A business lawyer is someone who can guide a businessman on all the legalities associated with the business. Whether it is a start-up or a Fortune 500 company, all businesses need a legal expert.
Many a time, businessmen are put off by the high fees of lawyers and try to avoid hiring one. However, not having legal counsel can prove to be an expensive mistake! This is because the US has several laws and clauses associated with running businesses of different sizes. Laws also keep changing from time to time. Also, the Government has heavy penalties for people who do not adhere to the laws.
In most states in the US, numerous lawyers can advise you! But make sure that you choose the best business lawyer for your business. The services you need from a lawyer for your business need to be customized according to your business.
Here is a checklist of what you need to find out before engaging a business lawyer?
1. Is he Licensed to Practice in your State?
The laws in different states in the US have variations. Your business will need to adhere to the business laws of the state where your enterprise is located. Hence, make sure that the attorney you hire is familiar with the laws of your state and licensed to practice in the state.
2. Does he Understand your Business?
It is beneficial to hire an attorney who understands the nuances of your business. He does not have to be an expert in your niche but must have an idea about it. This will help resolve many communication challenges that might crop up.
3. What Services do you Need?
The services required from a business lawyer depend largely on the nature of business and the activities involved. Therefore, it is important to identify the specific needs of your business while hiring a business lawyer.
4. A Solo Lawyer or a Law Firm?
Both have their pros and cons. However, it is better to engage a law firm that has several specialist lawyers. This is because your business can get the support of expert lawyers for different aspects of your business. For instance, a law firm will have tax lawyers, contract lawyers, etc. in addition to business lawyers. Therefore you can get all the legal support under one roof.
5. How Much does he Charge?
Although it is recommended that you hire a lawyer right from the time you start your business, the expense involved in hiring a law firm cannot be ignored. Hiring lawyers at the initial stages might add to the overall business expenses. it is best to budget for the cost of hiring an attorney when you are budgeting for your business expenses. It is recommended that you hire an attorney right from the initial stages. Therefore, you must find out the fees of the lawyer before hiring one.
One of the best law firms in New York is Ward K Johnson Law Firm! We have experienced business lawyers who can help with all legal aspects of setting up your business.