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Tips on How to Get a Business Attorney

Companies / SME Jul 03, 2021 - 04:32 PM GMT

By: Dylan_Moran

Companies Every business, regardless of its size or how long it has been around, should have a good lawyer on its side. There's just no knowing when legal issues could come up, and even innocent mistakes can cause a good deal of trouble for business owners. Read on to find some tips for how to get the best attorney for any business.

1. Know What to Look For

The first step to finding a good business attorney is knowing what kinds of legal help the company might need. It's always best for business owners to hire a lawyer before they encounter any kind of legal trouble, but for reference, here are a few circumstances that warrant finding a lawyer.

  •  It's time to choose a business entity.
  • Business owners want to raise venture capital.
  • Partners must draft a founder agreement.
  • A contract needs to be reviewed.
  • There have been issues with labor law compliance.
  • It's time to obtain a trademark or patent.

The business owner has questions about commercial real estate.

The reason it's so important to know which of these situations might apply is that some business attorneys practice only specific areas of business law. Business owners can hire an Austin Real Estate Lawyer for leasing questions, a trademark lawyer for help with obtaining IP protection, and a labor law attorney for employment issues. Alternatively, they can work with firms that offer more comprehensive legal services.

2. Compare Options Wisely

It's best to treat finding a business attorney just like seeking out any kind of professional help. Choose a few local law firms and schedule meetings with multiple attorneys to increase the chances that one of them will be a good fit. During the interview, ask questions about the firm's fee schedules, experience level, communication preferences, and potential conflicts of interest.

Make sure to compare apples to apples. If one attorney only offers help with drawing up contracts and another one is willing to represent the company in an employee-filed suit, those two lawyers are not offering the same services. In most cases, it's best to look for law firms that have multiple lawyers on their staff to accommodate a variety of client needs.

3. Stick to the Budget

Small business owners know how important it is to stick to their budgets. While money shouldn't be the top concern when finding a qualified business attorney, it makes most people's lists. Generally speaking, hourly billing rates start at $150 and can extend to more than $1,000 per hour. Some lawyers also charge flat fees or contingency fees, and most will offer retainer agreements.

Get the fee schedule in writing and make sure it's clear before signing on the dotted line. It can be hard to figure out how different fee schedules will impact the company's bottom line. When in doubt, consult an attorney.

Final Thoughts

No matter how hesitant business owners are to admit it, legal problems are almost inevitable. That's why every business should have a lawyer on retainer. If anything comes up, the business owner will know immediately who to call and the lawyer will already have an idea of what to expect. 

Taking the time to find a business attorney or law firm that will offer a good fit now can eliminate a huge number of hassles and headaches in the future. Follow the tips\

By Dylan M.

© 2021 Copyright Dylan M. - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2022 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

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