Follow Geoffrey Linkedin Facebook
Email Geoffrey Email
Legal Issues
Mar 1, 2016

An Ounce Of Prevention

Sponsored Content provided by Geoffrey Losee - Partner, Rountree Losee LLP

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. 

Rountree insights blk
Ico insights

INSIGHTS

SPONSORS' CONTENT
Karagansmanncshlaw300x300

The Tax Cuts & Jobs Act’s Impact on Elder Law & Estate Planning

Kara Gansmann - Cranfill Sumner & Hartzog LLP
Denverhollingsworthheadshot

Debunking the Myths of Bulk WiFi

Denver Hollingsworth - Epproach Communications
Lr 7992 pp 911712351

Dignity Offers New Final Family Resting Places

Patrick Kelly - Dignity Memorial

Trending News

Local Airbnb Hosts Earned Nearly $11M In 2017

Cece Nunn - Jan 15, 2018

Investor Buys Leland Industrial Park Property

Cece Nunn - Jan 15, 2018

With Mattress Firm Purchase, Marpac Seeks More Sleep

Christina Haley O'Neal - Jan 16, 2018

Wilmington Design Co. Grows With Virginia Native, Wins National Awards

Christina Haley O'Neal - Jan 16, 2018

Gizdic Elected Chair Of Wilmington Chamber Of Commerce

Christina Haley O'Neal - Jan 16, 2018

In The Current Issue

Growth Spurt

More than 15 years ago, experts predicted that explosive growth would come sooner rather than later to Brunswick County. Although the Great...


Keeping An Eye On Affordable Housing

Wilmington-area officials made some strides toward improving the local affordable housing picture in 2017, though the complicated issue is e...


Economic Development Goals On Deck

The Greater Wilmington Business Journal surveyed local economic development groups for updates on their activities....

Book On Business

The 2017 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

WilmingtonBiz Expo - Keynote Lunch with John Gizdic, CEO, New Hanover Regional Medical Center
Wilmington's Most Intriguing People of 2017
2017 Health Care Heroes