Sound legal advice is essential for building a successful business. Whether you’re an established firm or you’re just starting your small business journey, you need to be able to get good advice from a business lawyer or from free business and legal resources online.
Research has shown that business owners who use good legal services to obtain professional advice are much more likely to succeed because they are reducing the chances of incurring unnecessary future legal issues.
Legal decisions relating to a new business need to be made from the start. For instance, you need to decide the business structure for the firm. Defining the business structure is the foundation for all future work and policies of the business. This also affects future tax payable by the business and the extent of any personal liability you might incur in a possible future lawsuit. Therefore, the first decision to make is about registering the business, such as a:
To put yourself on the path to success, ensure you have the right lawyer or services at your side. Here’s a list of some of the things you should consider when you start looking for legal services for your business.
Most business lawyers handle things like contract writing, business information and more. However, in many fields of law, attorneys tend to specialize in certain fields. For example, you may find a lawyer handling:
When it comes to choosing a legal service, the first thing to do is find one that can handle your current and possible future needs. For example, if you’re looking for help on hiring employees, you’ll need a different type of counseling than if you’re planning to lease a new office. Larger law firms can offer a wider range of legal services, but their fees usually higher.
When looking for a good legal service, a great place to start is to ask your network of contacts for recommendations. They will be able to give you their honest opinion on the legal services they’ve used in the past. They will be able to tell you if these were reliable, if they had good customer service, whether they were expensive to use and if they would use them again in the future.
Once you’ve got an idea of the type of legal service you require and you’ve obtained some recommendations from your contacts, make a list of potential candidates. Then go to their websites to gain an initial understanding of their services and any fields of specialization.
Incfile and LegalZoom are two brilliant online business information websites. Both sites offer reliable business formation services at a tiny proportion of the cost of hiring an attorney for your business. The main difference between Incfile and Legalzoom is that IncFile specializes in simple, fast, and affordable business formation and compliance help, while LegalZoom offers complete legal solutions. LegalZoom will not only help you to launch your business, but it will also help you to remain compliant and offers a range of attorney level services such as contracts, family law, intellectual property, and legal planning. If you’re looking for a good legal service for your business, then consider trying one of these options.
The next step is to meet with, or at least talk to the legal services on your list before choosing one to hire. Before attending a meeting, it’s a good idea to make a list of the key qualities and attributes that you require. For example, you may require a legal advisor to give you up-to-date information on business regulations. Also, when you contact several law firms, you are likely to learn further questions you should ask.
You also need to provide background about your business to a law firm’s representative/s, including details of your perceived need for legal services, and whether their services would be required on a continuing basis or just for a single project.
During the meeting you should ask them a range of questions. This will help you to ensure that you choose the right legal service for you. Here are some of the questions you should consider asking during a meeting with a potential lawyer:
At your first meeting with the law firm, or early in their appointment, you need to address the question of their costs. Matters to resolve include:
Almost all businesses require legal advice at some point, even before they begin trading. For example, advice may be needed if you intend to employ new staff, or if you’re taking over an already established business. Obtaining legal advice can be crucial to the success of your business.
Many business owners find it difficult to find a legal service they can trust and rely on. However, by following the advice in this article about how to hire the right lawyer for your business, you can feel confident you’re putting the future of your business in good hands.
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