Involve an attorney in your business dealings.

[Cryptoprincess101]

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.

You see no body can sign a contract or documents without going through the terms and conditions of the contract or business and it is even risky for anyone who isn't lettered to sign a business document or hire the service of a lawyer to sign such an agreement that is why education is very important for everyone so that they can read and write very well because even if you employ the service of a lawyer to sign an agreement without you knowing the contents in that agreement, it is very risky.
However, even if you will seek an attorney in any business transactions that you are doing with people but it is also important that you have proper knowledge of what the business is all about, ignorance is never an excuse in the sight of the law.

[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

If you're talking about big money, beyond low four digits, it is probably advisable to have a lawyer looking over the documents. In some cases it'll even be mandatory, like having a lawyer vet the documents before a mortgage is requested from a bank to ensure all your money is legitimate and then looking through all the small details involved with the house you are buying as well. Anything in the lower range however, unless it's some sort of court or will settlement, is probably going to cost you the same amount in legal fees than you might be benefitting. You should also be doing your own basic research because you want to have a rough idea of what the process looks like.

[boyptc]

IMO, you can call this term black and white. Everything will be documented and on paper when you've got some dealings to do.

And that's really the first thing to do when things go south and that's to seek legal counsel that will help you how to resolve these matters or how to counter that deal that went against your contract.

I've been into many business deals and fortunately, I didn't have to come up with this kind of situation.

[AmoreJaz]

IMO, you can call this term black and white. Everything will be documented and on paper when you've got some dealings to do.

And that's really the first thing to do when things go south and that's to seek legal counsel that will help you how to resolve these matters or how to counter that deal that went against your contract.

I've been into many business deals and fortunately, I didn't have to come up with this kind of situation.

If you know that you are dealing with good amount of money and a lot is at stake, a lawyer is indeed needed in your transactions. I can understand if you are only doing small business as you can manage it on your own. But if there are other stakeholders and they have vested interest in your business, it is better to have a lawyer that you can go to. You'll never know what will come up later on. You may need them even for consultancy services.

[WillyAp]

You certainly need to reach a level.
If you sell a website of $150 your attorney takes most likely all you earned.

[Wexnident]

~

Depends honestly? If it was something heavy and well, big on money, I'd definitely hire a lawyer to check on the proceedings of the contract signing. If not, then I don't think there's a need to. Lawyers can be a costly hire after all. And well, not exactly sure how long you're supposed to take to sign a contract but if it's not in a rush, I reckon the other party can give you time to read and contemplate the contract details before signing it. Pretty sure plenty enough time to scrutinize the contract details, especially if it's not as heavy as an instance like where you do need a lawyer.

Personally have no experience with it though. I've had contracts but just some freelancing stuff plus my job contract as well, nothing too complicated.

[Sebas.tian]

I agree with you OP, many investors has loss their contract and capital, because they went ahead to sign some documents they don't understand in the agreement paper that made them stupid in the front of judges in the court of law which some investors will never allow such mistakes to happen again. I know that some investors ignore lawyers in their investment or contract base on the funds that will going to involve, because the lawyer will charge you base on how massive the investment or contract is and he will settle down to going through the rules and conditions in the agreement paper and explain it. If I have investment or contract in the future, I think I will have like two permanent lawyers that will be helping me to verify and cross check all my investments and contract documents.

[Mr.sprin]

I agree with you OP, many investors has loss their contract and capital, because they went ahead to sign some documents they don't understand in the agreement paper that made them stupid in the front of judges in the court of law which some investors will never allow such mistakes to happen again. I know that some investors ignore lawyers in their investment or contract base on the funds that will going to involve, because the lawyer will charge you base on how massive the investment or contract is and he will settle down to going through the rules and conditions in the agreement paper and explain it. If I have investment or contract in the future, I think I will have like two permanent lawyers that will be helping me to verify and cross check all my investments and contract documents.

Yes bro, I agree with your opinion, when our business starts to develop we need a lawyer to always accompany us to ensure that undesirable things don't happen, because loyal investors who want to collaborate with us will definitely have prepared their respective lawyers to ensure things run smoothly so that there is no manipulation of data and documents, they help us so that agreements and cooperation are not misused by falsifying files, in my opinion this is very important for us as our business has developed and collaborates with large investors .

[kotajikikox]

I think it is necessary you need a lawyer no matter how small the scope of business we are doing. Perhaps in your country there are lots of good people who is willing to keep to the agreement without any legal binding. But in my country, you don't have to take the risk of trusting people when it comes to business. To avoid unnecessary drama, argument or conflict along the line it is good there is a signed document legally binding the agreement from the two parties. So that when matter arises the agreement will be there to make things clear and know who have gone against the agreement and who did not.

It is quite common in my country that two parties end up consulting legal advices AFTER one party did not follow through the supposedly conditions. Now it's harder for the aggravated party to fight in court because they never consulted any legal consultant beforehand and they never realized that there is actually some conditions that do not go his or her way.

To avoid such things from happening, no matter what you guys are settling make sure that a professional can read through your contract and check if there should be any changes

[Dailyscript]

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.

Why would someone in his right sense sign a document without reading at the terms and conditions, i know it may seem rare but it literally happens in the society. And at the end of the day they will accuse the other person for defrauding them when they were ignorant of reading what the document contains. The purpose of signing a contract or document for a business is because you and the other/organization needs to be speaking the same mind and have come to the same agreement. Which is a must that you read the document and if you do not agree with what it conveys then dont sign until an agreement has been made and written with ink on paper.

Another mistake that usually lead people into trouble is the fact that they refuse to take a copy of the agreement immediately, which is risky. Dont forge that is is paper and ink they could make changes to it if you do no have an original document for yourself. Evil does manipulate signatures and a lot of things these days using modern technology so we shouldn't fall victim of such mistake. I just feel that some people really need to here this i just said.

[AVE5]

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.

That's true. Dealing with reputable persons in a small scale income may actually not have such conviction effects but must be assured of the deals transparencies and how genuine it could be because considering the little profit might not even afford you to get the least lawyer.
But it's always advisable as a business person to be engaged with a lawyer that'd understand that you're still growing from a petty firm so that you can always have that legal backups on your affairs without being on distress to find a lawyer when you're handicapped already.

[Maus0728]

Totally agree, as much as you don't want to hire a lawyer for your business dealings, they're probably the best one you can have because they'll give you the rundown on what you need to know when you're trying to sign a contract but you don't have the time to read it yourself and you can be sure that you're safe because they've got an oath to protect your interests when you hire them, that's why it's really important to have them, they're like the IT guys, you will not need them all the time but the moment that you do, you'd be thankful that they're there to help you out.

[fuguebtc]

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.

Why would someone in his right sense sign a document without reading at the terms and conditions, i know it may seem rare but it literally happens in the society. And at the end of the day they will accuse the other person for defrauding them when they were ignorant of reading what the document contains. The purpose of signing a contract or document for a business is because you and the other/organization needs to be speaking the same mind and have come to the same agreement. Which is a must that you read the document and if you do not agree with what it conveys then dont sign until an agreement has been made and written with ink on paper.

Another mistake that usually lead people into trouble is the fact that they refuse to take a copy of the agreement immediately, which is risky. Dont forge that is is paper and ink they could make changes to it if you do no have an original document for yourself. Evil does manipulate signatures and a lot of things these days using modern technology so we shouldn't fall victim of such mistake. I just feel that some people really need to here this i just said.

I have never seen a businessman so naive or stupid as to sign a contract without reading the terms of the contract. If you don't even care about protecting the rights of your business, how can you ensure the survival of your business? And who dares to invest and cooperate in the business you manage?

Not to mention, before the contract is signed and approved, the terms and requirements of both parties will be presented several months in advance for both parties to review and discuss before making a final agreement. Therefore, it would be ridiculous for a businessman to sign a contract without reading the terms.
I do not deny the role of lawyers and what I want to say is that we do not need to overestimate them and underestimate ourselves as business owners. And the fact that someone does not read the contract terms and rushes to sign only happens to normal people, people without expertise, and the contracts they sign are mainly insurance, retail sales...I have never seen such a thing happen to businesses.

[boyptc]

IMO, you can call this term black and white. Everything will be documented and on paper when you've got some dealings to do.

And that's really the first thing to do when things go south and that's to seek legal counsel that will help you how to resolve these matters or how to counter that deal that went against your contract.

I've been into many business deals and fortunately, I didn't have to come up with this kind of situation.

If you know that you are dealing with good amount of money and a lot is at stake, a lawyer is indeed needed in your transactions. I can understand if you are only doing small business as you can manage it on your own. But if there are other stakeholders and they have vested interest in your business, it is better to have a lawyer that you can go to. You'll never know what will come up later on. You may need them even for consultancy services.

That's right.

You don't go into business dealings with involvement of a lot of money without having a lawyer. You are doing it in paper and as well as the black and white matter for these deals are real.

On the corporations type of deals, you have your hired lawyer or on call that you're always seeking counsel with it.

[Xampeuu]

IMO, you can call this term black and white. Everything will be documented and on paper when you've got some dealings to do.

And that's really the first thing to do when things go south and that's to seek legal counsel that will help you how to resolve these matters or how to counter that deal that went against your contract.

I've been into many business deals and fortunately, I didn't have to come up with this kind of situation.

If you know that you are dealing with good amount of money and a lot is at stake, a lawyer is indeed needed in your transactions. I can understand if you are only doing small business as you can manage it on your own. But if there are other stakeholders and they have vested interest in your business, it is better to have a lawyer that you can go to. You'll never know what will come up later on. You may need them even for consultancy services.

That's right.

You don't go into business dealings with involvement of a lot of money without having a lawyer. You are doing it in paper and as well as the black and white matter for these deals are real.

On the corporations type of deals, you have your hired lawyer or on call that you're always seeking counsel with it.

In a number of businesses that generate large amounts of money, personal lawyers are really needed, because fellow large-scale business people will of course be very careful with the applicable laws, which of course must be prepared if something happens that is not as desired so that it can be stated in the articles of the agreement. It is agreed that if this is not orderly it will usually be complicated in the future. Therefore, legal advisors are needed to anticipate future problems

[wiss19]

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.

Successful businesses are built on good policies, terms, and mutual trust. If you are doing business and you and your partner have the same amount of capital, chances are less that he will cheat on you. If anyone wants to run and carry his business successfully, he needs to act honestly and never cheat his partners as this will not only damage his own business but also others'. In my view, he will be suspicious forever. If all these things are left aside, it is better to take the legal route to avoid all this and never let this happen.

Many people don't go through the hoops of lawyers and courts before starting a business because they have to pay a good amount in taxes and lawyers' fees. It is very true that if we are saving a little of our money, we may be cheated and lose all our money. It is better to hire a good lawyer or prepare a stamp paper. It should be done with the signatures of both parties and legally verified so that no one could cheat.

[barisbilgili]

In a number of businesses that generate large amounts of money, personal lawyers are really needed, because fellow large-scale business people will of course be very careful with the applicable laws, which of course must be prepared if something happens that is not as desired so that it can be stated in the articles of the agreement. It is agreed that if this is not orderly it will usually be complicated in the future. Therefore, legal advisors are needed to anticipate future problems

For large-scale businesses, of course this will be very important, but not for businesses that can be run on a small scale. Whether or not we need a lawyer in business matters all depends on the large or small scale of the business we run.
If it's a big business, of course it's very important to involve a lawyer because there are so many things related to law in a big business, so involving a lawyer will be able to minimize undesirable things.

[MissNonFall9]

Hiring an attorney to make the business effective and efficient should be part of a strategic plan. Because the business scope must be considered before appointing an attorney otherwise the business objective will fail to be achieved. Therefore hiring an attorney for a business whose business scope is large and far-reaching will give much better results than other businesses and achieve business objectives as well as making profits faster.

[boyptc]

That's right.

You don't go into business dealings with involvement of a lot of money without having a lawyer. You are doing it in paper and as well as the black and white matter for these deals are real.

On the corporations type of deals, you have your hired lawyer or on call that you're always seeking counsel with it.

In a number of businesses that generate large amounts of money, personal lawyers are really needed, because fellow large-scale business people will of course be very careful with the applicable laws, which of course must be prepared if something happens that is not as desired so that it can be stated in the articles of the agreement. It is agreed that if this is not orderly it will usually be complicated in the future. Therefore, legal advisors are needed to anticipate future problems

Yeah, in all aspects including labor codes and business practices and all of those things. They all have to get their own lawyer and not just a consultant.

Or maybe a consultant if ever they need that service to.

With that, they already have an inhouse lawyer for them for those needs and legal matters that they need to get into so that their business operations and deals won't get into trouble.

[jrrsparkles]

Don't sign on anything without knowing what's written on the paper for that you need an attorney?

Nope, you can do that on your own and when you think there is something confusing or you didn't understand then seek the professional help but usually if you're running a business you may also have a consultant who are the one to seek in such situations.