Legal matters are inevitable when it comes to running a business. Whether starting a new venture or expanding an existing one, having a business lawyer by your side is crucial. These legal professionals have the knowledge and experience to navigate the complex world of business laws and regulations, ensuring that your company operates smoothly and stays compliant.
Chances are that your company will need a business law attorney at one or more points in your existence, and your choice is crucial to your present and future. Before hiring a business law attorney, you must understand how to find a lawyer and select the right one.
If you need help from a business law attorney, the time to contact one is now. You will learn how they can help you and partner with your business so you can achieve your goals.
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Learn Your Own Needs to Know Which Type of Lawyer You Need
The first thing that you must do is understand your own legal needs. You may require an attorney to provide you with overall help for your business and be available when you need them. Then, you may be better off with a generalist who can handle multiple areas of business law. In other cases, you may need assistance in a more specific part of the law. Instead of a generalist, you will hire an attorney with extensive experience in a more niche area.
For example, suppose you want to raise capital for your business. In that case, consider hiring a lawyer with experience in structuring debt deals or equity transactions instead of an attorney who helps you more in incorporating a business and preparing documents.
Hiring a business law attorney must be part of a well-thought-out strategy instead of an ad hoc approach. Think about your short and long-term business goals and how a business law attorney may help further them.
Most business lawyers operate outside the courtroom and give tactical advice when needed. Although they will never see the inside of a courtroom, they can provide your company with the crucial legal assistance it needs, such as reviewing documents and negotiating on your behalf. Of course, when needed, some business lawyers can represent you in a controversy or dispute.
Business Law Is a Very Broad Concept
It is important not to think of business law as a single homogenous area where one attorney may have all the experience that you need. You may need several business law attorneys working for your companies because each may have their own skill set. For example, certain business law attorneys can give you strategic and tactical advice during various phases of your corporate existence. Others advise selecting a corporate form or preparing the paperwork to start your business.
Some business law attorneys may guide you during complex transactions that your business executes. For instance, your business may be purchasing another company or subsidiary or exiting and selling it to someone else. You will need a business law attorney to lead the merger and acquisition, a complex area of the law requiring specialized experience due to the number of legal issues involved.
Business lawyers also include litigators because it is unfortunately all too common for businesses to end up in disputes. You may have a disagreement over the terms of a contract or believe that a competitor has broken the law. Business litigation can be intensive and time-consuming, and a business lawyer can represent your interests. They may help resolve the dispute so you can avoid a lawsuit altogether and represent you in mediation as you seek to stay out of court.
How to Find a Business Law Lawyer
You must find the right attorney for your particular issue, and it is essential to understand what they do and their areas of specialty. Not every business law attorney is the same because each may handle different areas. You do not want to hire a transactional attorney with no litigation experience if you have a dispute that will end up in court.
The internet and legal directories are essential in finding a business law attorney. Since you are looking for an attorney in a more niche area of the law, you may need help to get recommendations from those close to you. You may be part of a professional association that works with attorneys or have other business contacts who can recommend someone to you. Those who have worked with an attorney know their strengths, the level of service they provide, and how they have helped.
Many potential clients will find an attorney through a Google search. Make sure you use the terms that relate to the specific area of the law where you need the business attorney’s help. Even the term “business law attorney” may yield helpful search results. Then, you need to drill down on the attorney’s particular area of experience to see if they can help where you need them.
You can also look on general legal directories to find business law attorneys who practice in both the geographic and practice areas that you need. These legal directories can give you specific areas of business law that the attorney practices. You can get multiple names of attorneys you may seek to hire and their contact information.
Reading objective online reviews is helpful to learn more about a lawyer and a client’s experience working with them. There may be many online reviews if you are working with a small or mid-size law firm. Try to read sources like Google or Yelp because these contain reviews from actual clients who have worked with the lawyer instead of recommendations from fellow attorneys who want to help a colleague.
Before you hire a business law attorney, you should speak with them in an initial consultation. You may not even know your needs or the legal landscape, but you can learn about it when you talk to a business law attorney, and many times, they will offer a free consultation.
Questions to Ask a Business Law Attorney
When you do speak with a business attorney, you should learn more about what they do and their specific experience. Come with a list of questions ahead of time, which can include:
- What type of clients do you generally work with? Some attorneys may have additional experience working with startups or companies in a particular business area, such as technology or construction companies.
- What practice areas do you handle? An attorney may handle several practice areas. Some may be generalists, handling areas such as personal injury, criminal law, and business law. You want to hire an attorney who has specific experience in the areas for which you need them. For example, if your transaction is a merger, you should hire a business law attorney who has advised in prior deals.
- How much do you charge for your time? A business law attorney must sign a representation agreement with you when you hire them, laying out all costs and fees. They will likely ask for a retainer since they are usually paid on an hourly basis (although some attorneys may charge you a flat fee for specific tasks) as opposed to working for a contingency fee.
- Who will handle my case? Multiple attorneys may be working on your case. The partner you initially spoke with may not handle your case daily. You do not want to hire one attorney for your case only to learn that they will not be the one mainly working for you.
- How will you communicate with me? It is crucial that you hear from your attorney when you need help or attention. A business law attorney needs to be responsive and communicative when you need them.
What a Business Law Attorney Does for You
A business law attorney works with you every step of the way when starting or running a business and can partner with you to deliver pragmatic and thoughtful solutions to help your company. They get to know you immediately to understand your goals and needs and can provide a knowledge of the law in areas with which you may not be familiar.
A business law attorney can perform the following functions for you:
- Prepare necessary filings and paperwork when you are beginning or running your business
- Ensure your company stays one step when it comes to compliance by advising on the law and reviewing your operations
- Provide you with strategic advice when your business wants to engage in transactions
- Create a potential exit strategy when you want to monetize your business and cash out
- Negotiate, draft, and review any contracts to which your business is a party
- Represent and advise you when your business is in any disagreement or dispute (communicating on your behalf with the other party’s attorney)
- Plan for tax considerations that can minimize the amount of taxes that you need to pay
- Plan for business succession issues when you want to pay the company down to someone in the family
- Act as your outsourced general counsel if you do not have the budget to hire an employee of your own
Why You Need to Find the Business Law Lawyer for Your Company
You do what you do best: Use your talents and skills to build a company that will make money. Legal issues may be out of your depth and will take away valuable time. Your business law attorney can handle the details of the representation, making your life easier and providing value for your company.
Businesses often need to anticipate legal issues that they may face in the future. Although planning for every problem beforehand is impossible, you can prepare for some known future challenges. A business law attorney can describe future legal issues and develop a strategy to prepare for them. If something unanticipated arises, time is of the essence when dealing with it.
A business law attorney can also ensure you prepare yourself for what may come in the future.
Further, the relationship between you and your attorney is critical. You need to find a business lawyer you trust to remain with you for an extended period as you grow your business and continue to be profitable.
Protecting Your Assets When You Have a Business
One of your primary concerns when running a business is whether your assets are at risk. If someone sues you and you lose, you may be liable for damages. You must first choose the proper corporate structure to shelter your assets, such as a limited liability corporation. In addition, there is a chance that a plaintiff can pierce the corporate veil based on your involvement with the business and decision-making.
A business law attorney can ensure you structure your business to provide you with the maximum possible protection. This structuring can occur through the business form you choose or your actions once you start your business. The stakes of starting a business can be far higher than you know, and you can lose more than just your initial investment in the business if you are not careful.
Contact a Business Law Attorney Today
No matter the size or industry of your business, consulting with a business lawyer can give you a competitive edge. They are your trusted advisors, providing insights and recommendations from their years of experience and knowledge of the law. They also have an eye for detail and can identify potential pitfalls or loopholes that can impact your business in the long run. By partnering with a reputable business lawyer, you can make informed decisions to protect your business and position it for long-term success.
In the ever-changing landscape of business laws and regulations, having a business lawyer is not just a luxury but a necessity. They bring experience, guidance, and peace of mind to business owners, protecting their legal rights and obligations. So, if you are looking for the best business lawyer near you, do not hesitate to contact a knowledgeable professional. They will provide top-notch legal services to meet your business's unique needs. Call them today and take the first step toward securing your business's future.