Legal problems can sink even a successful business fast, so it’s never a good idea to ignore them. While sometimes issues can wait, you should always be honest with yourself about whether you’re really “too busy” to deal with them or and if you can truly afford to wait. Here are some guidelines to gauge whether you can ride out this storm or whether you need to buckle down and take care of legal issues now.
Yes, You May Actually Be Too Busy If:
- There is a larger emergency you need to address.
Perhaps a key staff member has had a personal emergency and you’re scrambling to fill in, or a machine has suddenly ground to a halt at your factory.
- You have scheduled breathing room in the visible future.
Maybe you’re going through a hectic few weeks—racing to finish a RFP or other big project—but you have definite clear space in your calendar a couple weeks from now.
- A sudden change of events concerning one of your clients, vendors, suppliers, etc., has affected your business.
A vendor missing a big deadline, or one of your biggest clients going bankrupt, can wreak short-term havoc.
Sorry, You’re Not Too Busy, Even If You Think You Are:
- You’ve been in crisis mode for a month or more.
If you’ve been this busy for longer than it takes the moon to make one complete orbit the Earth, that’s a sign something more fundamental is wrong than simply being “busy.”
- You’re in start-up mode.
The beginning of any enterprise requires long hours—even 80+ a week—but it’s not excuse for you not to handle legal issues.
- Your business is growing/scaling.
Again, yes, this is a time that is go-go-go, but you can’t use this as an excuse to avoid getting your legal work done. In fact, it’s crucial that you do so… otherwise, your legal problems could scale, too.
When you’re ready to take care of your business’s legal needs, we’re here, so Send us a message or call us at (314) 454-9100 to get started.
Scott’s practice is dedicated to assisting entrepreneurs, investors, emerging and established businesses with the unique and often challenging issues they meet throughout the formation and growth process: from entity formation, to the management of founder relationships and economics, to the protection of intellectual property, to the financing of growth and navigating securities law compliance. He assists clients as they continue to grow and develop, whether this involves merger and acquisition activities, international licensing and distribution arrangements or counseling of directors and officers.
Scott is chair of the firm’s Securities practice. His practice is focused on advising a wide range of clients on SEC matters, securities transactions and corporate governance. He represents issuers, investment banks / financial intermediaries and investors in financing transactions, including public offerings and private placements of equity and debt securities.