What to Look for in a Good Business Lawyer
If you have just started into a business or entered into a partnership with another entrepreneur, the chances are high that you have a significant amount of questions. Some answers can be found through generic online sources and word of mouth. However, others might require the expertise of a trained professional. This is why securing the services of a business solicitor is often a wise choice. What are some variables to take into account during the search process and how can you be assured that you have made the correct decision? Let us examine this process in more detail in order to obtain the necessary clarity.
Specific as Opposed to General Expertise
Try to avoiding hiring a “one-size-fits-all” lawyer. While this might represent the more cost-effective option, he or she will often not possess the experience to deal with specific issues. For example, obtaining the services of a generic law firm will normally cause issues when dealing with complicated variables such as how to incorporate a business abroad or what to know when dealing with the regulations of the Malta Gaming Authority.
Still, some firms offer a host of solicitors which specialise in individual areas. It is a good idea to speak with a representative in order to determine if the scope of your business operations fit into their legal model. There is nothing wrong with sorting through dozens of organisations before you finally encounter one which addresses your requirements. Always remember that the relationship between a business and a solicitor should provide long-term benefits for all parties involved, so a bit of research is extremely prudent.
Taking Personal Rapport Into Account
Psychology plays a surprising role when choosing a business lawyer. Trust is arguably the most paramount issue to address, as you need to feel comfortable divulging potentially sensitive information (such as profit/loss margins and upcoming marketing campaigns) to a third party. While solicitors are normally bound to strict confidentiality rules, these will serve little purpose if you do not inherently trust the character of the solicitor in question. Try to answer these basic questions when coming to a decision:
- Do I feel that this lawyer is truly interested in the needs of my business?
- Does he/she exhibit an in-depth knowledge of business law?
- Can I develop a long-term relationship without feeling that I am placed under any unnecessary obligations?
- Am I confident in the claims made by the firm in question?
Interpersonal rapport should then be combined with testimonials from past and present clients. What have other customers had to say about their experiences with the firm? Is the lawyer openly willing to provide you with such feedback? It could also be a good idea to check online for these reviews, as objective opinions will help you make an unbiased decision. Hiring a business lawyer is an important step to take down to the road to success, so preparation and insight will go a long way.