Reasons Your Business Needs Legal Representation
Your business lawyer can produce value in three ways:
- Limiting your risks. Your business lawyer should help you identify the risks your business could face and assist you in mitigating those risks. For example, if your business has employees, your business lawyer might help your business in drafting employee handbooks with policies to put your business in the best position if an employment dispute was to arise.
- Navigating through the maze of regulations. Arguably, there is nothing more frustrating than paying taxes or penalties for issues on which you unknowingly could have saved money on . Your business lawyer can keep you advised regarding how current or pending legislative, regulatory and policy changes may impact your business.
- Resolving disputes. If you have a dispute with another party (employee, vendor, partner, etc.), your business lawyer should be the person you go to for help. Nobody wants to waste time and money litigating over issues that should have been resolved much earlier in the dispute process. Your business lawyer can help you determine your best course of action to reach a settlement.
Business Lawyer Services
Effective business lawyers offer a menu of services that help their clients to establish, grow, and protect their business. These services include:
Contract drafting, review, and negotiation
Protecting your intellectual property (IP)
Employment law issues
Regulatory compliance and licensing
Entity formation
Zoning
Divorce litigation
Franchise law
Buying and selling business
Business appraisal
International business law
Bankruptcy
Home-based business considerations
Legal structuring of an estate plan
Debt collection
Assisting with the structure and formation of business organizations
Litigation representation in all courts and administrative agencies, including preference avoidance and fraudulent conveyance litigation
Liquidating and winding up the affairs of a dissolved business
Negotiating and participating in the successful and efficient resolution of business disputes outside the courtroom, including mediation and arbitration
Planning for the orderly transfer of business to the next generation or to third parties by buy-sell agreement, shareholder agreements, stock buyback, shareholder plan, shareholder succession, and other arrangements
Taxation considerations and guidance in the minimization of federal and state taxes; assistance with tax audit
One of the key functions of an experienced business attorney is to give advice on various legal issues that can impact your company, whether it’s small, mid-size, or a large corporation.
Tips for Finding a Good Business Attorney in Columbus, Ohio
Finding a reliable business lawyer in Columbus, Ohio, involves a careful evaluation of his or her credentials, track record with other clients, experience, and professional memberships. You can conduct research and ask questions to narrow down your list of candidates.
Start with a search on the Ohio State Bar Association LawyerFinder. You can enter your zip code or the name of the person you are looking for, and you will be given the basic credentials of attorneys in the area. This will give you a good opportunity for comparison.
Next, check online reviews. People tend to be more willing to write reviews about professionals online that they have not completely liked. Therefore, for a law firm to have some bad online reviews and still have a good rating, should say a lot. If there are several bad reviews, you may want to cross the professional off your list.
You may also wish to do a due diligence check with the Ohio Bar Association. Here you can find out if any complaints have been lodged against an attorney. You can call and speak with someone familiar with his or her skills, as well.
Membership in the local bar organization is also important. This means the attorney stays active in the local legal community. You can also ask about what memberships he or she holds in other professional organizations, as well as whether they are involved in any charitable or social organizations. It is important to find a professional who will fit in with both your community and the legal community.
You can also ask for referrals from other professionals. Your accountant will know of other skilled members of the legal community, as will your banker. Simply ask for a referral for a business lawyer who handles companies similar to yours.
Ask questions. Go in with a general idea of what you want the business lawyer to do for you, and then be prepared to listen. A business attorney should be able to listen to your concerns and develop a rapport with you. If someone simply goes through business during your interview, it is likely that your client/attorney relationship will end up the same way.
Interview two or three attorneys before making your decision. This allows you to compare services and level of interest. It also allows you to develop a plan B in case the attorney does not work out the way you had hoped.
The Price of Hiring a Business Lawyer
Hourly rates are one of the most common fee arrangements in Columbus, Ohio. Most lawyers have a billing rate based on their practice experience, and they’ll charge that rate for each hour worked on your case. Sometimes they will bill by the minute, sometimes by the tenth of an hour, but it’s always by the hour.
Hourly rates typically run from $100 to $400. The average hourly rate in Columbus is about $190 to $225. If you have a routine need, like an LLC or partnership formation, a flat fee can make sense .
Most business lawyers offer flat fees for events like the following: Flat fees vary according to the work being done. Commonly, they range from about $500 to $750 for business startup work (like LLC formation) and $750 to $1,500 for things like a business sale or purchase.
Retainers are another common payment structure in Columbus. There are a couple of different kinds of retainer agreements: Lawyers who require an upfront retainer usually charge reduced rates. Retainers help lawyers manage their cash flow, and businesses familiar with working with lawyers find them convenient.
How to Work with Your Business Lawyer
If you want the relationship to be a productive one, it’s important to recognize the difference between what you should be doing and what your business lawyer should be doing. Let’s look at the different roles each of you should play. It’s important to find out what questions to ask your business lawyer. He or she should be able to give you answers with a satisfying level of detail – without adding to your confusion. As is often the case, this goes back to communication: a good relationship is all about establishing a clear line of communication with your business lawyer, and ensuring that both of you understand what the other has to say.
Benefits of Choosing a Columbus-Based Lawyer
The business community in Columbus is unlike any other in the state. The unique local challenges, growing industries, and extensive opportunities for further growth make Columbus, Ohio the unrivaled business capital of the region. Having a legal expert on your side who is intimately familiar with the intricacies of the Columbus business landscape is an enormous advantage to have when starting a business in this state. Finding a Columbus-based lawyer who can help you navigate the intricacies of state law while also providing valuable advice that takes the local business community into account increases your odds for success exponentially.
Only local lawyers both understand the legal landscape across the state and have a clear grasp of its business environment. They not only have the experience and know-how of local state law provisions , but they also see every day the ways in which business owners just like you are able to leverage these laws for their gain. They can use their insights into the local business landscape with your own recommendations on the steps you should take to start and grow your business. These insights provide a crucial advantage that increases the odds for your success immeasurably.
Having someone who is invested in the Columbus, Ohio business community and its growth will help keep you motivated to succeed yourself. Someone who can help keep you involved with the local business community will a give you a better chance over other business owners to be kept informed of upcoming events and opportunities and to be put in the best light possible for your business.