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Why you should hire an attorney.

Posted by Logan Marshall on August 25 in 4. Business Services |

Why you should hire an attorney.

Whether you are setting up a new business or you have already established a business you should know that many of the daily decisions you make will have legal ramifications. Some of these decisions will only have minor consequences while others may have considerable damaging consequences on your business. Yet still many companies try to go it alone. They attempt to make all the decisions themselves and often this can lead to trouble. Larger companies who may be using your services will undoubtedly have legal departments or at the very least an attorney who will look over contracts and other documents.

Specialization.

There are a number of areas that attorneys work in and like many other professions you will find more and more of them are beginning to specialize. You will need an attorney to help you with tax and business licenses, contracts and many other legal aspects of setting up and running a business. Depending on the type of business you are running you may need them for other purposes, and finding an attorney who can deal with the aspects you need is vital to the success and survival of your company. It is rare for a small business to require the services of an attorney on a regular basis. During set up you may only require several hours of their time. However once your business is up and running, and you have legally binding contracts set up, there is usually little call for your attorney’s services. In order to meet these varied demands attorneys offer their clients numerous ways to pay for their services that can be tailored to meet your needs.

Paying a retainer.

Paying an attorney a retainer means they will always be available for consultation when you need them, and they will only charge you the hourly rate you have agreed on. By paying a retainer you will know exactly how much you are being charged for their time. On the other hand, if you have no need to call on their services for a number of months you may feel that the retainer is a cost you can do without.

Prepaid legal plans.

Prepaid legal plans are a relatively new innovation and offer a number of benefits to the small business. Like paying a retainer you pay an attorney a monthly or annual fee in exchange for a number of services. For this fee, however, you will receive discounted services and even some useful free services. You will usually be afforded free telephone consultations, discounted hourly rates up to 50% cheaper than normal, free contracts and other documents, and you may even get a free in-person consultation for any new legal matters that arise. While there is usually a limit on some of the services the fee can range from a nominal monthly amount to much larger payments depending on the services you require.

Legal costs are something every business will have to face at some point or another, and usually more often during the set up. However, by using pre-paid legal plans you can not only keep these costs to a minimum but it also means you are more likely to consult an attorney early on, possibly avoiding legal action or higher costs in the long run.

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