Many business people seem to think of lawyers as a tool you keep in your toolkit. You pull it out when you have a specific need and then put it back for another day. This is a very reactive approach and rarely a good practice for your business. Worse is when you don't even know an attorney to use until something has already happened and you have an immediate need.
To answer the question posed in the title to this post, you should not only hire but engage a lawyer for your business as soon as possible. A good business lawyer can help you plan and manage and protect your business. Finding and engaging an attorney can allow you to better predict things, good and bad, that could happen with your business.
Put an amount in your annual budget for hiring quality counsel. It is money well spent and can mean the difference between a successful business, ready for what lies ahead, and a business that is already in trouble. Having counsel guide you along the way can save a lot of money that will be needed if you end up in litigation or have other problems.
I help new clients who have immediate needs, but often their retainer has to be a lot higher.
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