In one way or another, you are going to need legal representation for your business. A lawyer is someone who can be a luxurious line item or a significant asset for your company. As a business owner, it is really up to you to make the decision.
If you have not thought about hiring a business lawyer before, the process can definitely be intimidating. But as long as you know what exactly you are looking for, there is always the possibility of getting positive results from your lawyer.
To help you ensure this happens, here are some keys to hiring the right legal representation for your business.
1. Understand when you are going to need a lawyer
This is really going to vary from one client to another. In general, the sooner you are able to establish this essential relationship, the better it is for your company. More importantly, you will immediately be getting legal advice every now and then, which could help you propel your business your greater heights.
Keep in mind, though, that legal advice is not free. That is why you need to determine when your business is going to need a lawyer. A general rule of thumb is to always hire one way before you could get yourself into legal trouble. In other words, you need to have a lawyer for your business as soon as possible.
2. Focus on the type of lawyer you need
Most business lawyers are expected to handle different formation needs. This could the creation of a corporation or putting a partnership agreement together. In other words, you would need a certain type of lawyer that could help you with your specific business needs.
It is worth noting that a business lawyer is not like a criminal lawyer. The latter is more on the specialization of defending individuals charged with criminal activity. So even if you have one, you might still need a lawyer specializing in the field of business or industry you are in. For instance, you are in need of a trademark. You simply need someone who is focused on this certain area.
3. Find a lawyer who understands your niche or market
Yes, it is given that you need a general business lawyer. But if he has no clue about the industry you are in or the market you are trying to dominate, then he is going to be useless sooner or later. You will be facing communication challenges, as you try to let him know about your needs.
However, remember that you do not necessarily need a lawyer who specializes in the area you are in. You want to have a legal representative that is more than willing to know and understand the ins and outs of your industry. After all, you want his insights to be factored into your very own legal strategies. Now imagine trying to accomplish this feat and your lawyer does not speak the same business language. It will certainly be a catastrophe!
4. Go for a law firm of the right size
There are different advantages and disadvantages to small firms, big firms, and solo practitioners. If your business grows to be a giant company like Amazon or Facebook, you will obviously need the expertise of a large law firm. And, obviously, at some point, you will have to come up with your own in-house legal department.
But if you are just starting out and budget is not really a luxury, you might benefit from small firms or solo practitioners. Size does not really matter here, as your main goal is to have a lawyer who can legally represent you and your company accordingly. Understand what your business needs are and decide the size of the law firm you need.
