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When it comes to choosing a law firm, you likely already know that these types of organizations come in all shapes and sizes. While some of them operate mostly locally and are interested in forming stronger bonds with fewer clients, others have an army of lawyers at their disposal, and their operation may be stretched out over more than 5-6 states or provinces.
As a beginning business owner, striking your first deals and signing your first contracts, you may require a lot of advice regarding legal matters, particularly at the start. While not all new business owners agree with this statement, it may be extremely crucial for long term success to know exactly what type of legal support you can get.
The Most Common Legal issues Involved with Starting a Business
No matter what kind of business you want to start, in the beginning, you will require the assistance of a good lawyer or law firm, as you will definitely come across at least a few legal issues that cannot be ignored. These can include the following:
- You’ll need to decide upon the type of startup you want for your business. For instance, you might want to become a sole trader or establish a limited company. In each case, there are unique legal concerns that need to be addressed if you want the highest level of protection.
- Registering your company’s name and choosing your brand may also require the expertise of a reliable law firm. For example, you’ll have to find out whether or not other businesses have registered the same name.
- Contracts regarding employment, the purchase or distribution of goods, or those signed with other businesses and service providers all need the keen eye of an experienced attorney.
- Finally, an experienced law firm or attorney will be able to provide you with fresh insight on the laws that affect your business niche and industry.
Law Firms vs. Individual Practitioners
When it comes to deciding between a law company and a sole practitioner, you need to know the differences between the services they provide and how these would affect your new business.
First of all, individual lawyers, who operate without working for a company, maybe perfect for regular individuals who need an attorney’s advice and representation in various legal matters. They can provide a more direct and less formal one-on-one working relationship, and any disputes that their clients may have with them can more quickly be resolved.
On the other hand, a law firm can offer better coverage and a more professional approach when it comes to dealing with specific practice areas, as well as more knowledge and experience in matters involving business endeavors. Also, these companies generally have a far better reputation than individual practitioners, especially when they’ve already been around for a while.
How Can a Small Law Firm Help You?
Now, it’s no secret that larger law companies are often stretched thin, and the resources they can provide you with may lack the one-on-one closeness associated with individual lawyers; but what about smaller firms?
A small law office can generally be described as a company with only about 2 to 10 lawyers that usually target smaller areas better than large or medium-sized law firms, while also offering many of the benefits that an individual practitioner would provide, as well as much more:
- You’ll get coverage for a broader range of legal matters, often comparable with that of a medium-sized company, but with improved personal attention.
- Also, a small firm will provide you with lower fees similar to those that individual practitioners ask for.
- You can benefit from the knowledge and resources of several reputable lawyers who will solve your problems more quickly.
- Unlike individual practitioners, small law firms can take on larger cases, and you can benefit from their full support even if you do have to face legal issues right from the start of your business activities.
Some may disregard the importance of a smaller law firm, but the fact is that even though large companies may offer better coverage of a wider variety of practice areas and an individual attorney can provide you with a more personalized approach, none of them can get close to providing all the necessary benefits that a new business would require.