5 Tips how to hire your business attorney

In fact, I've seen legal rates actually decrease with the oversupply. So as a consumer of legal services, you can benefit by getting the most return in your dollar expended on legal services. Although the attorney market may not be as favorable in your area, the suggestions presented for hiring the best attorney at the best price will still be applicable.
 

Most attorneys are constantly scouring the landscape for new business. A promising business startup (particularly a well-planned effort) could present an enticing prospect. Many attorneys are willing to give a billing break to a new business in exchange for that client's loyalty and the possibility of collecting even greater fees in the future.

But obtaining a favorable price is not the only consideration in hiring an attorney. You need the services of a competent business attorney, one who can adequately fulfill your needs as your business grows. Beware that there are many types of attorney in the market and some general practitioners market themselves as business attorneys when is only a fraction of their business. You want someone whose primary focus is business law.

Some 5 tips in hiring your business attorney are as follows:

1. Ask around

Ask for referrals from your friends and associates who are in business. Contact the trade association for your type of business and see who represents its members. Call the local bar association to find the names of attorneys who specialize in business.

2. Once you have located a few prospects, contact them about representing you. 

Ask for reference. Do not hire any attorney who will not talk to you (at least by phone) or an attorney that do not feel comfortable with.

3. If you are new in business or have limited resources, request a possible discount in initial fees in exchange for the potential prospect of long-term representation.

If you don't ask, you won't receive. Even inquire about a possible trade out of your product or service for legal representation. State that this is only for the initial legal services and not for the duration of your relationship. If you are sincere in both your need for a discount as well as your commitment to the attorney, you might just obtain the right attorney at the right price.

Even if your resources are not limited, always ask for fees. If you give the impression that you are not concerned about legal fees, then your attorney won't be particularly concerned either. Inquire about attorney's hourly rate and always obtain a flat price if you can. Many items, such as formation of a business entity, are characteristically done for a flat fee. Be reasonable, though, in your price negotiations. Your goal is not to obtain the best possible price, but rather a competitive price for a good work product.

4. Respect your attorney's time, particularly if you have requested a discount.

Realize that your attorney's time is their product. Only call your attorney when you really need to talk to them. When you do call your attorney, have all of the relevant facts at your disposal. Don't send your attorney off scurrying for information that you can easily find yourself. If your particular question is involved, write it down and then e-mail or fax it, along with any relevant documents. Reducing your questions to writing gives your attorney something to refer to as well as serving to flush out all of the useful information. Clients would rather waste several phone calls (and billable time) in providing the necessary information.  Anything you do to make you attorney's life easier will help your relationship and maybe your fees.

Learn to anticipate deadlines: there's nothing more imposing on a professional than having to do something at the last minute, particularly when the crisis could have been avoided. Although emergencies happen to everyone, learn to anticipate deadlines and allot your attorney the necessary time to complete the needed task.

5. Size of the law firm

Law firms come in all shapes and sizes, ranging from the solo practice to international firms with hundreds of attorneys. Generally speaking, the larger firms cater to larger businesses. Since the larger firms generally have more overhead, they usually more expensive and might not be particularly interested in representing a startup (particularly on a discounted basis).

However, some of their younger associates might be more aggressive in trying to build up their clientele. The larger firms naturally have broader range of personnel than the smaller firms. However, the smaller firms can have just a deep a talent base, particularly in a specialty practice area such as business law.

The important thing is to find an attorney with whom you feel comfortable. That person should have the necessary talent and be able to commit sufficient time to attend to the legal needs of your business.