Starting your own business can be a very overwhelming process. You have to figure out how to register the business, find the right logo, hire employees, create marketing materials, and that’s just the very beginning of it all. That is why it’s important to hire an experienced lawyer to assist you with accurate and current legal advice for your business. In this article, we will walk you through the six steps of hiring a business lawyer for your startup — from how much it will cost you all the way up to what is included in your contract.
Make sure to contact a business attorney who specializes in intellectual property law. Asking for recommendations from other lawyers or business owners or going online and reading reviews are always great ideas to start. Be sure to hire someone who has experience with startups, especially since many of the legal issues are very unique and specific to this type of company or industry.
Understand Your Needs
It is important to understand what type of lawyer you are looking for. Legal services vary widely depending on what legal assistance you need. That said, if you are looking for a startup lawyer, then they typically specialize in intellectual property law, contract law, and/or general business law.
Find Qualified Lawyers
You might be surprised to learn that while there are more than 600,000 lawyers in the United States, finding one who’s qualified can still be challenging. If you consider yourself an entrepreneur, finding a lawyer that understands your goals and can work within your budget is essential to business growth and overall success.
Find out what type of lawyer you need. This depends on the business type, location, and general business needs. More than one lawyer could possibly be beneficial to help with different aspects of your company. Take care to budget your money carefully so you can afford the right type of lawyer for your needs — this will prevent costly mistakes and alterations later on.
Evaluate The Legal Services Provided by the Firm
When hiring a lawyer for your startup, you want to find someone who offers the type of services you need. The most common types of legal services are business law (a broad term), intellectual property law, and contract law. You may also do well to seek a trademark attorney. Evaluating exactly what each person provides in order to make an informed decision is very important before opening your doors for business.
With a little preparation and a smart strategy, you can reduce the risks of hiring a lawyer for your startup. The better the lawyer understands your business model, the more efficiently they will be able to provide legal guidance and services.
Compensation, Costs, and Fees
Be aware of the costs for hiring a lawyer and set limits for what you can afford in legal fees when hiring an attorney. Determine how much you are willing to pay to make the most informed final decision and outline your next steps and make sure your attorney is aware of your budget as well. For example, you will need to know if there is a retainer fee that will be required up front or will be paid as services are rendered. These unknowns may feel stressful at first, but finding or determining the answers will set you up for continued success.
The purpose of taking these steps is to remove the mystery of hiring a lawyer for your startup. You cannot afford to have poor legal representation, so you should do your research and prepare questions before you interview any prospective attorney.
A Brooklyn small business lawyer can help you create a plan to protect your company if someone takes action against you. They will review your contracts, take charge of any legal proceedings, and provide advice about how to avoid legal disputes in the future.