Something about Business Law

Sooner or later, all businesses will need the valuable legal services of a business law firm. The timeline of when you will need to retain an attorney depends on how well you’ve been running your business, what kind of issues you’ve encountered and how you’ve handled them, and sometimes, just plain luck. In any event, any business professional will tell you that when it comes to having a lawyer ready to fight for you, or simply help you out with complicated paperwork, it’s better to already have a lawyer retained, rather than having to set out to find a lawyer, while you’re simultaneously juggling other time-sensitive issues.

Research your chosen business law firm.

Find out what the law firm has to offer, but just as importantly, what credentials and training they have. A lawyer can sing the praises of his or her law firm all day long, but unless they have documentation to back all of that up, the words are meaningless. Ideally, you will want to select a business law firm that is a global corporation (for example, Robert Bratt DLA Piper), as these law firms have vast amounts of experience, as well as individual lawyers, to serve their clients. With a law firm such as this, the chances of having a problem that can’t be quickly and efficiently handled are slim to none.

Ask your business lawyer how they can help you.

Some business lawyers reserve their services only for actual litigation, which means that while your lawyer won’t help you handle tax deadlines and the associated paperwork and legal hoops, he will show up to help you get through an IRS audit. Obviously it’s much more cost-efficient and stress-relieving to have legal guidance before problems occur, so make sure that any potential lawyer you’re considering will be available pre-preemptively, before a crisis has happened.

Find out about fees.

Lawyers are expensive, but some are more expensive than others. Furthermore, some lawyers charge more for individual services, while others charge less because they actually prefer the a la carte approach to providing — and billing for — services. Ask for a written list, and find out if you will be paying per hour, or per “project”. Depending on the needs you have and how big your business is, it may be cheaper and easier to simply be billed by the hour, rather than by the task.

Put them to work.

You’ve carefully fielded potential business lawyers and you’ve selected the one you’ll be working with. Now it’s time to bring them up to speed with your business. Give them details of your business, including the products or services you sell, your average monthly revenue and expenses, how many employees you have, as well as copies of deeds, leases, and rentals. And if you have any current legal issues or potential legal issues you’re concerned about, now’s the perfect time to hand them over to your newly hired lawyer, and let them handle the matter for you.

This entry was posted on Saturday, January 25th, 2014 at 9:07 am and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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