Many business owners only call a lawyer once a legal problem arises. However, involving a lawyer early may save you considerable time, expense, and stress.
Legal experts have valuable insights into your long-term goals and help you nip minor problems. These interactions can also strengthen your relationship with your attorney.
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Legal Advice
Legal information can be imparted by anyone who knows the law, but legal advice requires more than just reiterating what the law says. Legal advice regarding specific circumstances is more detailed and can only be provided by an attorney at Linden Law Partners.
It is essential to seek legal advice for all business-related issues as they can be very complex. Your attorney will have the education and experience to untangle your legal issues so that you can make informed decisions about your business and plans.
Many laws and a lack of knowledge in these areas can lead to expensive legal penalties. Having your legal team by your side can prevent these costly mistakes. Legal advisors can also help you avoid pitfalls by ensuring your contracts comply with all relevant laws and protecting your assets through corporate shielding. This is particularly important for small business owners who may need to become more familiar with the legal ramifications of their actions.
Peace of Mind
Many things are taking up your time and energy as a business owner, so it’s no wonder you don’t want to add legal issues to your list. However, ignoring legal matters can have devastating effects on your company.
A legal expert can process complex and often contradictory information and form convincing arguments. They can do this because of the large stock of tacit knowledge they have gained in their academic education and by solving countless cases during their practice.
Research shows that professional expertise can override cognitive, emotional, and physiological biases in decision-making. However, more research is needed to understand the underlying mechanisms of this effect better.
Timely Representation
As a business owner, you have a lot on your plate. You may be tempted to postpone hiring a lawyer until a crisis strikes, but this can lead to more costly outcomes in the long run. An attorney can help you identify issues and take steps to avoid litigation.
In addition, the law firm you choose should be responsive to your inquiries. Attorneys are expected to be busy during the trial, but the right attorney should clarify when they can return your calls and provide updates on your case.
Finally, the right law firm should have all the legal skills your business needs under one roof. Choosing a large firm can be more expensive than choosing a solo practitioner. Still, they have the added benefit of being able to introduce you to financing sources and may have more clout in the local and national legal community.
Added Value
Law departments need to demonstrate the value they generate for the business. This requires a multiprong approach that generates critical performance indicators (KPIs) on items the business wants to see, like legal spending discipline, contract completion, and litigation success.
Moreover, gathering and analyzing relevant data is a powerful new tool for the legal function that can lead to efficiency gains, faster strategy formulation, and better outcomes. Legal expertise in using material data can replace speculation and conjecture with science-based foresight and insight that drives enterprise value.
Another critical piece of the puzzle is that lawyers need to understand and speak the language of business. That means building excellent writing and public speaking skills, attending conferences and seminars, and seeking mentors. Moreover, it means developing the ability to communicate complex concepts in simple terms and being willing to embrace the fact that many employees will not be as familiar with legal terminology as they are.
