Hire an Experienced Attorney
Most business owners dread having to talk with and hire lawyers. Some fear they’ll end up paying exorbitant legal fees or that they’ll receive bad advice that will destroy their business (if you’ve watched the show Arrested Development and have seen Barry Zuckerkorn in action, you’’ll know exactly what we mean). Others agonize over how to find a reasonably priced, competent lawyer.
Here’s what you need to know to hire a good lawyer for your new business.
Hire a lawyer who adds value
We’ve met and have sat across the table from many lawyers who are deal-killers. Overzealous and often inexperienced, they focus on the wrong issues and forget that their client needs the deal to move forward. When you talk with lawyers you’re considering hiring, ask them about one or two complicated negotiations and how they were able to overcome obstacles.
Don’t make price your main criteria for hiring a lawyer. Often, the least expensive lawyers are also less experienced – especially in the areas where you may need help. Paying a cheaper hourly rate might feel good initially, but at the end, you may end up paying far more than if you hired an experienced (more expensive) lawyer in the first place.
Also – be clear about your budget and expectations. Your lawyer should understand that your budget is limited and that they should not waste that budget on irrelevant details.