1. Know when you will need legal advice: these are some typical situations:
– When you are deciding whether to transform your company into a corporation or not, and you need the necessary documentation to be prepared personal injury lawyer rockford il.
– When you try to write or decipher a complicated contract.
– When you receive a threat of legal action.
– When you need help to collect a debt.
– When you need information on regulations relevant to your business and help with how to comply with them.
2. Hire a lawyer who understands your company
Get your lawyer (like any other professional advisor) to understand the particular needs of your company. When you have interviews to select a lawyer, ask him if he has previously worked with a company like yours. You don’t have to pay for your learning time. Has your firm worked with small businesses before? What type? If specialized regulations or other legal requirements apply to your field of activity, you will need a lawyer who knows them well.
3. Use references
Referrals are the best way to find virtually any service you need, and the lawyer is no exception. Talk to other small business owners, your banker, your accountant or other advisors you trust. You can also consult your local professional bar association, although not all of them verify the specialization or experience of its members. Naturally, a reference from these entities guarantees that the lawyer has passed the necessary examination.
4. Understand what they charge you before receiving an invoice
The attorneys’ fees may vary depending on where you work, the experience you have, your specialty, and whether it is a large law firm or a small legal office.
Understand how the lawyer charges. When you call for advice, do they charge you the time you are on the phone? If so, how are these fees calculated? Are there different rates depending on who works on your account? (A lawyer, an investigator, a legal assistant).
Also, ask in advance if they will charge you for the first consultation.
5. Negotiate a billing method that meets your needs
Most small businesses pay a lawyer when they need it. If you work two hours, this is the time you are paid. If you have a continuous relationship with your lawyer, you will probably be billed once a month for the services provided.
Another option is to have a relationship based on equal fees with a lawyer, but this is uncommon for small businesses. This means that you pay fees to a lawyer who agrees to be available to perform certain tasks previously agreed upon for your company, in a permanent employment relationship. If you face serious litigation, or have a special project, additional fees are negotiated.