If you are a business owner, then sooner or later, you need a legal representative for your business. It can be a valuable asset for your business or just an expensive line item. So, it is up to you whether you want one or not. The process of hiring a lawyer first time can be intimidating for you. As a business lawyer in Toronto, I have seen the hiring process many times. In this article, I will share a list of tips you need to choose the right lawyer for your Business:
When You Need A Lawyer
The first thing you need to know is when you need the help of a lawyer. Also, you need to have a good relationship with him or her. That is why; it is important to build a good relationship and start getting advice. A good legal advice does not come free. If your business is just starting, then you need to meet the lawyers and ask for their rates. After your business formation, you can hire a lawyer in your budget. It is also important to hire one before starting your business. For example, if you are forming a partnership, then you need the help of a lawyer to protect your rights.
The Type of Lawyer
The second thing to keep in mind is the type of lawyer. Most of the business attorneys can help you in forming business which can include LLC or corporations. They can help you with drafting business contracts and partnership agreement. If you need help with trademark and tax law, then hire someone who has some experience in these areas. If you need a long-term counsel, then hire someone who can put you in touch with other specialists when you need it. Hiring a business lawyer like Hoffer Adler is like finding a doctor that you can go for checkups.
Hire a Lawyer Who Understands Your Niche or Market
The lawyer needs to understand your market or niche. If an attorney does not have any idea about your product or industry, then how he or she going to help you. Moreover, it is not important to hire one that works in the same industry and also not important that the attorney is willing to understand and learn about your company. You just need someone who knows the rules and regulations that apply to your industry.
Law Firm of Right Size
You can also pick a law firm but some pros and cons are working with solo, big firms, small firms. If your business is a bug like Amazon, Google or Tesla, then you need to work with a large law firm. Well, you can even make your in-house legal department. However, this is not the case with small businesses and startups. Because large law firms have big clients and they usually not responsive to every client. However, there are some advantages to working with big law firms.
