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It's not always necessary to hire a business lawyer or any kind of lawyer for that matter. According to Advance Capital Management, only about 10% of people without a will or trust have approached an attorney or professional adviser for help.
However, if at some point you need the services of a business lawyer, it's essential to choose the right one for your needs. Here are some key questions to ask to help you find the best attorney for your business.
Of course, your budget is the most important thing to consider, so you want to know how much it will cost to get legal help. This ensures that you don't waste time discussing any additional matters only to find out that you can't proceed because you can't afford their services!
The goal of any business is to boost the bottom line, which means seeking cost-effective legal counsel. If you feel that your lawyer is a bit pricey, you can always try to negotiate. But also keep in mind that you might have to pay more for quality service. After all, you generally get what you pay for. The good news is you can still find ways to reduce the cost of your lawyer's services. For instance, you can do some of the paperwork yourself.
While on the subject of money, you should also ask if they will require a retainer and whether it's refundable if you don't use any or all of the money. You don't want to throw money down the drain, so make sure you understand all the terms and conditions related to the retainer.
To avoid nasty surprises down the line, find out how your lawyer will bill you. If you have a complicated and protracted issue, it's often better for your lawyer to charge a fixed fee because those hourly charges can really add up.
There are all sorts of attorneys on the market, and some are general practitioners that will take any client. In most instances, you can never go wrong with a business lawyer that specializes in business matters and has intimate knowledge of your industry. For instance, if you need help with business matters like intellectual property and service contracts, you need a lawyer that knows what they are doing.
A general practitioner spreads themselves thin by practicing in different types of law, such as criminal and family law. If you have a complex case, they won't have the special knowledge and skills required. You will find that although specialists tend to charge more, their services are well worth it.
To verify that you're dealing with a specialist, ask the lawyer what type of clients they work with and whether you can speak to any previous clients. This helps you confirm that the attorney is familiar with your business and your industry.
Communication is very important if you want things to flow as smoothly as possible. First, you want to ensure you're using a communication method that's comfortable for everyone, be it email, phone, or video call. You should also find out the amount of communication to expect from your business lawyer.
Some attorneys will only brief you during in-person meetings and may not be available outside that. Other attorneys are more flexible, so you will be able to reach out if there's a need. If you plan to reach out, in-between meetings, find out how long it takes, on average, before you hear back. This will help you determine if the lawyer's communication style works for you.
Depending on how complex your case is, your lawyer might assign certain tasks to paralegals and other staffers. However, your business lawyer should never delegate crucial tasks.
Remember, you're paying for their expertise, and if they delegate an extensive amount of work related to your case, it means you're being cheated out of that expertise. Therefore, don't be shy about inquiring about other people handling your case and whether they are qualified to do so.
Asking these questions will help you find the right legal counsel, whether you're just starting your business or looking to expand. There are many instances where the advice of a reputable and qualified lawyer will put you and your business in good standing. If you need to find a business lawyer who can answer your questions honestly and satisfactorily, don't hesitate to get in touch!
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