Pro Tricks: How to Pick the Right Lawyer for Your Startup
Many startup owners try as hard as possible to avoid lawyers to save money. However, if you have a good lawyer on your side, you can set up your business much easier and save on costs in the long run. And keeping your lawyer on after you develop your company will help you avoid all sorts of legal issues in the future. Pros know how to secure your business and save you money—it’s their job! But how can you hire the right kind of person for the job?
Look for someone who fits your company
Start by looking for a person you can trust, get along with, enjoy working with and share interests and work philosophy with. In order to find such a professional, it’s best to turn to referrals and ask your colleagues for a good lawyer.
Find the expert for your needs
Most business attorneys know their way around typical startup needs such as creating a corporation and partnership agreements or drafting basic contracts. If you only have some questions about taxes or trademarks, find someone who specializes in those areas. On the other hand, if you want to start a long-term legal counsel relationship with a general lawyer, find a business attorney who specializes in startups and small enterprises.
If your industry is highly specialized and regulated, you will benefit from a lawyer who has experience in your field. Let’s say you’re starting a green energy startup—having someone who understands environmental law and projects like yours will be the right fit for you.
Find the right-size firm
You have big law firms, small firms and solo attorneys. In case your startup grows into a giant corporation like Amazon, you will require the services of a large law firm or even organize your own in-house legal department. However, until that happens, it’s better to avoid big firms. Not always, but usually, startups are low priority cases for large firms. If they work with Fortune 500 companies, it’s highly unlikely they will find time to dedicate to you as an individual client. Plus, the costs of such lawyers are astronomical.
Another issue with working with big, international firms is the question of who’s going to handle your case. Mostly, you can expect to be assigned a new associate fresh out of campus. How are they going to navigate the world of law? Do they plan to stick for longer or look for a new job after they get some experience? Will your file circle around the office, getting rejected on every corner?
Working with smaller local firms is a much better option for startups and you can find these companies even in big business centers like New York, London and Sydney. If you dig a bit, you can find good local lawyers in Sydney who offer personalized and flexible legal services tailored according to small business’ needs. This way, you will get all the legal advice that you need and also get the attention you deserve.
Opt for someone who’s willing to learn
Sure, you need general law tips, but if your attorney doesn’t understand anything about your type of business, you will come across many communication hurdles. However, this doesn’t mean if you work in computers, that you need a computer expert lawyer—you just want someone who’s willing to learn a little bit about your company, your workday, your customers and strategic partners.
Choose someone who brings many things to the table
Legal services are usually not cheap, so make sure to get the most for your buck by finding someone who has a lot of things to bring to the table. You can check if the firm hosts events for clients so they can meet and network (live events, webinars, virtual conferences). Also, don’t forget to ask whether they have a network of associates they can refer in case you require specialized needs. Are they members of trade associations or other groups (you can always benefit from these)? How comfortable are they with introducing you to other clients, potential customers or partners?
Feel free to dig for detailed answers to these questions when choosing your lawyer. And don’t fall for promises that sound too good to be true, but use your best judgment and you will surely make the right choice and ensure your startup is protected and ready to thrive.