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Why do I Need to Hire a Business Law Attorney?

Joseph Franks
Why do I Need to Hire a Business Law Attorney?

Given the wide range of issues that demand the services of a lawyer nowadays, it is no surprise that one needs an attorney that specializes in solving their particular problem. A law school degree and professional license to practice is not sufficient to accommodate every case. For instance, there are lawyers who specialize in divorce matters and those whose expertise lies in criminal defense; neither of these two would be appropriate for advising you on how to manage a business.

Whether you own a small family business or a big franchised corporation, working with a business law attorney is necessary. It is better to consult a legal expert from the beginning rather than running to one after you have encountered a legal claim or lawsuit. Companies that indefinitely include a business lawyer on their management teams seldom get sued. Not to mention, they are capable of dealing with all sorts of legal challenges in an efficient and seamless manner. Hiring a litigation attorney at the eleventh hour is far more expensive and destructive for the company’s reputation.  

Business Law Attorney in Saint Petersburg, FL, can help organize all aspects of your business and steer it towards success. Below is a list of business matters that require the expertise or advice of a legal professional:

  • Setting up Business
  • Planning Operations
  • Drafting Contracts
  • Signing up for an insurance policy
  • Real estate/property disputes
  • Obtaining permits and licensing
  • Compliance and Risk Management
  • Understanding and managing Taxes
  • Intellectual property protection
  • Personal injury lawsuits
  • Workers compensation claims
  • Hiring employees and independent contractors
  • Documentation of agreements and transactions
  • IRS audits
  • Merger or Acquisition
  • Revision, alteration, or updation of legal documents
  • Selling or closing a business

Failure to meet any of the aforementioned criteria may result in financial losses, as well as undoing of a company's image. The purpose of working with a business law attorney is to incorporate transparency and credibility in your operations and transactions. Choosing the incorrect structure for your company or failing to follow through on employee/client contracts can lead to costly repercussions. The service fees you pay your lawyer today are an investment that will save you time and money in the long run, whilst protecting your business repute.

What will it cost to hire a Business Law Attorney?

Legal expenses are directly proportional to the size of the business. Small enterprises typically have lesser liabilities due to limited staff and transactions. Business law attorneys, unlike personal injury lawyers, do not operate on a contingency basis. They usually bill by the hour, some demand a fixed upfront fee, and others charge in accordance to the nature of the services sought. Even though an upfront fee is expected, you don’t have to pay in full in advance.

When it comes to large corporations or multi-national businesses comprising more than a hundred workers, business lawyers have a lot more to manage and foresee. Large scale businesses cannot be supervised by an independent attorney; they have to associate with an equally extensive law firm that is well-equipped with all the resources required to meet their needs.  A well-established and expansive legal organization will naturally charge more against their first-class amenity and added security. To be precise, all your business goals and requirements will be taken care of simultaneously in one place.

A solo practitioner or small company may be able to resolve some of your concerns, but they will refer you to a more powerful organization when something big comes up. Larger legal firms are efficient and affluent, i.e. they have more staff and tools for solving complications and getting work done. They're also well-connected, which makes them a good place to start looking for new alliances and exciting business prospects. Clients, customers, workers, and rivals would think twice before swindling or pointing fingers at a company that is supported by a powerful and reputable law firm.

The cost of hiring a business law attorney cannot be determined without first evaluating the scope of your business and/or the type of issue it is facing. However, it is safe to say that not hiring an attorney will lead to greater damage, and fixing that damage will cost a lot more.

Hiring the right Attorney

A competent business law attorney is one possesses ample experience of working in the designated field, and can demonstrate their performance through a portfolio. It is recommended to work with a lawyer who has served other businesses like yours, though employing someone who has represented a major rival in the past could be problematic. Despite the fact that an attorney is obligated to safeguard client secrecy, the system is not without flaws. Assuming that no lawyer understands everything there is to know about the law, the person you choose should at the very least be able to satisfy you with legitimate references.

Lawyers that give a simple 'yes' or 'no' rather than a proper explanation are seldom reliable. When you seek an attorney’s help or advice, they should convey all your options and the consequences of each of them. If you have questions or doubts, it is their duty to provide answers and put it in plain words if necessary. The best attorneys in the business are beacons of knowledge and they readily impart it to clients, so that they are fully aware of all aspects of the case. When you walk into a law office, be sure that the person you speak with is not a middleman; you need to get to know the individual who will exclusively supervise your legal matters.

Joseph Franks
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