Secrets to Selling Your Business

Ep 34: Preventative Legal Measures for Business Financial Stability

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 Andrew Legrand, the founder of the Spira Law group, established the firm in 2011 with a vision to modernize the legal industry. Drawing from his own experiences during the financial crisis, Legrand identified a gap in the market for preventive legal services for business owners. His perspective is that by proactively seeking legal advice, business owners can avoid costly, sometimes irreversible problems. Believing in acting as a general counsel for his clients, he provides services such as contract reviews, brand protection, succession planning, insurance policy reviews, and HR and employment guidance. Legrand's approach, shaped by the belief that legal problems faced by businesses are either insurable or preventable, emphasizes on practical problem-solving and helping business owners avoid legal pitfalls before they escalate.

 

Here’s what to expect this episode:

  • Proactive legal services aim to prevent legal issues from escalating for business owners by offering contract reviews, protecting intellectual property, creating succession plans, and resolving HR and employment issues.
  • Subscription-Based Legal Services provide clear upfront pricing and ongoing support through flat fee and subscription-based models exclusively for business owners, bridging the gap between DIY legal work and high-priced law firms.
  • Legal decisions can prevent negative impacts on business operations by considering legal costs before transactions, investing in legal protection like trademarks and contracts, and consulting with a business lawyer to mitigate risks and ensure compliance.
  • Considering legal expenses in business decisions is crucial to avoid costly issues like trademark infringements, brand theft, and firing employees without proper legal measures.
  • Having legal affairs in order when selling a business is crucial to avoid jeopardizing the transaction, ensuring representation by legal counsel for buyers, addressing issues with licenses and leases, and having the right insurance in place.
  • Hiring a good lawyer may incur costs but can save a business money in the long run by proactively addressing legal issues, ensuring contracts are clear, protecting intellectual property, creating succession plans, and obtaining the right insurance coverage.

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    Connect with Andrew Legrand

    https://speralaw.com/about/andrew-legrand/

     

    Connect with Jacob Koenig:

    https://woodbridgegrp.com/

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    Secrets to Selling Your BusinessBy Jacob Koenig