In the flurry of establishing a brand-new business, one aspect gets left behind quite frequently. That is acquiring the services of a corporate lawyer. Viewed as just another expense to add to the books, it’s easy to understand why that happens.
The truth is that a lawyer can save money for a business in the long run, especially in cases where the company is being sued by a client. It is important to point this out, because at the time when a law suit is filed, it is almost too late to appoint a lawyer.
On the other hand, law suits could be avoided altogether with a lawyer on board. Should a lawsuit happen, however, the company with a lawyer is in a much better position to come out the other side triumphantly than the company without a lawyer.
It is evident that a business lawyer can do more good than harm. Should there still be some reservations based purely on the assumption that enlisting the services of a business lawyer is costly, consider the following: an assumption is just that; something that is accepted as true, without proof. Shop around and negotiate terms and a business lawyer that does not upset the business’s budget is sure to be found.
Keep in mind that only a qualified lawyer can provide expert knowledge on legal matters – it can’t be gained elsewhere. Thus, if money is still an issue, only consult with a lawyer at first, then contract them when there is an exact understanding of the services needed.
The areas in which a business lawyer can assist a business owner which includes, but is not limited to:
- Business transactions
- Business processes
- Real estate matters
- Taxes and licences
- Intellectual property issues
A quick note here is that is advisable to appoint a lawyer that has knowledge and experience specific to corporate matters. Much like a heart surgeon will be consulted with regards to a heart transplant, as opposed to a general practitioner, the lawyer that has specialised in corporate law would serve a company best. Only such a lawyer would be able to explain the intricacies of zoning compliance, trademark and copyright laws, costs law and other issues that a company is likely to deal with.
How to choose the best lawyer for the business
The lawyer chosen will become an extended part of the business and someone that is dealt with on a regular basis, be it via email, phone or face-to-face. Above all other factors, it is thus important for the business and the lawyer to get along. There doesn’t need to be agreement on all matters, business related or otherwise, but there should be some shared values, beliefs and interests.
Secondly, it is preferable for the lawyer to be in the same city or town as the business. This facilitates regular meets more easily, which are definitely required on a regular basis. Being able to meet up becomes even more important in the event of a law suit being filed.
Further to these key considerations, the suitability of a lawyer can be determined by asking a handful of pertinent questions. The answers will help decide whether the lawyer has the skills, communication style and approach to their work that suits the business. As mentioned before, one can definitely shop around for a lawyer. Remember that this person has an important job – protecting your business, so it is imperative to appoint the right person.