Whether you have a new business or an existing one, you are likely to require the assistance of a business solicitor from time to time. There will inevitably be rules and regulations or transactions that will benefit from the input of an experienced solicitor to make sure your business is protected and that you get the best deal.
It is in the interests of your business to build a strong and lasting relationship with your business solicitor so that you know, whatever happens, you will have somebody on your side who understands your business’s needs and can act promptly to get the results you want.
This can be a very personal choice. Many elements may go into forming that unique relationship. Depending on your circumstances, some factors will be more important to your business than others, but some to consider are:
This needs to be dealt with openly and up front. Most solicitors will work on an hourly rate. However, the fact that one solicitor’s hourly rate is more than another’s does not necessarily mean that they will be more expensive. They may have greater expertise and experience enabling them to accomplish tasks in a shorter time, resulting in an overall lower cost. Therefore it is important at the outset to discuss with your business solicitor your aims and objectives for the project and for the business solicitor to scope out what legal work is required so that the total cost can be ascertained. Do not accept a blanket hourly rate without an estimate of time.
Clear, concise and timely communication is a vital element of the business/solicitor relationship. You need to be confident that your business solicitor will respond to telephone calls and emails promptly. They should keep you up to date with developments as they arise and generally take a leading role in moving your transaction on.
Fundamentally, your business needs to be able to communicate with your business solicitor without misunderstanding. This means that they should have the ability to communicate effectively at all levels should they need to interact with different people within your business. With this in mind, whilst every solicitor should exercise confidentiality, you may also be looking for a solicitor that acts with tact and diplomacy.
Ideally you need a solicitor who has experience dealing with businesses like your own. Having dealt with similar situations or transactions your solicitor will be able to avoid potential problems and pitfalls that may cause less experienced solicitors to stumble.
Do they fit your business?
This is perhaps the most important but most intangible element. Is their skill set and experience suitable for your business? Do they have a genuine interest in your business? Do you like them? Do you trust them? And ultimately, are they going to help you get things done?
At Gard & Co. our business law team comprises experienced, specialist solicitors. We offer a free initial consultation to explore your business issues, to let you know how we can assist and to establish what the costs are likely to be. This gives us a chance to get to know each other and lets you know your financial commitment before you instruct us.
Our approach is to establish a close working relationship with you so that we fully understand the needs of your business. This enables us to analyse the risk and commercial impact of any nuance within a negotiation so we can always achieve the best outcome for you and deliver your legal project on time and on budget.