Hiring a good corporate lawyer in Barrie is critical for any sized
business. Whether you are operating a start-up venture, a small company or a
large corporation, legal matters that may arise throughout the course of your
business can become a major expenditure, so it’s an extremely important
decision.
Many entrepreneurs are sometimes reluctant to hire an attorney for
their business for a couple of reasons. One is that business owners balk at the
costs, particularly since lawyers have become increasingly specialized. Another
reason is that many fear that lawyers will over complicate every decision they
make and will only stand in the way with the growth of their business.
They won’t hesitate to hire an accountant early on as they believe
that the business has greater need for someone to help layout the
organization’s chart of accounts, check financial records periodically, and
prepare the required federal, state and local tax returns. They fail to see,
until they are being sued, that a good business attorney can provide valuable
legal advice in almost every aspect of the business.
In a nutshell, every business needs a lawyer for a number of
reasons, including some of the following:
• Creating a corporation or LLC
• Putting together a partnership agreement
• Negotiating business and employment contracts
• Drafting common business contracts
• Buying or selling your business
• Obtaining public or private financing
• Drafting internal business policies and procedures
• Filing tax returns, licenses and other legal reports
• Drawing up basic documents such as minutes of formal meetings, articles of incorporation and bylaws
• Negotiating lease of office or retail space
• Obtaining patents, trademarks, copyrights, and trade secrets
• Dealing with franchise and distributorship issues
• Managing pending or potential litigation
When finding the right corporate lawyer, competence is, obviously,
the most important factor to consider. Big corporations typically retain a
large law firm that has top legal talents with ample resources and expertise in
numerous fields of law. Though it costs a lot of money to secure their
services, it can be more advantageous for the business in the long run to have
all the legal skills ready and available under one roof and to be able to
leverage on the influence and power the legal firm has in the local, regional
and even the national legal community, particularly when your business is
looking for financing sources or seeking partnership arrangements.
Small to midsize businesses usually hire a general business lawyer
or a general counsel, who has solid knowledge and experience in many areas of
law, including corporate law, partnership law, labor relations and employment
law, tax, contracts and debt collection. Keep in mind, however, that a general
counsel may not have all the skills your business may need to grow. At some
point, a general practitioner may have to refer you to a specialist or to two or three or even more attorneys which
could result in an additional amount of legal costs over time.
Small businesses also have prepaid legal service plans as an
available option. These plans provide quality affordable legal services which includes
unlimited telephone legal consultations and routine legal tasks, such as
drafting basic contracts and equipment leases.
A good starting point for finding the right lawyer for your business
is to ask relatives, friends and business associates to recommend one for you.
Also, you can contact your local or state bar association or trade or
professional organizations or chamber of commerce to ask for a referral. If you
have acquaintances who are lawyers or paralegals, it’s good to ask them to
recommend someone with the specialization you need.
Sooner or later, your business is going to need some type of legal
representation. Finding a corporate lawyer in Barrie, who can anticipate and
address the specific legal needs of your company, can prove to be a huge asset
for your business.
