Involve an attorney in your business dealings.

[Alpha Marine]

A lot of people make the mistake of signing contracts or making business deals without involving a lawyer, which is not very prudent.

In whatever deal or contract you're getting into, make sure your lawyer is aware of it and make sure he/she has gone through the contract and gives you the go-ahead to sign before you sign, even if you feel you understand the contract very well.
It doesn't matter if it's a start-up, expansion, acquisition, selling of an asset or business, signing for a firm etc. Anything at all that involves you or your business and another party carrying out a business transaction.

Another mistake people make is not defining and understanding the terms of the contract before signing. This is where lawyers come in handy. You're not expected to know every business law, so there are a few details you might miss, details that can be against you in the future. Also, laws differ from region to region, so a law that favours you in your region may be against you in the region where you're doing business.

Some people involved a lawyer when things have already started going south. This is also not wise. Having a lawyer from the beginning may protect you from trouble.
It's okay if you can't afford the most expensive lawyers or firms to represent you or your business, but just make sure whoever you're hiring is competent enough

Five reasons you should involve your attorney early in your business transactions.

1. To Solve Problems in Advance
2. To Make Due Diligence Easier
3. To Reduce Last-Minute Time Burdens on Your Team
4. Because “Business Terms” are Not Just Business Concerns
5. Because Hiring Them Earlier is Probably Not Going to Cost Any More Than Hiring Them Later
Read more details here

[Lida93]

The importance of an attorney in today's business activities can't be overemphasized with the nature of the business environment becoming more competitive with every tick-tock, businesses or firms ensuring to protect their interest and compliance from other party's in business not to unscrupulously want to take a smart advantage  of another in contracts and, in avoidance of possible legal hassles and litigations in the future for a successful business, it then makes an attorney's presence a necessity. There's that likelihood of people not overriding you in a matter when they are with the awareness of an attorney standing behind you - it makes procedures to followed in the way it should.

[Coin_trader]

It depends on the amount you are dealing and how big the business we are talking about. Legal fee is insane depending on what type of service you are  using them. For SMES hiring lawyer might cause a lot and your balance sheet might suffer for a partnership or deal that doesn’t involve not huge amount of money.

This can be solved by doing a partnership on a highly reputable person so that you can skip the lawyer part.

But in high value business li,e we are talking about millions then lawyer is always a must to protect your assets in case on of your partner turn rouge.

[pinggoki]

It depends on the amount you are dealing and how big the business we are talking about. Legal fee is insane depending on what type of service you are  using them. For SMES hiring lawyer might cause a lot and your balance sheet might suffer for a partnership or deal that doesn’t involve not huge amount of money.

This can be solved by doing a partnership on a highly reputable person so that you can skip the lawyer part.

But in high value business li,e we are talking about millions then lawyer is always a must to protect your assets in case on of your partner turn rouge.

It doesn't matter in my opinion, as long as there's money involved in the deal, you don't want to be the sucker that will not have the lawyer and end up getting duped by your partner because you didn't read the contract because the value wasn't that a lot. Also, just because they're a reputable person to be partnered with, that doesn't mean that you can trust them. No matter how much the money that's involved in the contract, if you sign it without your lawyer and someone that's a part of that contract messes up, it's still grounds for lawsuits and more of your money being spent on the lawsuit because someone tried to brush it off as thinking that the small amount of money will not really hurt or anything like that, as much as we want to cut corners when it comes to using lawyers, the value you're getting at them is just phenomenal.

[X-ray]

this is truly essential if someone really trying to make business deals and we are talking about some not measly amount of money where if you just not diligent enough to know that there's term that can cut you off your rights you gonna get in the losing side later on.
there's always reason why the big company always have legal department because they know that every business need someone that knows well about law and will oversee the legality from many aspects, you know sometime some people just ignore the importance of lawyer to skim through their contract to save some pennies ended up in unfavourable side because they don't even understand what they are signing.

spending some additional money is worth it for anything that involves large amount of capital, only people that have thoroughly learned about law will know that some term is trying to give advantage to the contract maker.
to be fair you can always use AI these days but its not guarantee, just letting AI do all the work will never give you high accuracy of how fair the contract is, some AI only fed with outdated data, regulation always changes, the AI can be outdated.
its always good to have someone help you take care of the law and regulation related thing even more so if that person is knowledgeable about the law and keep being updated.
but yes you gonna spend some additional money so always take that into account.

[uswa56]

The importance of an attorney in today's business activities can't be overemphasized with the nature of the business environment becoming more competitive with every tick-tock, businesses or firms ensuring to protect their interest and compliance from other party's in business not to unscrupulously want to take a smart advantage  of another in contracts and, in avoidance of possible legal hassles and litigations in the future for a successful business, it then makes an attorney's presence a necessity. There's that likelihood of people not overriding you in a matter when they are with the awareness of an attorney standing behind you - it makes procedures to followed in the way it should.

This really depends on how much money you want to transact, because hiring a lawyer is not an easy matter and will also cost a lot of money, so if we want to spend a lot of money, it's better if we have a lawyer beside us, because with them it will be very useful for us in reading and understanding the contract that we will be handling, so that if there are errors in the contents of the contract, someone will reprimand us not to do that.

However if on the contrary the money we spend is not too much, it is better in this case not to use a lawyer because it will be a waste of your money, it is better for you to go with your family in this transaction.

[Lida93]

The importance of an attorney in today's business activities can't be overemphasized with the nature of the business environment becoming more competitive with every tick-tock, businesses or firms ensuring to protect their interest and compliance from other party's in business not to unscrupulously want to take a smart advantage  of another in contracts and, in avoidance of possible legal hassles and litigations in the future for a successful business, it then makes an attorney's presence a necessity. There's that likelihood of people not overriding you in a matter when they are with the awareness of an attorney standing behind you - it makes procedures to followed in the way it should.

This really depends on how much money you want to transact, because hiring a lawyer is not an easy matter and will also cost a lot of money, so if we want to spend a lot of money, it's better if we have a lawyer beside us, because with them it will be very useful for us in reading and understanding the contract that we will be handling, so that if there are errors in the contents of the contract, someone will reprimand us not to do that.

However if on the contrary the money we spend is not too much, it is better in this case not to use a lawyer because it will be a waste of your money, it is better for you to go with your family in this transaction.

Hmmmm... Hiring the services of a lawyer is not that much of an easy deal as some of us are expressing, just as the op said, you go for the lawyer that your money can afford it mustn't be an expensive one but who is still competent in his field. The problem with some growing business claiming not to be able to afford a lawyer services is because they want to employ the services of a popular and we'll recognized lawyer in their region. Look for the unpopular ones they will be willing to come in handy without being expensive instead of bringing in your family members. Family members can't take the role of a lawyer when things eventually go north... Even with family members and problems emanates due to a breach of contract you'll still require the service of a lawyer and that will be more expensive when a problem has set in already.

[Alpha Marine]

However if on the contrary the money we spend is not too much, it is better in this case not to use a lawyer because it will be a waste of your money, it is better for you to go with your family in this transaction.

In my opinion, as somebody that does business, you should have a lawyer, so if you're doing any business deal with another party, even if that business deal is for a very small amount of money, your lawyer should be aware. Your lawyer should go through any contract before you sign it. A deal worth $1000 can result into a $100,000 lawsuit in the future.
It's expensive when you don't originally have a lawyer and for the sake of this particular deal you involve a lawyer, but if you already have a lawyer you're not hiring him again, he'll just be doing his job by going through the contract.

When business, assets and money is involved I can't trust family just like that. It's friends that betray, not enemies. But that aside, is your family qualified enough to see through the contract and shield your trouble in the future?

[Kryss191]

The importance of an attorney in today's business activities can't be overemphasized with the nature of the business environment becoming more competitive with every tick-tock, businesses or firms ensuring to protect their interest and compliance from other party's in business not to unscrupulously want to take a smart advantage  of another in contracts and, in avoidance of possible legal hassles and litigations in the future for a successful business, it then makes an attorney's presence a necessity. There's that likelihood of people not overriding you in a matter when they are with the awareness of an attorney standing behind you - it makes procedures to followed in the way it should.

Completely, the part of an lawyer in today's trade scene cannot be exaggerated. With the trade environment getting to be progressively competitive, it's pivotal for businesses to defend their interface and guarantee compliance. Having lawful representation not as it were ensures against deceitful parties looking for to abuse contracts but moreover makes a difference to dodge potential legitimate challenges and debate down the street, which are basic for keeping up a fruitful trade. The nearness of an lawyer gives a sense of confirmation and guarantees that methods are taken after accurately.

[Richbased]

Many a people care less about getting an attorney when making business deals with a company or firm and with the extreme to which individuals are becoming greedy and manipulative is better to involve a lawyer in any business dealings with anyone for reference purposes in the future because even if you document terms and conditions of a contract you have with people, they can deny it in the future but when a reputable lawyer is involved it will be difficult for such a thing to occur.

In the area where I lived in my country, a lot of people have lost their properties simply because they didn't involve a lawyer when acquiring those properties and those people that sells those properties to them also resells to other people and this mostly happens to individuals that acquires a property and abandoned it without maintenance or always trying to check if those properties are still intact so some people takes advantage of that and sell those properties without the knowledge of the rightful owner and in a case of conflict and you don't have a good senior advocate losing those properties becomes so easy.

I know that the world we are now every thing literally depends on your financial capacity and wealth but sometimes we have to risk the money and secure our assets for the future so that no body can invade your business without your knowledge or consent as it will protect you from loss of your assets.

[Churchillvv]

Involving an attorney in a business transaction is as important as the business itself. sometimes naive people usually include some terms and conditions that are not good for you in a business intentionally to defraud you without your notice. some might even include some terms that you could be convicted for if eventually the transaction goes wrong that is why it's good to have a lawyer by your side to take actions that are necessary.

A simple step can save you from some trouble even though it might be some how expensive.

[0t3p0t]

I think this works best when we are buying real estate as properties are much more complicated for some people as not all of us don't have enough idea to cope with legalities and technicalities on transactions and we don't want to make mistakes on the dealings since we might spend more money when it happens so yeah much better to get one but for small business transactions I don't think there's a need of an attorney.

[Dr.Bitcoin_Strange]

I take this as serious advice from you, man. It is something that is usually neglected by so many people in some parts of the world, but just as the first comment has said, we really cannot overemphasize the importance of having a legal practitioner involved in any kind of business deal that we are involving ourselves in. 

This topic actually reminded me of two incidents that happened in my country. It was a case of land. There was this man who sold his land and used the money to travel abroad. The person who purchased the land abandoned the land because he was not yet ready to start any projects on it. After some years of leaving the land empty, some scammers went and sold the land to another rich man who had every necessary document processed with the help of a lawyer. 

Immediately after the second man bought the land, he started building a house there, and when the first person who bought the land found out, he raised a legal case against the second man for building on his land. The end point of this story was that both people had an attorney for that property, and the land was rightfully given to the first owner. In a situation where there is only one man with an attorney, he will definitely win the case over the real owner of that property. So, it is very necessary to have a lawyer on every business deal one is going into. 

[Moeda]

A lot of people make the mistake of signing contracts or making business deals without involving a lawyer, which is not very prudent.
....

Why do many people in business collaborations not involve lawyers, or there is no clear (written) business contract?
 Basically, many people start a business collaboration because they trust each other, because they are doing business with close friends. Good relationships have existed long before the business started. However, in general, when cooperation in business takes place, of course there is estrangement between the two, this can be caused by the emergence of mutual suspicion.
When this condition occurs, a business that is running well begins to slowly crumble. Not to mention the addition of a lawsuit which can use up a lot of the budget.
A written business contract is very important if the business is capitalized by more than one person.

[Promocodeudo]

OP, it depends on the business you want to venture into, a small scale business person may not be needing a lawyer because he or she may not be bouyant enough to hire a lawyer but on a general note every extablishment be it big or small needs to have an existing lawyer because the need may arise when is least expected, although in my country most locals do not involve lawyers in their business both in land buying and some other things, they prefer settling business dispute in a traditional way unless in some case where the matter has gone out hand, parties involved will have to resort to hiring lawyers to seek redress in court.
The truth is that involving a lawyer in every purchase or business deal is the right approach, it has been repeatedly said that having a legal backing of any business keeps the owner of such business on a safer side if ugly situation occurs but the limitation is the expenses involved, no matter how less expensive a lawyer service is, money is still involved and the truth remains that some persons may not afford it.

[Fortify]

A lot of people make the mistake of signing contracts or making business deals without involving a lawyer, which is not very prudent.

In whatever deal or contract you're getting into, make sure your lawyer is aware of it and make sure he/she has gone through the contract and gives you the go-ahead to sign before you sign, even if you feel you understand the contract very well.
It doesn't matter if it's a start-up, expansion, acquisition, selling of an asset or business, signing for a firm etc. Anything at all that involves you or your business and another party carrying out a business transaction.

Another mistake people make is not defining and understanding the terms of the contract before signing. This is where lawyers come in handy. You're not expected to know every business law, so there are a few details you might miss, details that can be against you in the future. Also, laws differ from region to region, so a law that favours you in your region may be against you in the region where you're doing business.

Some people involved a lawyer when things have already started going south. This is also not wise. Having a lawyer from the beginning may protect you from trouble.
It's okay if you can't afford the most expensive lawyers or firms to represent you or your business, but just make sure whoever you're hiring is competent enough

Five reasons you should involve your attorney early in your business transactions.

1. To Solve Problems in Advance
2. To Make Due Diligence Easier
3. To Reduce Last-Minute Time Burdens on Your Team
4. Because “Business Terms” are Not Just Business Concerns
5. Because Hiring Them Earlier is Probably Not Going to Cost Any More Than Hiring Them Later
Read more details here

There's actually a very fine line, which you may only get from personal and first hand experience, when it comes to involving outside professionals like attorneys. Often times they are glorified terms and conditions checkers who get pay a lot simply to read (& understand) content that anyone with time on their hands could interpret too. However, if it is your first time buying a house for example, and you are unfamiliar with the process, then you should consult the expert in the field. However if it's your 50th time buying a house and you've read through the same amount of documents as a regular attorney by that point - you may only hire them for 2 hours of time instead of 20, because you are well versed by that point.

[Stepstowealth]

A lot of people make the mistake of signing contracts or making business deals without involving a lawyer, which is not very prudent.

Making enquiries from a lawyer about a business you want to start can give you a very good idea of the legal framework behind that business. The reason some people do not see it as important is because they're trying to cut cost thinking that it is not important to have lawyer in their business, or the consider their business too small to have a lawyer involved.
Starting a business is very important because a good business with a good foundation will last long, this is why it is important to have all legal documents required to have an operate a business in a country without problems, and only a lawyer can help you with these documents.

[oktana]

Very true and important. Many think that lawyers are only invited when it’s a case or there is a problem. But lawyers are meant to always be involved so if there ever would be a case, you’ll sort it out smoothly. Having a lawyer also adds a sense of seriousness. An instance would be a contract. If you do not have a lawyer, the other party may be tempted to play around. But if you signed that same contract with a lawyer, the aura of everything automatically changes.

There’s so much reasons why you should always involve lawyers. Ranging from saving yourself of trouble you may never know was problematic, to defending yourself.

[Ben Barubal]

     Perhaps any deals that are discussed here, as long as they involve a large amount of money, there really should be an attorney in the agreement that is being discussed. Whether it's the title of the land, the sale of a car, or a house, there really should be an attorney.

     Like a deed of sale that needs to be notarized, and other important things. So that everything is fine and there will be no problems in the future and no distractions. And as for the business, if it's big, a lawyer is really needed, but if it's small, don't do it anyway.

[peter0425]

I agree that we should always have a lawyer at hand when dealing with contracts or anything that involves our signature and something that can be taken against us in the future. However I would suggest not to be too dependent on your lawyers. As a normal citizen, you probably wouldn’t understand every clause in the contract but it will still greatly help if you read it and try to at least understand some parts. Not all lawyers would be very loyal to you and you need to know whether your lawyer can be trusted or not.