According to conventional knowledge (and many attorneys), if you’re a manager or owner of a business, you’ll get into problems if you don’t have a good business lawyer. But when I hear this, I think of it as a criticism, which frankly irritates me. Smart business people, I assume, don’t want to be made to feel foolish or warned that they won’t be able to avoid hazards if they don’t hire a lawyer.
Another way to put it is that I detest making any effort to get away from anything. I greatly like to make decisions that let me advance toward the benefits I believe my actions will bring about. I thus address my clients in that manner.
In light of this, I will reword the main advantage of working with a skilled Rechtsanwalt Wels as follows: you will earn more money. Therefore, you should think of a business lawyer as your partner who will assist you in making decisions that will enhance your company and increase your bottom line.
How can you pick an excellent business lawyer if you need a lawyer or if you’re not satisfied with the one you now have? First, though, a definition A business lawyer is what? A business lawyer, in my opinion, differs from a corporate or commercial lawyer. To me, a business lawyer in the traditional sense of the term refers to a lawyer-client relationship where the lawyer serves a greater purpose than merely producing legal documents. I think of a business lawyer as being almost like a confidante or business partner. Someone in whom you can confide, who can help you solve your difficulties and progress.
Here are my TOP 10 SUGGESTIONS for finding a GREAT BUSINESS ATTORNEY, listed in no particular order of significance.
- Resist the urge to choose a huge, reputable company. I’m from a number of prestigious, top-tier law firms. They practise excellent law, and occasionally you need the “name” or “brand” of the large firm next to you, such as when you’re going public. However, you don’t require such a company for more ordinary job. They are pricey and have several layers. You will therefore have to pay up to $1,000 per hour or more to deal with the top dog. If your budget is only one-fourth of this, you will primarily work with a junior associate who lacks the necessary business background. It actually depends on your needs and your financial situation.
- Don’t just concentrate on the hourly rate. Don’t base your choice solely on price if you’re torn between hiring someone who will cost you $250 per hour or $350 per hour. It matters how much the ultimate bill will be and who will have received value, in that order. A red herring is the hourly rate. What good is it to ask someone to work for you for $250 an hour if they need 40 hours to complete the task when the other lawyer who charges $350 an hour only needs 20? especially if the other attorney can represent you more effectively. The topic of billing policy is too complex and nuanced to be covered in a few sentences. Simply said, I’m trying to make the point that the hourly rate isn’t everything.
- Seek out a companion with whom you would like sharing a drink. You must establish a personal connection with your company lawyer if you want your working relationship with them to be effective. You should consider your lawyer to be a sort of friend because it will be to your benefit. There must be personal chemistry for this to occur.
- Examine previous business experience. It is cliché to say that having business experience is a requirement if your business lawyer is going to assist you on your business. Once more, it comes down to the distinction between working with a junior associate fresh out of college and a person with actual, relevant business experience.
- Seek out a person who is amenable to a fixed cost arrangement. Nobody I know wishes to get legal counsel without knowing what the whole cost will be. A lawyer may be receptive to a flexible or fixed fee agreement, despite the fact that it is frequently impossible for them to estimate. Additionally, he or she need to be able to provide you at least a general notion of the costs.
- Seek a deal-maker rather than a deal-breaker. Numerous factors could prevent a business transaction from succeeding or render the agreement invalid. You don’t want a lawyer who adds further barriers to the transaction. It adopts a sensible strategy. It’s all about business risk, therefore instead of objecting to the deal, your attorney should weigh the advantages and disadvantages and offer recommendations.
- Visualize your business lawyer as a part-time vice president of legal. Some corporate attorneys are receptive to retainer contracts that would allow them to serve as your part-time VP of legal affairs at a lesser cost than employing a law firm. For example, a lawyer might offer to work for you on a set number of days each month. With a skilled person on the inside who gets to know your company inside and out, it could save you money and aid in business growth.
- Look for someone with solid professional ties. In our environment, having a strong business network is frequently necessary to get things done. It is quite helpful to have access to information through your attorney.
- Locate a sociable person. Your attorney must not incite resentment among those around him or her if you want him or her to accomplish your goals (her). Making something work may depend on having a person who gets along well with others.
- Keep the end in mind. The expense of attorneys should not, in my opinion, be your first consideration. What you should consider is whether you can earn $2,000 by hiring a lawyer for, say, $1,000. If so, the attorney’s fees are not a cost. He or she is one of the co-generators of a 100% rate of return. If you approach it that way and your attorney succeeds, the expense won’t be as difficult to swallow.