Why You Must Hire A Corporate Lawyer For Your Startup
Corporate Lawyer – an attorney who specializes in the corporate laws of Singapore and who has a client list including small local businesses and large multinational corporations. As the owner of a startup business, you may think that hiring a corporate attorney is akin to putting the cart before the horse because your business is not yet in the league of established businesses including single proprietorships, partnerships and corporations. You may even think that hiring a corporate advocate will just be a waste of money, which you can use for other purposes.
Why Hire A Corporate Lawyer Early On
Even during the startup phase of your business, there are two third-party professionals you must get on board early on, namely, an accountant and an attorney. Although the reasons for hiring an accountant are obvious, the case for an attorney is not so apparent.
But when you come to think of the aspects in running a business where a corporate lawyer is crucial to your success, you begin to see the critical importance of the professional in your business. These aspects include but are not limited to:
• Decision on the type of organization (i.e., corporation or limited liability) suitable for your goals
• Preparation of written contracts
• Negotiation of contracts in real estate, investments and other areas
• Registration of the business
• Transactions related to tax payments
• Handling of intellectual property rights
Indeed, a corporate attorney complements the professional services rendered by accountants. You may even find law firms where CPA-lawyers can render the services of two professionals for the price of one, so to speak.
How To Deal With Your Corporate Lawyer
When you have the best possible lawyer on board, you must treat him as an equal in the sense that he is also a partner in advancing your business interests. A few tips:
• Provide your lawyer with the required documents so that he can prepare ironclad contracts, negotiate for the best deals, and defend your rights, among others.
• Communicate with your lawyer in an honest manner. Your honesty will go a long way toward establishing a productive relationship.
Indeed, the best corporate lawyer can only do his job if and when you, his client, will deliver on your part of the bargain.