1.- Delegating legal matters to the administrator or accountant. This is the most common legal mistake in companies. Thinking that your administrator or accountant is a lawyer will bring you many costly problems. Letting your administrator manage and your accountant do your accounting.
2.- Inadequate or incomplete drafting of contracts. Your service provision, sales, employment contracts, among others: DO NOT download formats from the internet. Don't do it!
These must be drafted by a specialist who knows your business model and its structure in detail, so that you protect every detail of your operation and avoid stipulating ambiguous clauses that give rise to legal conflicts, loss of income or violation of the business itself. With this you can even reduce the risks of civil liability for defective products, poor services, accidents or damages caused to third parties.
3.- Regulatory compliance problems. Administrators are not lawyers. Their training is not oriented to know the local, national or international laws applicable to your sector. Noncompliance with regulations will eventually lead to fines, penalties, government extortion, or even the closure of the company.
4. Lack of clarity in agreements between partners. Companies start as small businesses between friends and family without a corporate or shareholder agreement, which, as they grow, will undoubtedly lead to internal disputes, decision-making blockages, or even the dissolution of the company. All parties must be clear from the beginning about what they are contributing, what they are committing to, and what they are entitled to.
5. Labor conflicts. Lack of knowledge about labor laws can lead to unjustified dismissals, non-compliance with employee rights, or lawsuits for harassment or discrimination that will cause large losses or the closure of the company.
6. Tax problems. Errors in tax returns or tax planning can lead to tax penalties, costly audits, or problems with the tax authorities. Correct application of the laws will help you lighten your tax burden and avoid these problems. 7.- Poor litigation management. When facing lawsuits or legal conflicts without advice, companies can take unnecessary risks, easily lose cases or spend more money than necessary. Preventing litigation by following the points above will save you a lot of money and emotional wear and tear.
Remember: A specialized lawyer will help you identify and prevent these risks before they become bigger problems, PROTECTING YOUR FUTURE AND ASSETS.
