This is true that hiring and working with a lawyer is not an easy task, especially if you have not done it before. People who have not hired lawyers in the past often find it quite a daunting task and they avoid it just because they are less aware of the legal matters. However, if you are starting a new business venture, you need to hire the best lawyer for it in order to stay compliant with several legal provisions. As per Jeremy Schulman, doing a business in modern times does not only require you to have operational expertise, but you are also supposed to cover the legal side as well in order to stay ahead of the competition. If you do not want to waste time in legal matters, the best practice you can do is to hire an attorney who knows your industry and is well aware of all the applicable laws. In this article, we will discuss the important things which a startup businessperson must know when he is planning to hire a legal person.
Why do startups need a lawyer?
As a startup business owner, you might think that there is no need to get a legal service, however this is not a great idea! Spending some money in the initial stage of your business will help you save a lot in the future! There are many stakeholders to a business, and you are required to deal with all of them in a professional manner. If you are starting a business in the form of a partnership or company, you might be required to deal with the following groups, and a lawyer will definitely strengthen your position.
- Government departments and authorities
- Partners and other shareholders
- Suppliers, customers, and other parties
It is important to decide terms and conditions with your partners at an early stage, as this will help you resolve disputes, if any. A good lawyer will help you formulate the contracts which cover all the aspects of business relationship in the most professional manner. In addition to this, as a startup, you will be required to get registered with multiple authorities, and a regular compliance will also be required. This becomes easier when you hire a lawyer! Similarly, if you deal with suppliers and customers with contractual bindings, you safeguard your position.
What to look while hiring a lawyer?
There are several things that you must consider when you are hiring a legal attorney. If you have not hired a legal person in the past, you should start with references. References will provide you with the best resources. Start asking your professional circle to get the best leads. It is important to check the reputation of the law firm beforehand. This can easily be verified with the help of feedbacks and reviews on independent platforms by real users. Do not forget to check the expertise and qualification of the legal team before you finalize your decision. It is better to hire someone who has an experience of dealing with the same industry in which you are operating your business.