HomeBusinessWWE's Situation: Why Lawyers Are Important for Business

WWE’s Situation: Why Lawyers Are Important for Business

World Wrestling Entertainment, Inc. (WWE) has been trending in the news recently due to Vince McMahon’s retirement from his position as CEO. This sudden announcement happened in the midst of public backlash due to misconduct allegations. According to CNBC, McMahon has been accused of paying off several women to keep his affairs with them private. WWE’s board of directors is now investigating McMahon, and outside entities are getting involved as well.

Whether this situation is stemming from false allegations or McMahon is actually guilty, it goes to show what kind of problems can hit a company at any moment. This is why business owners should always have lawyers by their side whenever they make a decision. Failing to consult with a lawyer could lead to reckless actions, misunderstandings, or both. No matter a person’s intentions, the legal consequences matter.

What Lawyers Focus On

Lawyers can occupy any side of a business transaction. A New York workplace accident lawyer will focus on helping employees get compensated for work injuries. A bankruptcy lawyer might help debtors keep creditors off their backs. A certain type of business litigation lawyer might choose to represent unhappy customers. An entrepreneur, on the other hand, needs a lawyer who understands how certain activities could spell problems for business. These problems could grow and become complicated over time if they’re not addressed early on.

Contracts and Transactions

The current issue that WWE is facing is based on unrecorded payments. A good lawyer can emphasize the risks of paying people under the table, especially for something that is frowned upon. A lawyer can also help a business owner secure his or her financial transactions so that unforeseen issues don’t spring up later. There are often potential loopholes in contracts and business procedures. For example, a contract might be missing critical information that’s required by law. Or, a contract might be written too vaguely to be enforceable. These are just two examples of ways that a lawyer can help make sure that contracts and transactions are airtight.


A business owner should do everything possible to protect the company’s reputation. A lawyer can help a business owner avoid activities that could reflect poorly on the company. Not only this, but a lawyer could also help with identifying and handling slander in the media that could damage the company’s image. Just as a Virginia construction accident lawyer protects people who get physically hurt, a defamation attorney can protect an entrepreneur whose reputation is hurt.

WWE is a very large company. Most business owners will never have to deal with a problem as large as the one that the professional wrestling promotion is facing. However, this doesn’t mean that business owners aren’t susceptible to similar problems at a different scale. Even the most innocent entrepreneur could have top managers who are abusing their power, or there could be people on the outside who are looking for trouble. To avoid these concerns, every business owner should have a lawyer to consult with on a regular basis.

I am Content Writer . I write Technology , Personal Finance, banking, investment, and insurance related content for top clients including Kotak Mahindra Bank, Edelweiss, ICICI BANK and IDFC FIRST Bank. Linkedin


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