Selecting A Business Lawyer

- A practice with experience relevant to your business.
- An ability to practice preventive law; that is, anticipating problems, reviewing existing contracts and policies, and giving advice on new laws, regulations and court decisions that may affect your business.
- A reputation as a practical problem-solver.
- A willingness to function as a partner.
- An awareness of your broad business needs rather than just narrow legal considerations.
- An ability to reconcile legal requirements with practical business necessities.

Many entrepreneurs will choose an attorney, if they do not have one, on the basis of a referral from someone they know. Other sources of legal referrals include the Martindale-Hubbell Law Directory, and the Lawyer Referral Service of the State Bar of Michigan. Your attorney should explain to you the extent of services which will be provided, and the estimated fees and costs. If not, ask. Most attorneys will charge an hourly rate for their time on business matters, although a fixed fee may be arranged for some matters. A retainer is sometimes paid as an advance or to guarantee services on a particular matter, or it may be paid to have a lawyer "on call" to handle routine legal matters. If an hourly rate is quoted, request itemized statements and ask what the smallest increment is in which time is billed. Keep in mind that $120 per hour billed in tenth-of-an-hour increments may well be less expensive than $100 per hour billed in quarter-hour increments.

Obtaining the assistance of an attorney should be considered a necessity, but make sure the results match your needs. If you are incorporating a local service business, you probably don't need to pay for legal research and an opinion letter stating whether the stock registration requirements of the Securities Exchange Act of 1933 apply to your company. George Bernard Shaw's adage applies: "Take care to get born well."

For more articles and resources on law-related topics, visit the Coupe & Van Allsburg site.