by Stephanie Pottick, Esq., Pottick Law PC & Protect for Success
Legal issues can be especially important in the toy industry. From product liability, intellectual property, and contracts to manufacturing and licensing, many areas of the law affect the toy industry, your business, and even your bottom line.
Whether you’re just starting out or already established in the industry, knowing when to bring in a lawyer and how to find the right one can be the difference between successfully closing a deal and getting your product to the finish line or not. The goal is to incorporate business and legal so you can make the best decisions for your company.
Keeping your business safe from potentially costly mistakes is worth the extra time and effort. And finding someone who understands how legal matters affect your business is priceless!
I get it: Before becoming a lawyer, I worked in the toy industry on the business side. There was a lot to deal with day to day, but having the proper guidance can make a big difference.
When you start out, you may feel comfortable DIYing some legal things like setting up your business entity or filing a basic copyright. But as your company grows and you face more complex legal challenges, like negotiating a licensing agreement or handling product safety, having a lawyer on speed dial is necessary to get the proper guidance.
TIPS TO FIND THE RIGHT LAWYER:
- Experience: Choose someone with experience in the toy industry or with consumer goods so they understand the unique challenges of our industry.
- Expertise: You wouldn’t hire a divorce lawyer to help you with your licensing contract, would you? Of course not! So, make sure you hire someone who understands the areas of law you need (licensing, trademarks, contracts, product safety, etc.).
- Ask for Referrals: Ask your colleagues and industry associations for recommendations. They can tell you who is great to work with and who to avoid.
- Personality: Yes, it’s true: You should like your lawyer! Hire someone you enjoy working with who looks out for your best interests. It’s a bonus if they explain complex legal issues in an easy-to-understand way.
QUESTIONS TO ASK:
- For how long have you been practicing law?
- How much experience do you have experience working with toy companies on [INSERT YOUR TOPIC HERE]?
- How do you work with your clients?
- How much will you charge for this project?
- What will it look like to work together on an ongoing basis?
Bottom line: Keeping your business safe from potentially costly mistakes is worth the extra time and effort. And finding someone who understands how legal matters affect your business is priceless! If you have not yet found your perfect fit, then keep looking. You’re never stuck working with someone and can change legal teams when it makes sense. Finding the right lawyer for you is what counts. Stay safe and stay legal!
* Disclaimer: This article is for informational purposes only and is not intended to be legal advice.
A version of this feature was originally published in the 2025 edition of The BIG Toy Book. Click here to read the full issue! Want to receive The Toy Book in print? Click here for subscription options!
The post Raising the Bar: The Essential Guide to Hiring a Lawyer for Your Toy Company appeared first on The Toy Book.
