Finding Legal Services for Your Business

One area of administration that many business owners tend to procrastinate on is seeking out legal counsel. Although no one wants to dwell on the scary possibilities of actually needing a lawyer, establishing a working relationsip with a law firm and/or legal services company is necessary.

When should a new business owner seek counsel?
The best answer is... during the startup phase. In order to adequately protect company operations, a new business owner should be focused on drafting certain key documents such as:

* Incorporation or other business entity filings
* Stock & Options Issuances (if applicable)
* Employment & Independent Contractor Agreements
* Intellectual Property documents (Copyrights, Trademarks, Non-disclosure Agreements, etc.)
* An Employee Handbook

How does one go about finding a good lawyer?
Assuming that you already have a CPA (Certified Public Accountant), this is by far the best source. Most CPAs deal with lawyers daily, and usually can refer you to a local firm that is appropriate to your size and type of business. Aside from this option, you can always seek out the advice of an established business owner for a referral, or do a bit on online research. You will definitely want to look for a firm that is experienced with the needs of small business. Try a Google search on "Law firm for entrepreneurs" or "Law firm for small business" (you may want to add in your location to get results relevant to your area). You can also start your search for a lawyer at FindLaw.com.

A word about Financial and Legal matters:
If your goal is to eventually seek out venture capital or equity financing, be sure your legal house is in order now. VC firms and investors will want to see that you have a solid legal strategy that is well documented and established from startup!

Sledgehammers and Mosquitoes:
Be keenly aware of your size of operation vs. the size of the legal bill. In other words, you don't need a sledgehammer to kill a mosquito. You will undoubtedly find a range of legal services for startups ranging from the three-figure to five-figure invoice. Find legal services you can afford! If you are closer to the three-figure limit, consider starting out with a reputable agent such as BizFilings to draft your licenses and business entity filings. You can also save on your legal bill by hiring a lawyer on a consultation basis. That is, you agree to do all the initial legwork by drafting your own agreements, and the lawyer would then review and advise on what you present. This is a great way to stretch your dollars and still get the legal advice you need.