If you're thinking about hiring a lawyer to represent your business, here's how you should go about it.
The nature and objectives of your business will determine the legal expertise that is most valuable to you.
The best way to narrow your search for a lawyer is to share your company's specific needs with a former or practicing lawyer, a trusted friend with experience hiring lawyers, or (ideally) someone who is both a lawyer and a friend.
After you've received attorney recommendations, you should then research each attorney and their law firms. The firm's website should include the lawyer's educational background, areas of expertise, years in practice, and any notable publications or transactions.
With each recommendation, you should set up an initial consultation so that you can share the full scope of your legal needs with your prospective counsel.
If you feel that your initial consultation with an attorney is going well, do not hesitate to bring up the topic of fees. This is a critical element that can either make or break a potential attorney-client relationship, and it's best to lay the cards out on the table early.
At the end of the day, choosing the right attorney for your business is more of a feeling. If you have any apprehension about a particular candidate, then continue your search. This is why it is optimal to consider multiple recommendations from your trusted sources and then choose the legal counsel who is the best fit for you and your business.
However, you may not be aware of the factors that should go into making your decision. If you hire an attorney, they will go over the liability, tax, and ownership specifics for each option. Many entrepreneurs discover new information and change their minds on which business structure they prefer. Then, they launch businesses successfully and start profiting quickly.
You should also hire an attorney before starting a business because they can help you determine your bylaws and operating agreement necessities. These documents explain crucial information and processes for a company. You need to include components regarding shareholder meetings, decision-making processes, and the proper way to issue shares of stock. If your state demands LLC operating agreements and you choose to form an LLC, you need to include information on how you will handle ownership changes as well. According to A.E.I. Law, “an attorney can determine what type of fictitious entity is necessary, if any, as well as what licenses and permits you need and what laws and regulations you must comply with on a local, state, and federal level.” Your attorney can ensure that you fill out these documents appropriately.
A good business attorney will provide vital assistance in almost every aspect of your business, from basic zoning compliance and copyright and trademark advice to formal business incorporation and lawsuits and liability. First, some general rules about dealing with lawyers:
You will need a lawyer who can understand your business quickly; prepare the standard form contracts you will need with customers, clients and suppliers; and help you respond to contracts that other people will want you to sign. 2.
Many attorneys require payment of a flat fee upfront, so that they can cover their out-of-pocket expenses. You should always ask to "hold back" 10 to 20 percent of a flat fee, though, in the event the lawyer doesn't do the job well.
Your attorney should be a combination of a "minder" and a "grinder.".
No lawyer can possibly know everything about every area of law. If your business has specialized legal needs (a graphic designer, for example, may need someone who is familiar with copyright laws), your attorney should either be familiar with that special area or have a working relationship with someone who is.
Over the past 20 years, lawyers have become incredibly specialized. If you use a solo practitioner or small firm as your lawyer (s), it's likely that they will not have all the skills you may need to grow your business .
Like doctors, lawyers are becoming increasingly specialized. Someone who does mostly wills, house closings and other "non-business" matters is probably not a good fit for your business. At the very least, you will need the following sets of skills. The more skills reside in the same human being, the better!
Finding the Right Kind of Lawyer 1 Ask family, friends, or co-workers for recommendations. 2 Check with your state and local bar associations. 3 Consult lawyer referral services offered by a union or community group you belong to.
Many lawyers specialize in certain areas of law, such as family, estate, personal injury, contracts, or civil rights. It’s important to find a lawyer who has relevant experience with the legal area that you need. Take time to search for the right lawyer.
In a contingency fee arrangement, the lawyer takes on the risk that your case might be unsuccessful. If you don’t get any money, your lawyer won’t get attorney’s fees. In some contingency fee arrangements, you might have to reimburse the lawyer for case-related expenses even if you don’t win your case.
If you pay a flat or “fixed” fee, you pay the lawyer a set dollar amount for a service, like writing a will. Many lawyers charge a flat fee for uncomplicated services like drafting incorporation papers, handling an uncontested divorce, or filing a simple bankruptcy.
If you think your lawyer didn't treat you fairly, didn’t handle your case effectively, or overcharged you, talk with him or her and try to work out an agreement. Depending on the circumstances, you may be free to fire your lawyer, or you may need a judge’s permission.
An experienced lawyer may charge a higher hourly rate than a beginner, but they may take fewer hours to do the job. Before you agree to pay a lawyer an hourly rate, get a written estimate of the number of hours it will take to complete your case, so you have an idea of your total costs.
Especially if there is a sizeable estate, tax issues, or a complicated or extensive distribution plan, it is important to find a lawyer to be sure things are done right. You Are Adopting A Child. Adopting a child is an important matter, and an attorney will assure things are done right. A Contract Is Needed. It is essential that you understand the ...
Things clients want to pursue as “a matter of principle” are rarely worth pursuing in court. This includes problems like someone demeaning you (slander and libel), causing you “emotional distress,” and minor disputes between neighbors. You won’t be able to prove any monetary damages.
If you don’t understand the terms, or how to prepare a contract, consult a lawyer. If you need a complex business organization (multiple entities), have complex tax matters, need to file for a patent, or become involved in litigation, hire a lawyer.
In some states, even if you are in agreement , or close to agreement, you can both hire one lawyer to assist you in getting through the legal process. You Need To Administer The Estate Of Someone Who Died.
You may have automobile or homeowners insurance, but it is still advisable to consult a lawyer. If you or a family member have been injured, and it appears you have a good claim, most personal injury lawyers will not charge you any fee, but will take payment from the judgment they obtain.
The Value of Hiring a Lawyer. Legal services generally do not come cheap. The more complicated your legal problem, the more you will need legal advice, and the more it will cost for legal help. In some cases, it can be much more costly to try to represent yourself.
Do you really want to start your own business, or is it just a momentary fling? Before you even consider starting a business seriously, make sure you know whether you really want to be in this venture.
Starting a business while being employed by another company involves added risk. Go through the NDA, terms and conditions, or any other employment document that has your signature in it to check if you're allowed to be part of a side business during full-time employment.
When you think of a business idea, you should also discover your strengths and weaknesses. Choose a business where you can leverage your skills and won't need to utilize your weak points.
Before starting a business, you must know what you want to achieve. If you don't have realistic and attainable goals for your business, you'll have difficulty becoming successful.
When you want to become a business owner as a full-time employee of another company, choosing a business that does not need financial investment upfront is a safe decision. It'll safeguard you from financial losses even if the business doesn't go as expected.
When you start getting profit from your business, don't be foolish enough to spend that or think it's time to quit your office job. Try to save most of the money you get from your business.
While you're doing a job and a business side-by-side, remember that both are your responsibilities. At the same time, draw a clear line between these two professions. Never work on your own business during office hours or use the company system or any other resources.
A letter to an attorney can be the first step to getting the help that is needed. There are several reasons to ask a lawyer for help . A letter can ask for initial help with a variety of issues. Help may be needed to know what is happening with a pending case such as a child custody case or a car accident.
The body of the letter is the main reason for writing to the lawyer. If there are questions being asked, explain why they are being asked. If important information is being referenced make certain names, places, dates, and any other pertinent facts are included. This will ensure that the attorney knows exactly what is needed from him.
The reason for writing the letter is to let the lawyer know exactly what is needed. Simple language is the best. There is no need to try and impress him with big words. Using outdated phrases such as “in regards to” or “advise me” would be better simply put as “regarding” or “let me know”. Keep the letter short and to the point.