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Hiring an attorney for your small business is an important process. The best lawyer will depend on the legal needs of your small organization. When setting up a small business, you will need a lawyer to guide you through the legal form of business-negotiating contracts with customers or suppliers. The attorney also guides you through filing tax, protecting intellectual property, or settling litigation. Failing to consult a lawyer will cost you money when you experience problems later. Here are four tips to hiring an attorney for your small business planning.
- Billing. Understand how the attorney bills you. Some will bill you hourly, some by the day which is called per diem, and others on a monthly basis. An attorney may also charge you a flat fee for standard jobs like contract review. No matter the billing method, ask your lawyer questions to make sure you understand the details. For instance, if the lawyer has an assistant, will you pay for their work at the attorney’s rate? Ask about any extra charges such as faxing and making copies.
- Use Time Wisely. As the phrase goes “time is money,” an attorney is always busy. Before meeting with or talking to your attorney, plan ahead to keep the time as brief as possible. Make a list of all the questions and things you need to discuss so you do not forget anything. Focus on what you need to do.
- Keep it Simple. The less work, your attorney has to do; the less he will bill you. Provide the lawyer with documents that he/she will need to review before the meeting. Have all your information in order. Always send 1 email rather than 10 short ones with question after question. Like any other businessperson, lawyers appreciate when you make their work simpler.
- Review your legal bills. If you have a complicated project with an attorney, ask for an itemized statement. Go over the bill in detail to make sure you understand what you are being billed for, and that you were not overcharged.
- Be Proactive. Some people fear to talk to their lawyers for fear of incurring a fee. As a result, they let small problems spin out of control. Make sure you communicate with your attorney every month to bring up any issues of concern. With regular communication with your lawyer, you can nip problems in the bud and take advantage of the opportunities for growth when they arise.
You need to interview more than one attorney to find someone who knows not only small business law but also your industry. Ask questions about experience with specific legal issues you are facing. For instance, Denver Attorneys, Phillips & Blow provide a guide to estate planning for small business. Therefore, if you are in the real estate business, they are the people to call. If you are in another line of business, you need to look for another firm to handle your legal matters.