3 ESSENTIALS FOR CHOOSING THE RIGHT SOLICITORS FOR YOUR BUSINESS Every business, sooner or later, will require legal counsel. A lawyer can be an expensive line item or a huge asset to your company. It is up to you as an entrepreneur to make that decision. The process of hiring a solicitor for Company Business Formation can be intimidating if you have never done so before. When the client is well-informed and knows what they're looking for, there's a much better chance of a positive outcome for both parties – the lawyer and the client. We both want the same thing in the end: a mutually beneficial long-term business relationship.Following are the list to assist you in achieving your goal. Determine when you need to hire a lawyer This will differ for each client. In general, the sooner you establish this critical relationship and begin receiving good advice, the better off your business will be. However, good legal counsel does not come cheap. If you're just getting started, I'd recommend contacting business lawyers and asking what their rates are for basic services like an initial consultation or business formation. You can incorporate those figures into your budget as you raise funds to launch your business, whether it's a solo, bootstrapped operation or one seeking investment capital. Finally, hire a lawyer before you do anything that will land you in hot water. For example, if you're forming a partnership, signing a lease, accepting money from investors, or releasing a product that may expose you to liability, hiring a lawyer to protect your rights should be a top priority. Choose a law firm that is the right size for you Working with large firms, small firms, and solo practitioners all has advantages and disadvantages. If your company grows to be the next Facebook, Amazon, or Tesla, you'll probably need to hire large law firms on occasion – though by then, you'll also have your own in-house legal department. Startups and small businesses can sometimes – but not always – find themselves as a low priority for larger law firms. If the law firm makes its money by representing Fortune 500 companies, large government entities, and the like, it may be difficult for the firm to be responsive to the needs of each individual client. Another potential issue with working with a larger firm is not knowing who you'll be working with. Is your case going to be assigned to a new associate attorney fresh out of law school? Is that associate going to stay with the firm for the long haul, or will he leave just as you get used to working with him? Will your file be transferred from one office to another? Do you require the services of a lawyer in your city or state? This can vary depending on your specific requirements. Of course, it's wonderful to be able to meet in person on a regular basis. However, even with my local clients, I find that the vast majority of our interactions are conducted via phone and email rather than in person. If you live in a small town or a place where there aren't many lawyers, you might not have easy access to a local attorney with the necessary skills and experience. And that isn't always a problem. If your attorney is required to appear in court, he or she may have to live nearby, or at least in your state. However, for many business law needs, an attorney from another state may be able to assist you just as well. This means you can cast a wide net in order to find the best legal counsel for you. So, feel free to seek legal counsel outside of your geographic area, but be sure to inform them of your location and confirm that they will be able to handle the transactions you require.