Four Reasons Your Illinois Business Needs General Counsel Services

Illinois business owners know the importance of retaining a lawyer for formation and start-up, as well as drafting and reviewing contracts. Not as many realize how critical it is to have access to general counsel on a regular basis. Some stakeholders may only reach out to an attorney after an issue has emerged, at which point they need to develop a relationship very quickly and get that person up to speed regarding the organization.

While it is not practical for all companies to have an in-house legal department, there are numerous benefits for working with an Illinois business lawyer who offers general counsel services. An attorney can be a valuable asset over the course of your organization’s lifespan, providing assistance with the wide range of operational issues that emerge. Four of the most noteworthy benefits include the following:

1. You have a head start in the event of litigation. When you establish a partnership with a lawyer, you have someone who already knows your business if litigation looms. You do not lose precious time bringing a new person up to speed, so he or she can get started right away in protecting your company’s interests. Additionally, if you need to take legal action in a lawsuit involving less than $10,000, Illinois law states that on small claims you are required to have an attorney representing your business in court.
2. Avoiding litigation. You should also keep in mind that you are in a better position to steer clear of contractual disputes when you retain a lawyer to structure, negotiate, and draft them. Many business owners commit critical errors when attempting to work out agreements on their own. In addition, if a dispute develops, your general counsel can often resolve disagreements without resorting to litigation.
3. Assistance with compliance issues. There are countless statutes and regulations that apply to operating a business; violations can carry fines and other harsh penalties. A skilled attorney knows the laws and can ensure you remain in compliance with tax matters, real estate, licensing, and the specific rules for certain industries – some of which you may not even realize existed.
4. Trusted references for legal help. While your general counsel can assist with day-to-day issues, there are times when you may need focused attention on specific legal issues. Well-connected business lawyers have expansive networks of resources they rely upon which means you will always have access to an attorney who handles specific legal matters.

Consult with a Naperville Business Law Attorney About General Counsel Services

There are many reasons, in addition to those listed above, why you need a lawyer on your team if you are an Illinois business owner. The overall objective is to gain peace of mind knowing that you have a knowledgeable legal resource to turn to when unexpected issues arise. At the Gierach Law Firm, we offer a general counsel program for companies that need ongoing advice and guidance – at far less than bringing on a full-time attorney. To learn more about our general counsel services, please call 630-756-1160 to set up a consultation with a skilled Naperville business lawyer.

Source:

http://www.illinoiscourts.gov/supremecourt/rules/art_ii/ArtII.htm#282