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Many business owners are reluctant to hire a business lawyer in Mississauga or the GTA because they are trying to save on costs. And while having a lawyer is not critical to all of your business affairs, there are some very good reasons and circumstances in which having an experienced business lawyer is important and needed for your success, regardless of the cost.

Here are a few reasons as to why it is important to hire an experienced business lawyer:

Launching your Business

Even before your company gets off the ground, it is a good idea to hire a lawyer. An experienced and professional business lawyer will know the various registrations and licenses you will need for your specific type of business. They can also help you decide how to best structure your business – whether it should be a sole proprietorship, a limited liability company (LLC), a partnership, limited liability partnership (LLP), or an incorporation. They can discuss the advantages and disadvantages of each type of structure with you and help you decide which type of business structure is best suited for you.

Lawsuits

Disputes can arise in any area of your business. They can originate from customers, partners, suppliers, and other businesses. Even if the dispute happened through no fault of your own, having a good lawyer is important to help you settle any legal or contractual matters against you or your business. Once a lawsuit is filed, there are very strict timelines that an ordinary person may not be aware of. Thus, it is important that you contact an experienced business lawyer who has the necessary legal knowledge to help you and your business flourish.

Government Complaints

Are there government agencies that are filing complaints against you or your business? If this is the case, you might be facing both civil and criminal charges. In these circumstances, you will need a professional lawyer to defend your case and to help you reach your desired outcome.

Buying or Selling a Business

Whether you are buying or selling a business, it is in your best interests to ensure that the purchase agreement, applicable permits, and all other documents and agreements are all in order. It important to be able to understand all clauses and conditions in the agreements. If you are the one who is buying the business, you will also want to make sure that the company’s taxes have been paid and that there are no outstanding lawsuits or other claims against the company. Hiring an experienced business attorney will help to protect your interests.

Succession Planning

Have you considered what you want to happen to your business when you are ready to retire? Do you want to leave it to your children? Do you have partners who will be willing to buy you out? A business lawyer can help you draft the necessary agreements and contracts so that it will be a much easier and smoother process to pass your business on to your successor when it comes time to it.

A professional lawyer can also make recommendations to ensure that the proper funding is in place, such as key person insurance.

Contact Minhas Lawyers Today

With 13 years of experiences, our law firm in Mississauga/GTA has the necessary knowledge to help or advise you with any business matter. Whether your company is a large one or a small one, there are many ways that you can benefit from hiring an experienced business lawyer from our experienced firm. Contact us today to speak with a member of our team to get started on achieving your success!

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Minhas Lawyers LLP is a multi-practice law firm based in Mississauga. We advise and represent clients across various segments and practice areas.

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(905) 671-9245

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Mississauga, ON L4T 0A5