When was the last time you had your oil changed? Is your check engine light on, mine is, but I have scheduled an appointment to have it serviced. We perform preventive maintenance on our cars, equipment, and so many other things. Why do we do this? We do it because it is more expensive to replace than to maintain.
Why is preventive maintenance for your business overlooked so often? For starters, your business does not have a check engine light to warning you. It is hard to know when something is wrong or is going to go wrong. But, I believe the main reason it is overlooked is the fear of outrageous, unknown legal fees. After all, everything is going smoothly do I need to add any additional expenses.
The problem with that mentality is that it is a self-fulling prophecy. Use the same thought process for maintenance of a car. Everything is going smooth, but instead of changing the oil, rotating the tires, and replace the air filter you do nothing and continue driving. Why add a $30.00 expense when everything is going swimmingly, right? Wrong there is wear and tear, you are getting reduced gas mileage, and final your car breaks down. Instead of paying $30.00 for an oil change, now your car’s engine seized the cost to repair the damage are now in the thousands. The damages were completely avoidable by simple preventive maintenance.
Is this an over simplistic point? I do not think it is. How many times have your had an attorney review a contract before you signed it or your liability risks? Do you have employment agreements, non-compete agreements, or non-solicit agreements in place? Do you have your intellectual property protected?
Isn't your business more valuable than your car? After all your business is what gave your the resources to buy the car. Protect your business with preventative maintenance.
Preventative maintenance for your business does not need to be expensive. At King Law, we are developing a subscription plan for these services that will be affordable to the leanest of startups. A simple monthly or annual fee. You will know up front so no surprise legal fees. Our goal is to be a business partner, not a business expense. You should focus on the import things such as running your business let us focus on the rest. If you have any questions, please contact us.
Benjamin F. King
My goal is to bring issues that are often over looked. But, this blog is not legal advice it is only for general information. Each situation is fact specific.