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4 Simple BUT Powerful SME Tips Recommended By Small Business Lawyers

by | Aug 16, 2021 | Business

Learn from the best to be the best!

Most small and medium-sized business (SME) owners in Malaysia still think they are too small to afford a lawyer. Many are even unaware of what Small Business Lawyers do!

Most of them usually wait until they are caught in legal entanglements¹. Only then, they will seek legal help. Although this works, it leads to a very costly process. This is why people complain hiring lawyers is expensive!

A good practice is to consult with a business lawyer right from the moment when you decide to set up your business.

BUT, how exactly do Small Business Lawyers play their roles in your business?

Business formation

When you are just starting out, you realize that there are too many legal complexities² happening at once. It can be confusing to navigate through these, and there is always a chance that you might miss out on something.

With a Small Business lawyer, they can help you:

  1. Choose the correct business plan
  2. Advises on how to structure your business for maximum growth
  3. Strategize to put risks at a minimum
  4. And more…

Protect Intellectual Property

From the business name, logos, blueprints, creations, and software, Small Business Lawyers can help protect the company’s intellectual property.

This includes copyright items. Many overlook this matter as they always think that no one will steal their ideas. However, they often forget, without proper copyright protection, your business assets³ is vulnerable to be stolen and misused.

Formulating Contract

Contracts are legally binding and are required to be worded correctly⁴ as they can be disputed. A lawyer will help you draw up contracts to eliminate the chance for disputes, and your business stays protected.

Contracts include employment agreements, non-disclosure agreements, non-compete agreements, confidentiality agreements, shareholders agreements, joint-venture agreements and service level agreements.

Guiding Business Growth

As your business continues, there will be growth opportunities. Small Business Lawyers will advise you on how to capitalize on these opportunities⁵ and take things forward.

They assess the risks and legal issues that you might face while moving forward and advise ways to avoid disputes even before they happen.

Make Informed Decisions!

Without a doubt, hiring an experienced Business & Commercial Law Lawyer will make your work easier! Not only do they guide you, but they also ensure each strategy and move are tactically made.

Amir Khusyairi & Associates can help secure your interests and protect your rights through the simplest terms. Our solutions are not filled with legalese you do not understand.

Contact us today, and let us be your business’ front-liner!


Reference:

  1. Multiple Legalities: Conflict and Entanglement in the Global Legal Order – Verfassungsblog
  2. Legal Complexities – Legal Complexities | Actuaries Digital
  3. Business Asset Definition (investopedia.com)
  4. Ambiguous Contracts | LegalMatch
  5. Capitalizing on business opportunities, Business-Building Information (businessknowledgesource.com)

 

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