If you’ve heard it once, you’ve heard it a thousand times – Ben Franklin’s age-old axiom, “An ounce of prevention is worth a pound of cure.” You’ve heard it from your insurance broker, your family doctor, your financial adviser, and other trusted professionals.
Unfortunately, many business owners fail to consider the importance of preventative legal advice when it comes to their business relationships.
As an attorney, I see the effects of my clients’ failure to abide by Ben Franklin’s advice on a daily basis. For example, one of our firm’s clients recently came to us with contract dispute it was having with a vendor. Without fully reviewing and understanding the fine print on a standard form agreement, our client had signed a multi-year agreement with a number of unfavorable terms, including a significant liquidated damages provision in the event of breach. The client had ceased its relationship with the vendor some months ago, without consulting counsel, and without recognizing that this action could subject it to significant liability. Months later, the client received a letter from the vendor’s lawyer seeking liquidated damages for breach of contract in the amount of many, many thousands of dollars. As you may expect, this led to a significant amount of unnecessary legal expense to extricate the client from a bad situation.
This case, like many others, could have been avoided with that “ounce of prevention” Ben Franklin encouraged us to take – prior legal consultation. Since our firm’s founding, the lawyers at Rountree Losee have taken our role as counselors at law very seriously. We take pride in serving as “partners” in our clients’ business success, working as trusted counselors and advisers for our clients by helping them navigate the sometimes complicated legal framework in which they operate.
From contract negotiation to business succession planning, and from corporate governance matters to asset protection, our lawyers regularly assist clients in making informed decisions about their businesses. This consultation helps our clients avoid the significant time and expense of resolving unnecessary disputes. Call us today to discuss how we can provide that “ounce of prevention” that may help you avoid a “pound of cure” later.
Geoff Losee can be reached by visiting www.rountreelosee.com, by email at [email protected] or by calling (910) 763-3404. Rountree Losee LLP has provided a full range of legal services to individuals, families and businesses in North Carolina for over 110 years. As well-recognized leaders in each of the areas in which they practice, the attorneys of Rountree Losee provide clients a wealth of knowledge and experience. In their commitment to provide the highest quality legal service, they handle a wide range of legal issues with creativity, sensitivity and foresight.
Group Planning Indoor Skydiving Facility On Eastwood Announces Updates
Staff Reports - Mar 21, 2023
Possible Writers Strike Could Be Felt In Wilmington Film Scene
Jenny Callison - Mar 20, 2023
Former County Commissioner Woody White Appointed To UNC System Board
Jenny Callison - Mar 22, 2023
City Takes Next Steps Toward Possible Purchase Of Thermo Fisher Building
Staff Reports - Mar 22, 2023
Oklahoma Onion Burgers Planned For The Pointe
Miriah Hamrick - Mar 22, 2023
Doug Hamerski is a nephrologist who likes to spend his free time on other sciences, from circuity to radio. This pastime has now grown to a...
Open since April 2014, Southport Smoke House has been introducing guests to owner Troy Knight’s home state of Texas brand of barbecue: beef...
Cameron Lee sees a lot of parallels between golf and life: You have to make good decisions, evaluate risk versus reward, be smart and be hon...
The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.