Published on December 18th, 2019 | by Sunit Nandi0
Choosing the Right Lawyer For Your Business
If you have a growing business, you’ll need to consider looking for an attorney at some point. The process of hiring an attorney can be intimidating. It could be the first time you’re going through the process and you’re not really sure what to look out for. Ultimately, you will be looking for a long-term and mutually beneficial relationship. Here are some tips that will come in handy if you’re looking for a business attorney.
Figure Out When You Will Need an Attorney
This is something that will vary for every business. Ideally, you should be getting in touch with an attorney the sooner your business starts growing. You want to work with an attorney that will be with you from the start. They’re likely to understand your journey and what you stand for. If you’re just starting out, it is recommended that you get in touch with different attorneys and ask them about their rates. Once you’ve looked at the rates, you’ll be able to determine if it is something that your business can afford.
Type of Lawyer
You will also need to pay attention to the kind of lawyer you need. Not every lawyer is going to be right for you. The majority of business attorneys will handle formation needs for the most part. This will include things like putting together a partnership agreement or transitioning to another type of business. You might need an attorney to help with the taxes. There are businesses that deal with cryptocurrency trading. Since it is a new kind of business, it can be challenging to get the right attorney. You can check this page from a Cryptocurrency Attorney.
Your business lawyer should be like your general practice doctor. Any legal issues to do with the business should be addressed to them.
Get a Lawyer Who Understands Your Business
An attorney will only provide the best representation when they fully understand your business. You want to work with an attorney that has a clue about your industry or is willing to learn. There could be regulations in your industry and you don’t want to get in trouble with the law. Having someone that understands the regulations will come in handy for your business. For the majority of businesses, a willingness to learn is all it takes when looking for an attorney.
The Right Size Law Firm
There are advantages and disadvantages to working with a big and a small law firm. You’re likely to get individualized attention when you’re working with a small law firm. You can always make adjustments when the business is growing. A big law firm might be focusing on Fortune 500 companies and will not give your business the attention it deserves.
Another issue that you’re likely to encounter is the confusion of the exact person that you’re going to be working with. Is your work going to be assigned to an associate or someone who is fresh out of law school? Such concerns might force a business to look for a law firm that is genuinely concerned about their affairs. Make sure that you know the person you’ll be working with whenever you reach out to a law firm.
If we’re being honest, you’re not likely to get good legal advice for cheap. A good law firm will have regular events where they get to meet and interact with the clients. They should also be in a position to refer you to other attorneys when you’re in need. Don’t be afraid to ask if the law firm has the necessary resources needed for the betterment of your business.
It is recommended that you look for a lawyer that is based in your city. You will be requiring their legal counsel on a regular basis. Working with an attorney from another city can be a daunting endeavor. You need to have regular face-to-face meetings with the attorney, especially when facing legal challenges with the business. An attorney that lives outside your state could as well serve the business needs but it will be an impersonal relationship that is not good for the business.
To sum it up, it is imperative that you’re comfortable with the structures in place. There should be openness on the fees and work processes so that you’re aware of what to expect right from the onset. Business attorneys usually work on an hourly basis. There are those that will charge a fixed rate for each service they provide. It will be up to you chose the option that you’re comfortable with.