as your basis in drafting employment contracts, a lawyer can help ensure that everything is done in accordance with the applicable law. Non-Compete and Non-Disclosure Agreements Employees may come and go. Some will stay in the company for years or even decades and some will leave. In any case, you will need to have your employees agree not to disclose any

3. confidential information regarding your company or perhaps to work with a rival company or establish their own business that can be a competition of your company, should they choose to leave or the employment period is over. Drafting solid non-compete and non- disclosure agreements can help protect your business against circumstances like these. This will require legal guidance from an experienced Melbourne lawyer. Intellectual Property Protection Your company’s intellectual properties are valuable intangible assets that require protection. Unfortunately, some small businesses, especially technology companies, fail to legally protect their intellectual properties which leads to employees and competitors taking advantage of them. Intellectual properties like copyright, patents, trade secrets, trademarks, and even customer lists can give your company a competitive edge against your rivals. You can prevent your employees (especially those who already have left your company) from handing this critical knowledge over to your competitors by having a lawyer draft a legally binding contract between your company and your employees like a confidentiality agreement. It is also important to ensure that your employees fully understood the specifics of the confidentiality agreement before they affix their signatures to it.