5 Criteria to Use to Find a Business Attorney near Me
Finding a suitable attorney for your business can seem like a daunting process with little legal knowledge. It actually is not that difficult and is more or less like hiring a new employee in your firm.
Now that you have decided to gird up your business, here are a couple of steps to help streamline the process of hiring the attorney that is right for your business:
Determine why you want a lawyer in the first place
The circumstances that can drive a business owner to acquire a business lawyer vary from Easler Law. Some may include:
- Picking the right business entity to go with: different entities come with diverse investment, tax, and financial benefits.
- Fundraising and capital raising: when you need to acquire capital via venture capital or selling business equity to investors, an attorney will help you make term sheets and other legal agreements.
- Employment issues: attorneys will help you draft terms of agreement and ensure your compliance with relevant labor laws.
Outsource lawyers in your network
Hiring an attorney for your business is pretty much like the rest of the hiring process, and to find the best one, you can begin by looking at professional recommendations in your circle. If you have other business friends or family, ask them which attorneys they used.
You can also use online legal directories to help you locate an attorney near you. Be sure to also make follow-up checks to ensure the credibility of the lawyer and their licencing by relevant authorities.
Choose the right lawyer from your candidates
Once you have a catalogue of attorneys you are considering for the position, you need to interview them to know who is best suited for the position. Some questions to help you know if they are the best-fit include:
- Do you have any experience in working with small businesses?
- Are you going to be working alone on my business issues or with a team?
- What mode of communication will we be using?
Negotiate a fee structure
Once you have chosen or shortlisted the attorney you would love to work with the most, you will then agree on a favorable amount and mode of payment. Some common fee structures include:
- Flat fee: this means that the attorney charges a general fee as compared to a per-hour rate.
- Contingent fee: this means that you make payments after a case has been won. This is especially where attorneys are litigating and there is monetary compensation being retrieved.
- Equity: some lawyers may work at no cost to earn a portion of the business equity.
Step 5: Know When to Skip a Small Business Lawyer to Save Money
Sometimes, you may overestimate the need for a lawyer. Here are some things that you can do by yourself without the need of a lawyer:
- Drafting a business plan and getting a name and a domain for your business
- Filing business set up papers or applying for a loan
- Getting a business licence
- Filing returns and balancing your finances
Hiring a business attorney is an excellent choice and the best time to do so is before you think you need one. It will help your business with legal compliance and getting the most out of legal advantages in business systems.