Many business owners do not realize the importance of hiring a business attorney. An honest mistake can lead to financial ruin, and hiring a business attorney will help alleviate stress and ensure your business practices are legally sound, especially when you hire a good attorney Connecticut Tax Attorney. Hiring a business lawyer before making a mistake will help you to avoid lawsuits. They’ll also provide much needed legal help when your business is faced with bankruptcy, taxes, contracts, patents, and more legal issues that can be confusing.
It is an unfortunate fact that in 2008, over 650,000 small business declared bankruptcy or closed when only 627,000 new small businesses were able to begin operations. A business attorney will charge you much less money to keep your business out of trouble than they will if you’ve already let a problem occur.
Generally, a small firm will cost less. However, it may be worth the extra investment to hire a larger law firm. Larger law firms tend to be more specialized, and a solo practitioner may not have the business knowledge or experience to keep your business not just floating, but growing.
Whether you decide it is worth the extra protection to pay more for a larger firm, or choose a smaller firm, most will allow you to meet with them for a free consultation to discuss what they can do for your business and what costs will be associated. Remember, investing in a pricier lawyer may save you money in the long run. You can occasionally pay for a business attorney’s service fees through monthly payments (sometimes with interest), but usually lawyers charge an up-front cost.
Always make sure you understand when the flat fee is to be paid, and if it covers the lawyer’s out-of-pocket expenses (like mailing documents overnight and filing fees). It is smart to ask to hold back on paying about 10% or 20% of the up-front cost in case the lawyer fails to do the work satisfactorily. A good business lawyer will grasp how your business operates rapidly.