Hiring a corporate law attorney can be expensive. It is important to know how much they will cost before you hire one for your corporation, LLC, or partnership. You also need to know that this isn’t like hiring an individual lawyer; the work they do is more complicated and time-consuming. A single mistake could end up costing you thousands of dollars in court fees and wages due to missteps on paperwork, so it’s best if you choose your corporate lawyer carefully. Here are some steps that will help you decide which corporate law firm is right for you:
1) Decide if you want a solo practitioner or a larger firm. Some small business owners prefer using solo lawyers because they think it will save them money, but these individuals may not have enough experience or a large enough staff to answer your questions in a timely fashion. Larger corporations have the financial means to hire more people, so they can do research and figure out solutions for you faster.
2) Determine how much work your company needs to be done by the corporate attorney. Some law firms charge by the hour, while others charge a flat fee that includes everything from legal advice to filing fees. Lawyers who charge hourly rates will need more time on their end, but it might be worth it if they’re knowledgeable about what your company needs to be done and can save you money in court fees or errors made by an inexperienced lawyer. Flat-rate lawyers may give you some good advice, but it’s important to have a clear understanding of all the charges involved before you go into business with someone.
Hiring a lawyer should be an investment, not a way to spend your money frivolously. You should come up with a budget that includes the legal fees and research time needed for contracts, partnerships, or building your company from the ground up.
3) Decide what is most important to your corporation when hiring an attorney. Is it their credentials? Their expertise? Their availability? Finding out answers to these questions will help narrow down your choices of lawyers who are interested in working with you. Before you call them, make sure you Google their name or check out their website to see what they’re all about. If they don’t have one, then move on!
Once you’ve narrowed down your search for a corporate law attorney, try calling different law firms to see if they can help you. It’s important that your lawyer speaks the same language as you when it comes to an understanding of what needs to be done and why it’s important. One way to determine this is by asking about their educational background and work history in the field. While some lawyers don’t have a formal college education, many have many years of experience writing contracts or dealing with other legal issues.
4) Find out how much experience the caseworkers have working on similar cases to yours. If you want an expert who knows everything there is to know about a particular subject; then a young lawyer may not be able to help you get the results that you need from your contract negotiations or partnership agreements.
In conclusion, the best way to choose a law firm is by finding one that you trust. Shop around and ask questions about their performance on similar cases to yours while keeping in mind the budget you’ve set up. If they don’t know the answers, then move on! You will end up saving time and money in the long run by hiring someone who knows what they are doing.
