1)
Start With a Recommendation
When you open up
your business you’ll be entering into a community of your peers - other
business owners who have been through your situation. These fellow owners can
are great resources for solving any challenges that you might face. This
network can answer any business related questions that you might have. Start by
asking about the law firm they use. Getting recommendations from business
owners is the best way to start researching the law firm that will be perfect for
your needs. Keep in mind that just because someone recommends a law firm
doesn’t mean you have to hire that firm. You’re just asking for names.
2)
Write Out Your Vision
You might have
created some sort of business plan for your investors, but your vision of where
you want your business to go is something less formal. This is a document that
you can use to strategize with an attorney. This vision can help you choose the
right law firm based on that firm’s experience. For instance, you might want to
franchise your business so you should be looking for a lawyer with expertise in
that field. The same holds true for expanding your business globally. Does the
law firm have offices in other cities or countries?
3)
Research
Just as your
business will need a website, every prospective law firm you’re looking into
will have their own internet presence as well. This will be your first
impression of the law firm and can tell you a lot about how they handle their
business. Once you enter into discussions about retaining the services of a law
firm you’ll be given the opportunity to follow-up with their references. Make
those calls.
4)
Factor In the Costs
Billing
practices vary from one lawyer to another. Many new business owners have gotten
quite a shock from their first legal bill when they are charged for a quick
phone call or email response. Remember that lawyers make their living through
billable hours. When you develop a strong relationship with a law firm the “nit-picking” of hours charged might not
become such a big issue. However, you should be aware of all the fees up front
and what a lawyer expects to bill you for. Additionally, all these fees should
be in writing.
Even if you are a freelancer or a home
business, there will be a situation where you will need to use the services of
a corporate lawyer. This could range from needing legal advice, or it could be to
draft up contracts and agreements. Either way, it's always a good idea to
retain the services of a corporate lawyer in case any unexpected situations
come up.
