When you have your first experience as a new manager, entrepreneur or business owner, you will almost immediately learn that having a good team of advisors is a key factor in long term progression. While having a good accountant is a basic necessity, a good legal advisor is just as important and can make a real difference in the overall efficiency with which you run your business.

Whether you are starting a new industrial supply company, tooling up an assembly line, or looking to expand your current product lines, the time you spend with your legal team will have a very real impact on your bottom line. Here we examine the qualities that define a good company lawyer, and the responsibilities that are covered in a description of a company lawyer’s role. These insights can help you protect your investment against unforeseen risks.

While every firm has their own unique wording when it comes to their company lawyer job description, it typically covers the following points: Assuming the above items are all covered, there is much more that a good company lawyer can do to make your life easier. However, it’s also important to note that there are areas where you are not likely to receive help. If you are looking for outside financing, there are legal firms that specialize in startup funding. If this is what you need, then this is the legal advice you should seek.

Otherwise, when you engage a specialized firm that has a designated lawyer for each of the areas outlined above, you will essentially be able to transfer all of the responsibility related to the company you are forming to your business attorneys. Not only will they be able to handle all of the contracts required to get you started, but their help with ongoing issues like intellectual property protection will also ensure that you function smoothly during early growth.