When Should Entrepreneurs Consult Legal Professionals?
Entrepreneurs should consult legal professionals at various stages of their business lifecycle: 1. Startup Phase: During the initial setup to choose the right business structure and draft foundational documents like partnership agreements. 2. Growth Phase: When scaling the business, entering new markets, or securing financing, legal advice is crucial. 3. Ongoing Operations: Regular consultations to ensure compliance, update contracts, and handle employment issues. 4. Exit Strategy: During mergers, acquisitions, or business sales to ensure favorable terms and legal compliance.