No matter the size of its operations, one of the most critical decisions a firm has to make concerns their choice of attorney to hire. Necessary for almost all aspects related to business (from copyright to liability), employing a reliable corporate law firm ensures that you have access to essential legal assistance.
If you are in the market for some new legal help, read on for four tips for choosing the best corporate law firm.
1. Know what you need.
For many business owners, finding appropriate legal representation can be an overwhelming task as there are millions of lawyers licensed to practice law. As lawyers are highly specialized (in a similar manner to doctors), to ensure you are spending your time wisely, first identify your needs and then start researching potential options later.
Generally, if you are just starting with your business, then you want to be looking for a corporate law firm that can cover a wide array of lawyer services such as arbitration, intellectual property, litigation, and tax. By working with a larger corporate law firm, you are likely to have all the legal skills you require in one place.
If you are having a specific legal problem that your current legal team can’t handle, then seek to find a specialist who can work on that particular issue.
2. Tap into your network.
Once you know what you are looking for in a law firm, it is then time to start generating a list of potential options. First and foremost, take advantage of your network and speak with acquaintances in your industry, other business owners, and any friends who have experience with corporate lawyers.
A referral from someone you trust is always a welcomed strategy for determining the reliability and professionalism of a firm.
However, if your personal network isn’t proving fruitful, then you can expand your search to online forums and resources that focus on reviewing lawyers. This can be an efficient way for you to browse through a broad variety of options before narrowing down the list to a manageable number.
3. Prepare thorough questions.
Once you have a pared-down list of the top corporate law firms in your location, it is time to start reaching out to the possible candidates and interview them about their experience, their specializations, and their values.
Most importantly, you want the firm to demonstrate that they have the appropriate experience in the area you are seeking help in. To discern this, ensure you are asking about their time in business, how many cases in your specialization they have dealt with, and what the results of these cases were.
During this process, take note of the professionalism of the firm. This can be seen by the way they communicate, how efficiently and economically they operate, and how well-prepared they are for your meetings.
If you still want more information about a particular firm, ask for the details from previous clients of theirs whom you can consult about the practice.
4. Keep specific considerations at the forefront of your mind.
Generally, it is recommended that you choose a corporate law firm that is familiar with your region as they will have a greater understanding of the local laws and procedures.
Moreover, you want to be choosing a corporate law firm that has a comparable style and approach to your own business. After all, you have to feel comfortable with your legal team and be assured that you can trust to act appropriately in all situations regarding your company.
Finally, cost (as always) should be a consideration when looking at corporate law firms. While you should never choose a firm based solely on price, you want to ensure you are fully aware of their fees and any other business arrangements as early in the process as possible.
Is your business currently looking for a corporate law firm? What are some of the challenges you are encountering in your attempt to find the right one for your needs? Let us know your thoughts and experiences in the comments below!