Entrepreneurs and small business owners often ask me when they should use an attorney. Business owners are often successful because they are frugal, so it follows that they would be especially cautious when hiring a lawyer.
For a small business, it is important to keep overhead low; this includes legal fees.
However, preventing problems is often much cheaper than addressing them, so a little good legal advice early on can help avoid major problems.
When to Hire a Minnesota Business Attorney
In general, I recommend that small business owners uses an attorney at a few key times:
- when they form their business — to ensure the business begins in compliance with the law
- when they enter into contracts (franchise agreement, sales agreement, lease, etc.) — to ensure their rights are protected
- when they have problems — to determine their legal rights and options
- when they have questions — successful business owners will encounter issues as they grow, so it is nice to have a business attorney on hand
Examples of Minnesota Small Business Problems Requiring an Attorney
Has your business ever encountered any of these questions?
- Is an employee threatening to sue you?
- Are you unsuccessful in collecting money from customers?
- Do you have a contract dispute with a vendor?
- Do you have questions regarding your office lease?
- Are you buying a business?
- Do you know the advantages of being an LLC?
- Are you thinking of taking in a new partner?
These are a few examples of a few of the issues that can come up for small business owners.
Small Business Attorney Fee Options
Small business owners have a few options when hiring a business attorney in our firm:
- Hourly fee
- Flat fee for a specific task (like forming a business or registering a trademark)
- Monthly flat fee
If you are ready to start a business, or if you already own a small business, you are welcome to sit down with a business attorney to discuss your questions and analyze your business legal issues. Small business owners can choose between hiring the attorney for an hour meeting, a flat fee for a specific project, or establish a flat fee monthly retainer to have an attorney on call. Please note that not all law firms offer these options.