Having a lawyer on your team is a smart move for any business. Start-ups often face a wide array of potential legal issues. Earlier this summer, we posted the top five legal mistakes made by start-ups. Now, we will explore the ways hiring a lawyer may save your business time and money and prevent you from making costly legal mistakes.

Let’s start with your corporate structure. A lawyer, working in tandem with an accountant, will help you select the correct type of entity for your business and make sure that is properly formed in the correct jurisdiction(s). After formation, the lawyer will ensure that your business has the corresponding governance documentation.

Location, location, location. You found a perfect space, but have no idea what should be in the lease. Your attorney will demystify terms (e.g. CAM, build out, hold over, triple net), make sure you are protected (e.g. no similar businesses, delayed rent until opening), and clearly outline the responsibilities of each party.

Contract drafting. Well-written contracts with clearly denoted terms will be one of the best investments you make in your business. Each agreement will outline the expectations of the parties, the nature of the services to be performed or products to be created, and the payment terms, among other essential provisions.

Hiring employees is not for the faint of heart. It is critical for you to observe the laws regarding staffing your company. Deciding to hire people as independent contractors will lead to unnecessary exposure for business. As employment laws are not intuitive, you will need an attorney who is well versed in this area to walk you through the hiring, maintaining and firing of employees.

Working with an experienced attorney at the outset will offer your business protection from a slew of potential legal hazards.