Qualities to Look For When Hiring a Business Lawyer
When doing business, an individual needs to be prepared for anything. A business person is from time to time faced with legal, financial and commercial related matters that they cannot deal with on their own due to their complexities. They are better off tackling these matters with legal experts to avoid making errors that could risk them losing a lot. These individuals are business advocates.
Business lawyers are critical for companies because of their ability to give great advice on legal matters based on knowledge on the law. They have great negotiation skills to go around issues, even tricky ones. Here are the attributes to look into when choosing a good business lawyer:
You should not engage the big law firms only. Lawyers in big firms charge higher fees than regular firms because they are experts in law and give quality work. They are not convenient options for routine tasks if you don’t have a big budget. But, they are good choices for instances when you need their big name next to you like when you go public.
Find someone whom you can have a drink with. The relationship with your lawyer will require a personal connection with them to succeed. It is also advantageous to you when they feel like they are part of your life.
Make sure that you hire a person with business experience. This is important for you because for them to give you good advice they must know about what they are telling you. Associates straight from school do not have the practical experience yet.
Think of your lawyer as a part-time VP legal. Some attorneys do not have a problem being retained at a fee. Having this type of arrangement can save your business a lot of money as you grow the business with a smart adviser who knows your business well and gives you the best advice always.
Look for someone interested in making partnerships, rather than dismissing them. Many business deals always have an element that makes them less suitable. You will need a lawyer who gives you the pros and cons of a deal and appropriate advice towards risks instead of blocking the deal altogether.
Choose someone with good business connections. It is an added advantage when your operations are made easier by the connection your lawyer has in the business world.
Go for a people person. This is important because they are able to influence other people. Warm personalities are more appreciated than cold personalities that antagonize other people.
Look at the bigger picture. When a lawyer is successful at growing your business more beyond their charges, then working with them is validated.
Do not pay attention to the hours when it comes to billing. Some lawyers charge less for extended hours while others charge more and quote shorter hours to get a job done. What you need to do is focus on the value you will get from the transaction. However, work with an attorney who is open to a flexible or fixed fee arrangement.