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
Dallas headshot 300x300

If You Love What You Do, Why Should You Make Plans To Leave?

Dallas Romanowski - Cornerstone Business Advisors
Christy2

Roof Maxx is a Roofing Disrupter

Christy West - Roof Rescue of Wilmington LLC/Roof Maxx
Michaelhiggins 41019104338

Pre-Planning Essentials For The Frequent Traveler

Michael Higgins - Dignity Memorial

Trending News

In Downtown Wilmington, Dupont Circle Restaurant To Open 2nd Location

Cece Nunn - Dec 3, 2019

At Mayfaire, Brunch About To Be Served

Jessica Maurer - Dec 4, 2019

Real Estate Firm Opens Office At Mayfaire Town Center

Cece Nunn - Dec 4, 2019

Economist Highlights Regional Growth, Opportunities At Annual Wilmington Scorecard

Christina Haley O'Neal - Dec 3, 2019

K9000 Dog Wash To Open New HQ Space In Wilmington

Christina Haley O'Neal - Dec 5, 2019

In The Current Issue

Sport Attracts Players To Leland

When you want to socialize and engage in a multi-generational activity, Leland has a place to go: the House of Pickleball....


Take It Away, Thanksgiving Day

Not everyone looks forward to spending half the holiday in the kitchen on Thanksgiving Day. Fortunately, there are plenty of local options....


Hard Labor: Employers Face Strained Searches For Workers

Some businesses are struggling to find qualified workers in a tight labor market, and the Cape Fear region is feeling the effects....

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WILMA Leadership Accelerator
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`