Most small business owners are optimists or they would never have the courage and fortitude to build a business in the first place. Once they embark on that journey, they typically forge ahead through adversity, setbacks, ambiguity and stress. The last thing they want to think about is what latent defects exist from past decisions or rash judgments that could take down the entire enterprise. No one wants to “stress test” their own operation and face the reality of where the weaknesses are. However, failure to do so could be extremely costly. It is much easier to fix a problem early, before it has manifested itself in a crisis.
The world has become very complex and our society has created many rules that we hope follow common sense guidelines, but many times owners who think they are following the rules unwittingly create serious liability and risk to their entire enterprise. If you have employees, especially hourly employees, you are very much at risk. Employment law is an ever-changing landscape with very punitive penalties for the unwary and uninformed business owner. By going through your current practices and cleaning up your procedures, we hope to give you the ounce of prevention to avoid the pound of flesh you may have to pay for the cure if the problem manifests itself into a serious crisis.
In addition to helping you mitigate your risk, our goal in a legal audit is to find areas of value where strategic thinking can make your company more valuable. What is the state of your intellectual property? Do you have trademarks? Should you? If you are thinking of selling your business in the near or even distant future, steps you take now can have an enormous impact on the value you may get in an exit strategy.
A big part of our legal practice has been representing clients in buying or selling their business. We bring that experience, and those war stories, to help clients position themselves for future success. The law touches many areas of your business; it is an unavoidable reality of today’s society. Let us help you efficiently and economically navigate those waters well in advance of an exit strategy or a serious crisis.
We would love to help get your legal house in order, call us (215.525.1165) for a free initial consultation to confidentially discuss your company and your goals.