In today’s complex business environment, having sound legal advice can help ensure long-term success for your business. This is especially true if you are a new business owner or going through structural or ownership changes.
If you are looking to employ legal counsel for your business, an important step is finding the right business attorney. This is an important process as he or she will be a key partner and guide you in certain business decisions.
Three Common Questions Business Owners Ask
During this process, business owners typically ask several questions as they want to do their due diligence and make the right decision. Here are three common questions business owners ask when searching for a business attorney.
Is the lawyer doing the work? Or is it a law student or paralegal?
While business attorneys may have a law student or paralegal conduct research or other forms of assistance, it is a violation of the rules of ethics for a non-attorney to provide legal advice to a client. The best way to get the assurance of who will be doing the work on behalf of your business is to specify that in an engagement letter with the law firm.
Are there any low-cost fee structures that lawyers can provide small businesses?
Most business attorneys keep track of their time and bill clients by the hour. Occasionally, a firm will contract to be available for a certain number of hours at a set monthly fee that may be discounted from the standard hourly rate. Ultimately, firms are business in themselves too. Whether they are open to different fee structures will be an indication of your future working relationship.
Are there certain legal topics business owners should figure out on their own without spending money on an attorney?
This can vary depending on your business and the industry it operates within. There are several business requirements that cross all industries, but there are some that are particular to each individual business. Obtaining local business licenses is a good example of this.
Even if you find an attorney who specializes in your industry and knows the requirements for your business to stay in compliance, it’s important that you, as the business owner, also know those details. You may need or want a business attorney’s advice the first time you go through any legal process, but then you may be able to manage it yourself in the future.
Find the Right Attorney for Your Business
As a business owner, it is recommended that you seek the counsel from an attorney to ensure your business meets all requirements and stays in compliance. To accomplish this, it is important to do your due diligence and find the right business attorney who will be your trusted partner.
If you are seeking legal advice for your business, consider the services of Herr & Low, P.C. Our business attorneys have years of experience working with and advising business owners on legal matters. Contact us today to learn more about our services.