As you grow your Virginia or Washington, D.C., small business into a thriving and successful enterprise, remember to take the time to legally protect what you have built. Like insurance, it is essential that you spend a prudent amount of time and money to review your operation and ensure that you are properly protecting your assets, employees, vendors, and various other entities with which your business interacts. Your small business’s reputation and financial future may be at stake.
Here are some helpful reminders about many of the legal questions that your small business should consider on an annual basis:
- Entity type: Do you have the optimal Virginia or Washington, D.C., small business entity type? Sometimes the small business entity type that you initially formed–whether due to legal administrative ease or otherwise–is not the best business entity for your current business.
- Review your contracts: What do the contracts that you use on a daily basis actually say? Often closer review shows that your contracts do not say what you have always assumed that they do. This can be very costly when a dispute arises down the road.
- Non-compete agreements: Does your small business need to use non-compete agreements with its employees and contractors? Will the current non-compete agreement that you are using be enforceable? Does it matter?
- Employee legal grievances and lawsuits: Are you protecting your employees and your business from an employment law complaint? Plan ahead; don’t merely react.
- Choosing an attorney: Are you working with an attorney and law firm that serves your business’s needs?
These are just a few of the issues that you should continually review, rethink, and re-address as your small business grows. Contact the office today if you would like to discuss your Virginia or Washington, D.C., small business’s needs with an experienced and knowledgable law firm.