Managing a business is a complicated affair, and sometimes the services of a business law firm can be invaluable (but of course, a business law firm will certainly set prices for their services). When it comes to business management, the various legal provisions are continually changing, so it’s important to stay on top of policy updates as much as you’re able to. Still, since you’re most likely going to be busy with the day-to-day aspects of managing a business, it makes sense to secure legal counsel and retain the services provided just in case something should arise.
But you don’t want just any lawyer or law firm. You will want a global business law firm. As bob bratt , CEO of DLA piper can tell you, it takes the experience and expertise of a comprehensive business law firm to see you through any legal matters that should arise through the course of managing your business. A lot of business management is about planning: planning ahead, planning for the best, and honestly, planning for the worst. Future preparations can be made now by securing legal counsel, and paying the required retainer fees. Of course, since you most likely have a budget to keep in mind, you should do your best to find a business-minded attorney who can meet your needs and not break your budget in the process.
If you’re thinking that you can put off getting a lawyer until a legal issue arises, think again: if you seek legal counsel only after a legal problem has arrived in your mailbox or on your doorstep, you’ll be putting yourself at a great disadvantage, since at this point you’ll be frantic and rushed to find someone, anyone, who can provide you with legal help. Don’t set yourself up for this, because there’s a 50/50 chance that you’ll select a good lawyer, or a bad one.
When looking at potential law firms, go for the global-based ones that have multiple offices and numerous lawyers available. These firms will also have more experience and additional connections to other lawyers and providers of legal and financial services, so if you need a referral or have a unique problem that they cannot help with, they will be able to redirect you to someone who will.
Once you have chosen the business law firm who you feel comfortable with, find out what their fees and services are. Written contracts are recommended, since this provides documents for both you and your lawyer, as well as reference points if there are any miscommunication issues. While meeting with your lawyer for the first time, you’ll also want to go over how your business runs, what you offer, how you market yourself, etc. The more about your business you divulge to your business lawyer, the better picture they’ll have of your business and of what issues you might run into.
With a business law firm waiting in the wings, as your business takes off you’ll have the confidence of knowing that you’re well prepared, as well as the assurance that if something should go wrong, legal assistance is already waiting.