Contribution from an author in the legal sector explaining how you can find the perfect lawyer for your business:-
As a new business owner, you probably find yourself often wondering:
What’s next?
You are always trying to determine what your next step should be…
Well, when you are considering who should be next in your list of professionals to hire, there are two essential ones every business needs:
An accountant and a lawyer.
While the reasons for hiring an accountant might be obvious – reviewing your numbers periodically and preparing necessary tax returns – the reasons for needing to hire a business attorney might not be lurking in plain sight…
But, when it comes to running a business smoothly and effectively, you will need a lawyer on your side to help with any partnership-related issue that might arise, angry employees threatening legal action, and various other scenarios that arise in the business world.
Since you’ll be working with them so closely on sensitive issues, it is vital to your business that you have the perfect lawyer for you…
What qualities should they possess?
There are lawyers who have experience in everything from handling large corporations to just standard divorce cases…
But, the more skills they possess, the better for you.
Try to find a great lawyer who has the following skill sets:
- Business Organizations: They should be able to help you decide whether to form a limited liability company (LLC) or a corporation. In addition, they can help you better organize your business and prepare the necessary paperwork.
- Contracts: One of the first steps to a successful business-lawyer relationship is your lawyer’s ability to understand your business quickly. Once they understand your business, they can help prepare the standard form contracts needed for clients, suppliers, and customers.
- Intellectual property: Especially if you are in a creative-type business, it is extremely beneficial if your lawyer can help you register your services and products for copyright protection or federal trademarks.
- Taxes and licenses: Remember how an accountant is just as important as a lawyer? Well, they can’t do it all, so all the more reason to get a lawyer. Your lawyer should know how to register your business for tax identification numbers – state and federal. In addition, they should understand the tax consequences of the type of business you handle. This will help set a solid foundation for your accountant.
- Real estate: Leasing commercial space is highly complex and requires a lot of fine print and signatures. Keep a real estate knowledgeable lawyer on hand to ensure you are getting a good deal.
What do I ask when interviewing attorneys?
Now that you know the traits you are looking for, the next question on your mind is probably how exactly you go about finding those traits in an attorney…
When searching for the perfect lawyer, it is like searching for the perfect business partner…
You ask a series of questions to determine their knowledge, connections, and personality:
- Do you have experience?Don’t be afraid to question the lawyer’s experience…
Your business is your baby and you are looking for someone to be a valuable asset to your team and aid in caring for it.
For example, ask if they are familiar with contracts and real estate – or other big-ticket items on your list of things they will assist with.
- Do you have other clients in my industry?The best learning tools come from experience itself.
However, someone has to be the first client of that lawyer in an industry…
While, ideally, you want someone who is at least somewhat familiar with your industry and legal environment, if they are not, they should be willing to learn the ins and outs.
So, if they answer “no” to this question, then follow-up by questioning their dedication to learning about it.
- Will you be flexible with your billing?Most lawyers charge a flat one-time fee for matters that are considered routine, but there is some room for negotiation…
While most business lawyers won’t work for a “contingency fee,” meaning it is only payable if you are satisfied, they will give a little on their fee.
Ensure you understand your financial responsibilities from the beginning.
- Are you a good teacher?
Your lawyer is there to keep everything running smoothly when it comes to legal issues…Ensure your attorney is willing to take the time to educate you and your employees about the legal environment of your business.This will also help avoid any mistakes that are commonly overlooked but easily avoidable.
In Summary
Aside from being an advocate for you and your business in the event of a lawsuit or other legal matter…
A good business lawyer will help you properly prepare your business for success and help you and your employees avoid legal issues from the beginning.
Finding the perfect fit for you starts with determining what you are looking for and asking the right questions to ensure you hire the right person for the job.
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