Getting The Right Legal Advice: How To Choose A Solicitor For My Business
If you run a business, there will be times when you’ll need legal advice.
You might need a solicitor to look over a contract or perhaps offer guidance about a potential merger, sale or acquisition.
In the worst-case scenario, you might encounter a potential legal problem with a third party. Hiring a solicitor could save considerable hassles further down the line.
So, what do you do when you need legal advice? How do you choose between your options?
What Do Solicitors Do?
First, let’s look at what business solicitors do and how they could help.
Here are some examples of the work they could do for you:
Business Structure/Company Formation
If you have the drive and enthusiasm to create your own business, the next things you need to consider are the practicalities and legal formalities of getting your business started.
You can structure your business in various ways, and each brings different legal obligations and protections. A solicitor will be able, possibly alongside your accountant, to provide advice on the best structure for your proposed business in the current circumstances, as well as provide practical assistance with the formation of the business (in the case of companies or partnerships) and the documentation of the same.
Mergers and Acquisitions
It may be that you decide over time that you do not wish to retain your business, or an opportunity comes along which is just too good to turn down.
Alternatively, you may be able to acquire another existing business (either to run alongside your existing business or to incorporate it). The acquisition or sale of a business, or the merger with another company, can be an exhilarating prospect.
The law relating to mergers and acquisitions is understandably complex. Just as every business is different, every transaction of this nature is different.
Solicitors can work with you to ensure that the process runs smoothly, is properly and fully documented, and any risks are minimised.
Company Disputes
If you’re in dispute with another company or a company is bringing a claim against your business, you’ll need a legal team who knows how to protect your interests.
Commercial Property Law
Whether you are a property developer, landlord or business tenant, commercial property is a significant investment that can generate attractive returns and help secure the future of your business.
The right solicitors can ensure commercial property deals go smoothly, putting in place all the proper measures to protect you legally and financially.
The above is not an exhaustive list by any means, and we can assist businesses with a wide variety of different issues and requirements.
Choosing The Right Solicitors For Your Business
So, how do you choose the right solicitor for your business?
We have put together some top tips to help you make that critical decision.
1. Begin with the end in mind
What are your objectives, fears, opportunities, and priorities?
If you have a clear idea of what you need from a solicitor – and ideally the desired outcomes from their help – you can have much more informed and productive discussions during initial enquiries.
In some cases, opportunities may present themselves where the best route to take is unclear. A good Solicitor can assist in these situations by providing guidance on possible solutions to achieve the desired goal.
2. Ask about their relevant, recent experience
Have the firm’s members worked with businesses similar to yours? Or do they have case studies that closely reflect your current situation?
Understanding a firm’s previous experience with other businesses is essential to decide whether they’re a good fit for you.
Also, can the Solicitor offer a complete service? Some Solicitors may only be prepared to act in certain types of cases, which is fine, provided your case doesn’t suddenly change.
Having to appoint a second, or replacement, Solicitor mid-way through a transaction can be costly both in terms of money and time.
3. What timescales do you want to work to?
Timescales are one of the biggest issues we see in business transactions.
Firstly, is any proposed timescale realistic?
Secondly, is there any deadline which must be met?
Thirdly, in some cases, matters have to be dealt with very urgently indeed.
In any of these situations, it is important to be clear with your Solicitor about your requirements (or the requirements of other parties) and secondly, whether the Solicitor has the ability to meet those requirements.
4. Communication
How do you like to communicate with a professional advisor?
Some people will prefer face-to-face meetings in person, others to communicate by phone call or e-mails. In most large cases, a combination of different types of communication may be used, but if you favour one or more types over others, is your Solicitor able to offer this?
Contact Bennett Griffin
At Bennett Griffin, we have a team of lawyers who have, between them, amassed considerable experience in advising businesses of all sizes, in all types of transactions and for clients in different fields.
If you are looking for a business solicitor to help with any legal issue – or some advice about future possibilities – our team will be happy to help.
In the first instance, please get in touch with either Nick Tompkin or Lauren Baillie for an informal chat and see if we would be a good fit.
For more information, call 01903 229999 or email info@bennett-griffin.co.uk