If not today, then tomorrow, you’ll need a business lawyer who can help you with contracts, business formation, SOWs and more. Even though there are hundreds of business lawyers in Canada, it’s not safe to conclude that anyone can do the job for you.
A perfect business lawyer is the one who wants the same things as you: a mutually beneficial relationship that’s based on long-term growth and success. But how do you find the one?
Here are some tips that’ll lead you to your perfect business lawyer in Canada.
Business Needs vs. Wants
Nothing in life is free, especially not legal services. But everyone needs a professional on board who can help them manoeuvre through the iffy legalities. Determining when to do this depends on your business, goals, and current needs.
If you’re just starting with your business, it’ll be a great idea to begin by contacting an experienced business lawyer. When you do, ask them about their range of services, how much they charge, and the difference between their basic and in-depth services. This will help you decide which service you need (basic or in-depth) and whether they fit your budget or not.
Focus On the Type of Lawyer You Need
Business lawyers can handle all your formation needs and much more, such as incorporating your business or helping you draft contracts. If you’re looking to trademark your business or need clarification on some tax laws, then look for lawyers who focus on these areas.
However, if you need a long-term lawyer who can provide general business counselling, draft common business contracts, form partnership agreements, and handle all other legal matters for your firm, then look for a business lawyer who specializes in these areas.
Finding a Business Lawyer Who Understands Your Market or Niche
As we mentioned previously, not any good business lawyer can do the job for you. You need someone familiar with the market you work in, who understands your niche and how your business works. If not, there’ll be many communication and understanding challenges and gaps that might affect your business and legal matters.
For example, the pharma industry works under high regulations and rules that your business lawyer must be familiar with. If not, you’re open to multiple lawsuits and threats from others in the industry.
Picking a Business Lawyer from the Right Law Firm Size
You’ll find law firms of many sizes; big, small and even solo practitioners. It’s essential to match the size of your firm with the right size of the law firm. If you’re running a big and well-established business, you need the services of a law firm whose lawyers have the time, resources, and expertise to deal with your issues.
However, if you’ve just started your business and it’s quite small with minimum legal matters, a small law firm or a solo practitioner will do. Getting a large firm onboard would be very expensive, and you won’t have enough services to avail for the price you’ll be paying.
Moreover, many small businesses complain about not getting the proper attention from their law firm. They’re making double the money by representing Fortune 500 companies, government entities, and other such businesses.
City vs. Province: Where Do You Need Your Lawyer?
This is one question that confuses many since the answer depends on your specific needs. While it’s great to have the option to meet with your lawyer regularly face-to-face, it’s okay even if you don’t. Due to the COVID-19 pandemic, most industries worked remotely, including legal affairs. But this didn’t affect the quality of their services.
Those who live in small towns or cities don’t have many good lawyers to choose from. But if your work can be done over video or telephone, you should go ahead and hire a remote business lawyer. But if you need them to physically come in every now and then, it’s only justified to hire someone from your city.
Being Comfortable with the Fee Structure
You might be getting the best legal service in the entire country, but if you have to pay a sizeable amount for their services that affects other expenses, is it really worth it? Being comfortable with the fee structure of your business lawyer is crucial since it can affect your long-term relationship.
You might put up with their extensive fee for a month or two, maybe even a year, but you will give up at one point. The best way to go about it is to hire a monthly billing lawyer if you have a lot of use. But for those who might require legal assistance once in a while, an hourly billing lawyer will be great.
What To Do If Your Current Business Lawyer Doesn’t Meet The Criteria Mentioned Above?
Remember, you want to invest in a long-term relationship with your business lawyer, but it’s not a “till death do us part” situation. If you’re not satisfied with your current business lawyer or have noticed a dip in their performance, you can always switch to someone better, such as Nanda & Associate Lawyers.
We are an iTrust Qualified Mississauga-based law firm that provides tailored and customized legal solutions for people in Canada. Whether you need a work permit lawyer or an immigration lawyer for your employee, our team of experienced lawyers can do it all.
Contact us now to learn more.
About the Author
James R. is one of Canada’s leading and most prominent business lawyers. After pursuing a Master of Laws (LLM) from the University of Toronto, James started his law firm in Canada. He now offers legal assistance or large and small firms across Canada.