I know you don’t want to think about it. My business is doing fine, you might say; or perhaps, we just started out! Why would we need an attorney? Maybe you need small business legal advice, but you’re worried about what it’s going to cost you.
Either way, you’re no closer to taking the necessary steps of finding and hiring an attorney to help you handle the legal aspects of your business. And let me tell you, they are necessary. I can tell you from experience that most likely you’ll save money if you have access to the small business legal advice you need.
A story to demonstrate my point:
I recently met with the owners of a small commercial painting company. They contacted me because they had just secured some extra funding and they needed some legal help to make sure their business was on the right track. After discussing their needs and how I could help them, it became clear that they needed a lot of work done—think $7,000 to $10,000 worth. They might have to restructure the business into an entity that is more beneficial to their needs. They need a buy-sell agreement. As they expand, they’ll need to bring more people on, which means they will need sales agent agreements and contracts for independent contractors.
That’s not an expense that a lot of small businesses are prepared to deal with.
The good thing about a general counsel plan is that you can get access to the legal work that your business needs without spending a lump sum.
Some Questions to Ask Your Attorney
If you’re in the process of picking an attorney for your business and want to be sure that the cost and service are right, be sure to ask these questions before deciding:
- How will I be billed for your services?
- Owners of newly formed small businesses and startups should ask this question when looking for a lawyer, especially if they have a limited budget (and most new companies do).
- How will we stay in contact?
- You might be concerned that if you’re paying a monthly fee for your attorney’s services that it will be difficult to reach your attorney at the times when you need small business legal advice the most.
- Will I have direct access to you?
- This is an important question for business owners who need hands-on help. Many attorneys will direct you to other members of their team who might not be able to answer your questions.
The Small Business Legal Advice and Services You Get with General Counsel
Having access to an attorney for your small business is about more than navigating lawsuits. As you can see from the example above, the positive things, like business growth and new opportunities, can benefit from small business legal advice. And a general counsel plan is an effective way to spread out the cost of hiring an attorney while still making sure that your business’s legal needs are taken care of.
Does a general counsel plan sound right for your business? Check out the plans that Gonzalez Law offers.
If you want to make sure that you maintain the asset protection and tax advantages of your corporation or LLC and you are not ready for one our General Counsel Plans, our Corporate Shield Program—which ensures that your business actions are properly documented, that formal procedures are followed, and that your business records are updated as things in your business, your life, and the law change—may be right for you.