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
Screenshot2022 01 06at338 162234623

Genesis Block Targets Contract Conversion with MED Week Event at The Wilson Center

Girard Newkirk - Genesis Block
Chris coudriet

A Public Service Profile on Capital Projects and County Facilities

Chris Coudriet - New Hanover County Government
Cd

Don't Forget the "B"

Hoop Morgan - The Forté Institute, LLC

Trending News

National Retailer, More Coming To Hanover Center

Cece Nunn - Nov 29, 2022

Cape Fear Commercial Partners With Developers On Leland Project

Cece Nunn - Nov 30, 2022

Developers To Mark Growth Of Soda Pop District Project

Staff Reports - Nov 29, 2022

New Nosh, Including True Blue Street Food Concept, Coming To Cargo District

Miriah Hamrick - Nov 30, 2022

The Vault Opens With Unique Wine Cellar, Coffee To Go

Miriah Hamrick - Nov 30, 2022

In The Current Issue

Film Festivals Make A Comeback

Area film festivals took a hit when the COVID pandemic was at its peak, but their organizers expect lessons they learned about the importanc...


Retirement U-Turn

Many Cape Fear area retirees might initially opt for a life of leisure but discover that they still have a lot to give, and perhaps a lot to...


Back To School At Any Age

Amy Keith returned to UNCW in 2009, this time as a program coordinator at OLLI, which focuses on lifelong learning for people 50 and older....

Book On Business

The 2022 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

Trying to Grow a Business?
2020 Health Care Heroes
2020 WilmingtonBiz 100