Companies around the world are in a constant need for qualified legal representatives. Many large companies combine having an internal legal department with having an external law firm. Smaller companies with little resources either hire an internal lawyer or partner with smaller law firms. This article will guide you on how your company can hire a successful lawyer.
Why Companies Need Lawyers
Many large companies generate millions of profits every year. As a result, they are the targets of many law firms, who seek to find gaps in their operations. In the United States, most companies are usually bombarded with hundreds of class action lawsuits. Others are usually sued by their employees on workplace safety issues while others are sued by their customers on product quality issues. Other reasons why companies need legal representation are:
- To deal with the regulators.
- To define their terms, conditions, and policies.
- In case of mergers and acquisitions.
- To fend-off activist investors.
- For dispute resolution mechanisms.
- Local and international tax planning.
- Restructuring and insolvency.
- Intellectual property
How to Hire Quality Corporate Lawyers
In recent years, the number of cases brought to many courts has been increasing. In addition, the number of lawyers graduating at universities and in law schools is increasing. Therefore, it is possible to find a quality corporate lawyer easily. However, you just don’t want any lawyer. You want a credible lawyer with a proven track record. To achieve this as a small company, you should use the following tips.
Don’t Limit Yourself to Large Law Firms
As a small business, you want a quality law firm that has been in the industry for many years. Such a law firm does not necessarily need to be among the large ones. In the United States, you don’t need to use large firms like Jones Day and in the UK, you don’t need to use Slaughter and May. These firms will be so expensive for you. Instead, you want to use small firms that have a track record of winning cases. You can get such lawyers through your networks or by looking at the local lawyer directory.
Review the Attorneys Social Media Activities
Most lawyers are today active on social media. The same is true with many law firms. This is because they understand that the use of social media platforms can help empower their brands and reach out to more people. Therefore, when looking at a new corporate lawyer or law firm, take time to review their social media activity. Most importantly, look at their LinkedIn profile, where most of them list their previous cases.
Review Their Track Record
Most successful lawyers and law firms have a website where they list their most recent cases. They also list their track record in the websites. As a small company, you can learn a lot about the qualification and track record of a lawyer or firm by reviewing this track record. In addition, you can use Google to search them and learn more about their past cases. As you do all this, you will realize that Google is a very important tool. As you review their records, you should also review their publications.
Negotiate the Fees
Like doctors, lawyers are usually very expensive. In the US, some lawyers charge as much as $5,000 a hour for representation. Therefore, before you settle on a corporate lawyer, we recommend that you take time to negotiate with them the hourly wages. By taking time to negotiate, some will drop their prices depending on your negotiation skills.
Find a Business Lawyer You Can Build a Relationship With
Finally, it is important that you hire a lawyer you can have a business relationship with. This is simply because they will become an integral part of your team. They will know most things about the company. As such, you want a lawyer or firm that is credible, trustworthy, and who shares your vision in business.
Hiring a good corporate lawyer can make or break your business. This is because with the number of lawsuits – particularly class action – on the rise, companies need to be very proactive on all this. By using the simple strategies described in this article, companies can have quality legal representation while saving money for the long-term investments.