Choosing Legal Representation for Your Business: 5 Things to Consider
The relationship between a business and its attorney is an important one. To make the best choice, it is vital to assess what you need and who the best person is to deliver that on your behalf. There may be some trial and error, and just because you create a connection, doesn’t mean you have to stick with that particular route if it isn’t working out in the way that you had hoped. This guide has five things businesses should consider in the process of selecting their legal representation.
Why It Is Necessary
Why do businesses need legal representation in the first place? Well, it’s not always as dramatic as protecting assets against a liability suit. There are lots of things that attorneys can do for a business, regardless of whether it is a large or small one. These include dealing with employees, protecting assets, and ensuring state compliance.
There is little to no point working with an attorney if they do not have experience with businesses. In fact, it is unlikely that a lawyer would take on your firm as a client if they don’t specialize in this area. So, save yourself (and them) some time and only approach the options that are capable of covering the legal areas of business and have the experience to back them up.
Becoming a lawyer is a long process that requires a budding attorney to complete many qualifications. Some firms only take on the top candidates from prestigious law schools with all of the expertise ready to go, and other, smaller firms, may compromise a little on this and opt for people with less experience or lower levels of official qualification. It is up to you to determine how much this matters to your company. Sometimes, the smaller firms have as much to offer as the more established ones, but it is always worth a conversation.
If you are to set up a relationship with a law firm, there are going to be associated costs to consider too. Your budget will need to support this contract, so sitting down and figuring out how much money you realistically have to spend on an attorney is essential. This can all be a part of the initial conversation and a law firm will be upfront about what costs you can expect to incur. There will be higher fees to pay if you need specific representation, but general costs tend to be reasonable if it is just regarding day-to-day legal matters that need attending.
It is also essential to think about why you need the law firm and what you want them to do. They will ask this question, and you need an answer to be seen as a viable client. A team of established attorneys is less likely to want to form a professional partnership with you if you don’t have any work for them because it won’t make sense financially to them. So, what do you need? For example, are you facing a personal injury suit from a customer and you require support to help your business survive the ordeal? Or do you need an attorney to control your assets so that they are completely legal and adhere to regulations put forth by the state you trade in? These are big questions, but ones you need to figure out fairly rapidly in order to find the best person for the task ahead.
Choosing legal representation for your business is one of those decisions that deserve energy and research. If you don’t know where to start, think about what you want and go from there. Everything is worth a conversation.