Entrepreneurs should always be ready to deal with diverse issues. A business person is from time to time faced with legal, financial and commercial related matters that they cannot deal with on their own due to their complexities. They are better off tackling these matters with legal experts to avoid making errors that could risk them losing a lot. These experts are business attorneys.
Business lawyers are essential for any business because they have in-depth knowledge of laws and offer good counsel on legal matters. They are very skilled at maneuvering issues of various complexities. When choosing a business lawyer, here are the things to consider to make a great selection:
You do not necessarily need to go to a big law firm. Major law firms have experienced attorneys and do great work, but are expensive. They are not convenient options for routine tasks if you don’t have a big budget. They are ideal when you need their brand or label associated with you like when you are going public.
Choose someone whom you can freely interact with. The relationship with your lawyer will require a personal connection with them to succeed. When you open up your life to them, you gain.
Look for business experience. An experienced attorney is bound to give you expert advice. Associates straight from school do not have the practical experience yet.
Think of your lawyer as a part-time VP legal. Some lawyers are okay with being consulted regularly at a fixed fee every month. These type of arrangements help your business save money as you are able to grow your business with a smart individual who understands your business well.
Choose a lawyer who makes deals, not breaking them. Many business deals usually have reasons why they can’t work or do not feel right. Your lawyer should advise you on the merits and demerits of the deal and assess your risks rather than call it off.
Find someone with a good network in the business community. It is an added advantage when your operations are made easier by the connection your lawyer has in the business world.
Look for a person with a great personality. The importance of this is that it will help to make things happen. Warm personalities are more appreciated than cold personalities that antagonize other people.
Think bottom line. If a lawyer is able to bring back more money to your business than you pay to hire them, then the decision to hire them is valid.
Do not lay much emphasis on the amount they charge per hour. Some lawyers charge less for extended hours while others charge more and quote shorter hours to get a job done. What you need to do is focus on the value you will get from the transaction. However, work with an attorney who is open to a flexible or fixed fee arrangement.