As business owners, there's so much we can and should be paying for. From branding to accounting, your pockets are often pulled into many directions. The most daunting costs a small business can incur are legal fees. Paying for a lawyer is expensive, confusing, and all-around scary. However, paying for a lawyer is probably one of the best investments you can make.
I sat down with Jasmin Robinson, a small business attorney and law school coach from Atlanta, GA, to discuss why start-ups should take the plunge and pay for a lawyer. As a black woman entrepreneur like myself, a lot of her passion stems from educating black people on the importance of asset and brand protection. In fact, we discussed the racial disparity between business and legal education and how some people take advantage of our talents, ideas, and products simply because we don't know how to protect ourselves. Here are her reasons why you should pay for a lawyer:
You Need an Expert
"The [main] reason you should pay for a lawyer is the same reason you would pay for a surgeon," says Jas. Simply put, you wouldn't trust yourself to make life-altering surgeries, so why wouldn't you pay for an expert for life-altering legal services? It is safe to say the majority of the business owners have never been to law school, so, unfortunately, we don't know much about law. It is our responsibility to be accountable entrepreneurs and invest in a lawyer.
Time = Money
Many start-ups indeed cut corners by "DIYing" a ton of their clerical work and basic business functions, but you can't bypass legal fees. If you pay for a lawyer upfront, it's more inexpensive than having a lawyer fix your DIY work. Also, your time is precious, and therefore, your time should go towards your talents that made you create your business. You will then be "growth-focused" as you outsource your legal services to a lawyer.
Your Future Depends on it
Let's be transparent here – plagiarism is real. We've seen it with fast fashion brands like Fashion Nova and even with IG stars like B Simone. Your work will always be valuable to someone, and it would be terrible if someone took it as their own. Therefore, protect your brand and its' assets by trademarking, copyrighting, and/or patenting. Yes: you could technically handle your intellectual property yourself, but the success rate is much higher with a legal professional. Invest in yourself and protect your brand!
It's expensive to be a business owner, but what is more costly is having to re-brand/re-invent after receiving a cease and desist letter from a company that protected their brand before you did. Invest in yourself and secure your Future with a lawyer.
Autumn, Founder
Proxie ⭐️