Why a Legal Check-up Can Help Your Business
17 FEB 2023
Prepare for any unexpected legal issues
A legal check-up for your business is essential to ensure that all your operations and activities follow the law. Unfortunately, many businesses instead rely on self-help and online resources, naively unaware of the dangers this can present.
No business is immune to legal issues. That’s why it’s crucial to have regular legal check-ups for your business and a plan to deal with potential problems.
Working with a legal expert can help you identify any areas of non-compliance and potential problems with your contracts, employment practices, and more. By taking recommended corrective actions, you can avoid potential liability and ensure your business operates within the law’s bounds. A legal check-up can also help you develop strategies to deal with any legal issues that may arise.
How can a legal check-up help my business grow?
A legal check-up is essential to running a successful business and facilitates growth. Full compliance with all the relevant laws and regulations improves your business’s reputation, and having good legal standing makes it easier to attract investors and partners.
A legal check-up can also help you identify opportunities for growth and expansion. By understanding the full extent of the law, you can develop strategies for taking your business to the next level.
When does my business need a legal check-up?
Ideally, every business should have an annual legal check-up to ensure all legal requirements are met. There are also other key indicators that a legal check-up is due, such as:
Your business is growing
If you want to expand your operations and take your business to the next level, a legal check-up should be part of the plan. A lawyer will ensure everything is in place before any significant changes occur and advise what needs to happen going forward. As your business grows, your legal needs will change. For example, you may need to revise contracts or comply with new regulations.
Entering new markets
If you’re expanding into new markets or selling products or services in different countries, you’ll need to comply with all the relevant laws and regulations. A professional review can ensure that all the necessary paperwork is in order, keep you compliant, and reduce potential risks.
You have not used a lawyer for routine tasks
Many businesses make the mistake of thinking they only need a lawyer when there’s a problem. Instead, to keep your business in top shape, working with a lawyer for routine tasks like reviewing contracts or advice on compliance issues will keep any problems at bay.
Your business is undergoing changes
Whether you are changing your business structure, expanding, or moving premises, it can impact the legal obligations of your business. A legal check-up can help ensure you’ve met all the requirements and regulations.
You haven’t had a legal check-up for a while
It’s easy to forget about booking in for regular reviews, but it’s essential not to neglect them. A yearly review will help ensure that everything is up-to-date and give you peace of mind that any unexpected changes or surprises down the line won’t catch you out.
What will a lawyer look for in a legal check-up?
A legal check-up involves reviewing all aspects of your business, including contracts, company structures, taxation and insurance coverage. This will help identify any potential issues or risks that could impact your operations and profitability.
When working with a lawyer, they will likely look at several essential elements for safeguarding your rights and responsibilities. Such as:
- Reviewing contracts you have in place to ensure they are up to date and properly executed;
- Making sure official documents are valid and reflect your current demands or intentions;
- Review the regulatory requirements for your business or industry to ensure compliance and advise you on how best to adhere to them going forward;
- Assess the risks associated with your operations and recommend ways to minimise them better to protect yourself from potential liability or legal action.
- Understanding the existing laws and regulations provides a deeper insight into the current state of your legal affairs. It allows you to take proactive measures to protect yourself against potential risks, costly fines or penalties.
How can a lawyer help me plan the right exit strategy for my business contracts?
Exit strategies can be very complex. If you’re unfamiliar with the legal process, it can be difficult to know where to start. However, a lawyer can help you understand your options and choose the best course of action for your business.
Having a qualified lawyer on your side will ensure that any legal loopholes are identified and dealt with. A lawyer can also draft any necessary legal documents and negotiate with other parties on your behalf, making sure everyone is aware of their rights and obligations. They will be able to anticipate and address potential problems and offer sound advice on how to avoid them in the future.
Doing business in today’s competitive landscape can be challenging. It’s essential to have the correct legal framework in place to protect your interests, secure contracts, and ensure that you comply with industry regulations. A legal check-up is an incredibly valuable tool for businesses of any size, from small start-ups to large corporations.
Can Barnes Law help me?
Our Business Legal check-up aims to minimise the risks that may arise from professional relationships with partners, shareholders, employees, customers and authorities.
If your business is due a review, or if you’ve never had a review and rely on online templates or self-help resources, get in touch today to find out how we can help you.
Yulia BarnesManaging Partner
Yulia Barnes is our Managing Partner. She is an experienced solicitor and advises on a wide range of contentious and non-contentious matters for both private and corporate clients.Yulia started her legal career at a large international Magic Circle firm. She then became a partner at a regional law firm and headed a Dispute Resolution Department. She then moved in-house before starting her own Boutique practice, Barnes Law, with the aim of providing exclusive services to high net-worth individuals and privately-owned businesses. More details can be found on her LinkedIn profile.
Expertise Yulia and her team are widely recognised for their professional and practical approach to matters. She is committed to ensuring that her clients’ objectives are achieved in the most cost-effective way possible.
Approach Yulia has a wealth of experience working with businesses of all sizes: from large multinational corporations to start-ups. She has particular expertise in a hospitality industry, investment funds, private and corporate clients, and focuses on startups and technology-driven companies. Yulia brings the same level of attention to detail, professionalism and a personal touch to every case and client, and truly immerses herself in her clients’ businesses. She prides herself on her problem-solving, commercially astute approach and her track record of partnering with clients to help them achieve their strategic objectives.
Will joined Barnes Law as an Associate Solicitor in Spring 2023, shortly after qualifying in September 2022.
Will works mostly on real estate and corporate/commercial matters. Will enjoys providing advice on transactional matters.
Away from the office, Will can be found reading or playing golf. While he played rugby until university, and rowed throughout his degree, he now tends to watch both from the sidelines. During the winter he can also be found skiing.
Will plans to continue developing his legal skills and experience at Barnes Law, under the expertise and guidance provided by Yulia.
Mark is an experienced solicitor whose practice areas include intellectual property (IP), IT, data protection and general commercial law.
Mark advises businesses of all sizes – from sole traders to corporations. Among his clients are: clothing and lifestyle brands, restaurants and food suppliers, IT companies, banks, hedge funds and venture capital firms, education providers, medical and pharmaceutical brands.
Outside of his practice, Mark also advises members of the Institute of Directors as part of its Directors’ Advisory Service.
- Prosecuting a UK trademark application on behalf of an education provider and representing them in related UK IPO opposition and revocation proceedings;
- Advising a publisher and a delivery business on data protection matters, B2B and B2C Ts & Cs of sale, website and app Ts & Cs, all aspects of global brand protection;
- Advising footwear brands, alternative asset managers and hedge funds on their global brand protection, including overcoming various refusals, representing them in opposition proceedings and settlement negotiations;
- Representing a central bank in opposition proceedings before the UK IPO;
- Advising a lifestyle brand concerning trademark clearance and protection, negotiations for a website/app development and maintenance agreement.
Ioulia TatawatFamily Law Adviser
Ioulia has a solid background in family law and offers guidance, clarity, and support to clients during one of their most challenging times in their life.
She advises on all three pillars of separation: divorce, children matters and financial settlements. Ioulia is a member of Resolution and is keen to try to settle matters at early stages.
Ioulia is dedicated to assisting clients and navigating them through their legal matters with clarity and support.
Alex joined Barnes Law in September 2023 after finishing his master’s degree in law. Prior to joining Barnes Law, Alex worked in property litigation at Ashfords. Alex assists Yulia on a variety of both contentious and non-contentious matters.
Outside of the office, Alex enjoys reading and hiking. Prior to working in law, Alex was a competitive tennis player.
Alex continues to develop his skills in legal practice under Yulia’s guidance, he plans to sit the Solicitor’s Qualifying Exams (SQE) in 2024.
Mehves joined Barnes Law in August 2023, right after graduating from Queen Mary, University of London (LLB Senior Status). As part of her qualification journey, Mehves is currently pursuing her Legal Practice Course (‘LPC’) at the University of Law. She also holds a degree in European Union Law from Maastricht University, Netherlands.
Mehves works closely with Yulia on a variety of contentions matters and also writes Barnes Law’s legal blogs, manages social media accounts and is responsible for marketing.
Outside of work and studies, she enjoys running, tennis and yoga.
Mehves is looking forward to developing her legal skills at Barnes Law.
Julia PodgornovaInvestor Relationship Manager
Julia guides clients in making important business decisions based on comprehensive risk assessment and strategy. She supports investors in devising strategies designed to maximise each business’s potential from pre-seed to IPO.
Julia’s particular area of expertise are IT start-ups at different stages. Julia supports business through their fund-raising journey. As an Investor Relations Manager, Julia communicates with investors to facilitate a smooth round and legal part of each transaction.
In her free time Julia enjoys sailing, ballroom dancing, art exhibitions and travel.