Just the other day I consulted with a business owner whom had been suffering to his financial detriment for over 3 years from the actions and antics of another member of their limited liability company. The business owner did not want to sue the other member and so the business owner waited for years before ever stepping into a lawyer’s office to seek legal advice.
The business owner had all of the standard agreements and paperwork in order as required by the Texas Secretary of State, but he did not understand what any of the documents meant or what his rights were because he had simply paid an online legal forms website to open up the company, draft the documents, and pay the fees. He thought that talking to a lawyer simply would be too costly and unnecessary because he could just fill in the blanks online and press send. But, just the opposite happened. He had built a business without competent legal counsel, entering himself into a relationship with a “business partner” whom he thought he knew and trusted without ever understanding how his relationship would work if things didn’t work out. Well, throughout that relationship, that business partner was taking advantage of the business owner’s lack of knowledge and good heart which ended up costing the business owner unnecessary lost time, sleep, and profits.
Many people today believe that there isn’t a reason to hire an attorney unless they are being sued, they have been arrested, or they are going to sue someone, and so they wait until things get bad before they get a lawyer. Don’t be that person. Seek counsel.
When you involve experienced legal counsel in good standing with their state bar, you mitigate your risk of failure, lawsuit, loss or damages, and other complicated issues. Involve your attorney early in the game so that they can guide you through your situation and thoroughly explain to you the legal implications of each action you are planning to take.