When you are starting a business in Barrie, Ontario, it is important to have a reliable corporate lawyer in Barrie right from the very start to advise you on complex legal questions and represent you in all types of business law matters. With the right expertise on your side, you can feel confident you’ve got your legal concerns covered as you focus on getting down to business.
Hiring and working with a lawyer can often be a daunting task however, especially if you’ve never worked with a legal professional before. Here are some tips on what you should look for in a business lawyer and how to deal with the attorney-client relationship:
Hire a lawyer early on
Many entrepreneurs who are starting put off hiring a lawyer until they find themselves in some kind of legal trouble. Attorneys charge high rates and many small businesses don't have much money set aside to pay lawyers, so it is understandable why they wind up using self-help resources instead.
While you certainly don't need an attorney for every step of running your business, there are a few situations when you are just starting out where you'll want or need the advice of a good corporate attorney. A few examples are when:
- If you are forming a partnership
- Before incorporating your business
- When you are entering into a lease
- When you are planning on taking money from investors
- When you are putting a product that might create some liability issues
- When you are buying or selling a business
- When you are hiring employees with access to company secrets or confidential information
- When you are negotiating contracts with customers and suppliers
- When you are raising capital
Basically, you will want to make sure to hire a lawyer before you do something that’s going to get you into trouble. Getting good legal advice is not free, but often it will save you money and help your business in the long run.
The best strategy for any start-up is to establish a client-attorney relationship early on, even before an actual need arises. Start finding a good start-up attorney with a reasonable rate for basic services like an initial consultation or to get basic business formation and deliberately include those numbers into the budget as you get the funds together to start your business. The sooner you start getting good advice, the better off your business is going to be.
Ask about their fee structure
You need to plan for your business’ legal costs, so don’t hesitate to discuss payment arrangements with any potential lawyers you plan to hire. Basically you will want to know
- how much the attorney charges,
- how often you will be billed, and
- whether the attorney may consider an alternative fee arrangement.
Most startups will deal with attorneys that will likely charge from $150 an hour for a junior lawyer at a small firm in a smaller city and up to $1,000 an hour for senior partners in big firms in major cities. Lawyers typically charge on an hourly basis and bill in ten- or fifteen-minute increments. So if the attorney charges $200 an hour, for example, he will bill $50 for fifteen minutes of work and $100 for half an hour of work.The hourly rate is certainly a crucial part of the costs and is something to really consider when you are on a tight budget.
Choose the right fit
When making your final decision, keep in mind the following concerns to ensure that you select the attorney who will best meet your company’s needs:
- Do you think you will feel comfortable working with this person on a regular basis?
- Does the attorney have the right qualifications to help you?
- Is the payment structure reasonable and within your range?
- Do you feel that you can reach a level of communication between yourself and the attorney where you can freely confide sensitive aspects of your business?
Hiring a good corporate lawyer in Barrie is not just recommended but a necessity. He can negotiate leases for your office and retail space, provide copyright and trademark advice, draft software license agreements, oversee corporate meetings, ensure that your business complies with all related laws to avoid lawsuits and liability, and basically provide vital assistance in almost every aspect of your business.
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