Whether you run a business empire or a small start-up, you will require the assistance of a commercial lawyer, whether to advise you regarding the business legalities and represent you in the court of law should the need arise.
While a large business house will probably have a separate in-house legal team to do the necessary groundwork, SMBs usually do not have adequate resources for one. However, in both cases, an external commercial law firm is appointed to meet representation needs primarily in case of any eventuality.
But, how do you choose the right law firm for your business? Here are some questions to ask to find one that suits your business needs.
Does the law firm have exposure to commercial legalities?
It is understandable if you do not have the foresight to understand the legal issues that may crop up for your business in the future or how to word a legal contract for your stakeholders exactly. But these should be a cakewalk for your law firm. After all, you intend to appoint a commercial law firm to advise you in the nitty-gritty of the business and assist you in correct decision-making.
Does the law firm have expertise in your line of business?
If you are a firm that is just setting up, your law firm should help with a legal roadmap to fulfil your business vision and goals. They should be able to advise you on the registration process with the Australian Business Register, contracts, and agreements, as well as other legalities that may impact your business. They should also ascertain that your brand isn't infringing Intellectual Property of any other entity. In short, the law firm you appoint should have relevant experience in your business sector.
What businesses do the law firm represent?
Research the businesses for which the law firm works mainly. Talk to people who have collaborated with them to gauge the quality of services offered. This insight will help you understand how invested the firm would be in your business interests and whether you would benefit from this relationship.
Does the Law firm have an Overseas Presence?
If your business operations extend overseas, then you would like to work with a law firm that has substantial exposure in the countries where you operate. Collaborating with law firms in each country of operation would strain your finances, which is not a good idea.
Do you want to appoint a law firm for general legal advice or specific legal issues?
This is a crucial question to ask as this would give you clarity regarding the kind of firm you would like to appoint. If it is general consultation regarding business laws, then any commercial law firm would help. But if you wish to receive specialised advisory for a specific legal tangle, it is best to choose a firm with experience in a similar scenario.
What are the service charges of the law firm?
The charges of retaining a law firm should suit your budget. Usually, established firms with big-shot lawyers charge exorbitant fees, but some low-profile firms have practical expertise yet charge less. Scout for the ones that have the relevant experience; have been recommended for their services in your business community; and charge fees within your budget.
Whether you have an established business or are just starting out, having a reputed legal firm on your side can help you with the right counsel for your business and help protect you from business fraud. Reputable law firms like Prime Criminal Lawyers are just a phone call away.