There’s no telling when you might feel the need for an attorney by your side; in fact, not too many of us realize it until time slips away. If you’re a business owner, consider it imperative to invest in the skills and experience of an established and committed lawyer.
When you work with corporate lawyers, they work on behalf of the business to back you up with legal counsel and services. They hold the expertise in all facets of corporate dealings that are legit to make sure you’re not caught on the wrong side of the law.
Gearing Up for Legal Practice.
To help you understand, business attorneys are focused at defending clients, provide legal advice; assist in guarding financial security, real estate, and other such responsibilities. They defend individuals or corporations in acquisitions and mergers, business contracts, disputes and resolutions, and just about anything that screams “legal.”
You want to make sure the attorney you hire to safeguard your business’s legal requirements has the credibility and know-how to practice professionally in your state. A license is mandatory, without which they aren’t at liberty to practice.
By law, they need to pass the American Bar Association (ABA) examination in that state (also called the Bar Exam). A Bachelor degree and Law degree from a renowned institution are prerequisites to taking the Bar exam. It doesn’t quite end there; some states have made it mandatory to pass an ethical exam as well.
What Time Is the Right Time?
Rather than putting your foot into legal situations on your own, it’s best to let the experts do their job. It’s in your best interest to make sure your business, and everyone working under its umbrella, is legally protected.
If you’re being sued, and the sheriff is already at the door with a summons, consider it a little too late. The American judicial system is such that it’s not tough finding your way into court, but it feels like quicksand getting out unscathed. Nobody likes dealing with lawyers, but dependable corporate lawyers guarding you like a rock in a legal predicament is big.
As a corporate giant or business owner you would want to know that the fee a lawyer charges to keep you on the good side of the law is a small fraction of what your lawyer is likely to charge to get you out. Once you do the Math, you’ll realize it’s a fantastic idea to invest time and effort in a well-rounded attorney for the greater good.
Which Is Better – Big or Small Firm?
Obviously, large firms fare better than smaller ones, even though they might have a greater overhead and higher hourly rates. They have diverse and specialized skills, and a lot of leverage with local, and sometimes, national communities. A written statement from a well-established law firm with offices spanning several states generates more noise than a nasty letter from a solo attorney.
What’s more? Large law firms can help introduce you to incredible financial sources; you definitely want this kind of comradeship to get the ball rolling for your growing business. This will come in handy when you have to work with recognized lawyers in investment baking and of the sorts.
The Hot Seat.
Sifting through corporate lawyers is a must if you need the best from the rest. This calls for time and patience, and weighing your options to make sure your business is legally secured:
Experience matters: Ask direct questions like, “How much experience do you have?” There’s no reason to feel awkward asking direct questions. It’s always good to know who you’re up against.
Building network: A business lawyer needs to be “well-connected” to make sure your legal situation is handled as best as possible, and sometimes that means connecting with a specialist. It would be silly to scourge for a new lawyer every time a legal situation crops up.
Clientele: Make sure the lawyer is familiar with your industry and the legal standing surrounding it. If it’s a “maybe” scenario, they should be willing to learn everything there is to your business. Though there’s a code of ethics every lawyer is expected to follow, find out if a business competitor is one of the clients in their clientele – accidental leaks of sensitive material is a possibility here.
Billing: Most lawyers work with flat fees on a one-time basis for routine stuff, but sometimes, unless you ask for it, it’s not likely to happen. Find out if that includes out-of-pocket expenses as well. While you’re at it, find out when the fees needs to be paid. It’s also a good idea to hold back 10-20% of that if you’re doubtful about the lawyer’s expertise.
Taking the Plunge.
It’s never easy finding corporate lawyers in a locale crawling with the best and worst, of which, only a handful of them are probably worth considering. That being said, it’s always better to stay prepared when it comes to legal challenges rather than waiting for all hell to break loose.
Taking some time to shortlist and sift through eligible lawyers to represent your company in its good and bad times is worth every penny. It’s never too late to start if you haven’t already.
