There are a few things that all Business owners need to be successful; a vision, motivation, and determination. But that's not all they need. Business owners, especially in the 21st century, need more than just personal moxie and intelligence. They need people around them to help them, experts who can help guide a company toward longevity and success.
One such expert is an accountant. Of course, that's a no-brainer, if you're beginning a company, or trying to expand a current one, an accountant is without a doubt a necessary part of a business. Another expert that business owners often overlook but would benefit greatly from, a business lawyer.
It may not seem as obvious as hiring an accountant, but a business lawyer can help companies in a number of ways. First, they provide assistance in every aspect of a business. Depending on your company, you may require a variety of needs from your business attorney. Business lawyers help business owners with zoning issues, copyright and trademark laws, liability cases and lawsuits.
Unfortunately, many lawyers with little specialization in business, misrepresent themselves to clients all the time. If you're running a company it's important to know what to look for before hiring a corporate law firm to help with your business.
BIG LAW VS. SMALL, WHICH IS BETTER?In theory, the case can be made that whether big or small, Law Firms should be committed to their clients. They should represent their client's interests to the best of their abilities. In reality, that's not always the case.
Businesses are as unique as the individuals who run them, and the needs of one business might be better suited to a large law firm, while the needs of another might fit well with a smaller firm. Bigger does not always mean better. The key is finding the right fit for your company's needs.
Companies require a multitude of skills, talent, and aptitude from a law firm. Over the past twenty years, the nature of business has transformed, and with it the nature of law. In fact, lawyers have become increasingly specialized. Smaller firms or solo practitioners may not be able to provide your company with all your business needs.
Smaller firms typically lack the capacity to handle the variety of tasks that you put before them. While they may be able to handle your lawsuits, can they also negotiate the lease of your office space? Can they file a patent or help you with trademarks? Can these lawyers also help you draft a software license agreement? If you don't think a smaller firm or solo practitioner can handle all of your company's need, you might think about working with a larger firm.
ALL THE BEST QUALITIES OF BIG LAWLarger Corporate Law Firms, although more expensive, offer a variety of advantages over small law firms. The first advantage is that they usually operate under a full-service title. These law firms will have all the legal tools you need, housed within one firm. They can handle both your business and personal needs if you require it.
There is a number of advantages to hiring large corporate law firms, the first of which is obvious; reputation. Yes, smaller law firms can represent you just as well as a large firm, but there is unique leverage with the backing of a powerful and well-known law firm. After all, "perception is key," a letter from a nationally ranked powerhouse firm, sends a considerably different message than a letter from a locally based small firm.
Another great quality about working with large corporate law firms is the ability to network and connection the firm can help you with. Large firms can introduce you to financing sources, or use their recognition to seek out partnership agreements on your behalf.
If your company is quickly growing or you're planning on selling it one day, the extra benefits a large firm can provide to you is extraordinary.