As an entrepreneur, it is tempting to try to handle everything on your own, but there are some business functions that it makes sense to outsource so you can focus on business growth. Those key functions include accounting, insurance and legal counsel, among others.
USA Today small business writer Rhonda Abrams encourages entrepreneurs to hire a small business attorney to assist with intellectual property needs, industry regulation and capital-raising. She wrote:
“If you’re developing a new technology or invention, you’ll need an attorney who regularly deals with intellectual property law to protect your ideas. If you’re in a highly regulated industry, seek one with experience in that industry to help you navigate red tape. And if you’re going to be raising money from sophisticated investors, such as a venture capitalist, it’s ideal to find a lawyer who’s helped other entrepreneurs negotiate term sheets and investments.”
Small Business Trends also recommends hiring a specialized lawyer, if you have needs that go beyond basic small business start-up forms and agreements. In the article, Melinda Emerson said:
“If there’s a specialist for what you need, seek him out. You wouldn’t go to a general practitioner if you had orthopedic issues. If you have no need for copyrights or any complex legal advice, you can probably get by taking care of your needs on your legal questions with a general small business attorney. If, on the other hand, you want to patent your intellectual property or need several different complex contracts drafted, you’re better off hiring a professional with that expertise.”
Entrepreneur contributor Eyal Lifshitz also recommends choosing a specialist for intellectual property issues, saying, “For instance, if you need to obtain a patent, or worse, go toe-to-toe with a patent troll, work with a patent attorney. This specialist’s years of experience in intellectual property, and in-depth knowledge of the ins and outs of patent and trademark litigation, will serve you well.”
Bottom line, you know your industry and your business. Working with a team of skilled advisors just makes good business sense because it allows you to focus on your core business and growth strategy. Your business attorney and other professional advisors can fill in your knowledge gaps to help your business succeed.
If you are looking for a small business attorney with a focus on intellectual property, contact EmergeCounsel today.