Tips for Saving Money On Attorney Fees

Every business needs the help of an attorney, to help avoid problems and deal with those that pop up in the course of business. But some business owners are afraid to talk to their attorney, because they are concerned about running up big legal bills. Other business people spend too much money on attorney fees. Consider the kinds of situations when you will need an attorney. For example:

• When you are starting a business and creating your business structure
  
• When you need to end a business
  
• When you want to create a contract or for dealing with contract issues
  
• When creating an employee handbook and dealing with employee issues
  
• When you want to file a patent or trademark
  
• When dealing with income tax or tax court issues (not related to accounting issues)

In other words, you call an attorney before the fact to help you set up some business matter in the correct legal form, or after the fact, to be sure you are not going to be making a mistake. So how do you know when to pick up the phone and call that attorney? How can you use an attorney wisely to avoid huge legal fees?

• First, select a law firm that has attorneys who can deal with different business issues. Some attorneys are good with contracts, others with intellectual property issues, others with employment issues. This will give your personal attorney more resources to help you. If you talk to an attorney who says he or she can do everything, we wary. Like other professionals, attorneys are better at some types of law than others. You want the best person for each circumstance and area.
  
• Then, select an attorney who is a specialist in your type of business. For example, if you are opening a construction business, look for an attorney who has worked with other contractors; if you want to open a health care practice, look for someone with expertise in health care law. Ask others in your field who they choose. This will make it easier to know that you will receive specific advice that will help you make decisions and avoid problems.
  
• Select an attorney who is able to practice in all the states where you do business, or who has colleagues who can practice in all states. If you live and work in Missouri, for example, but you have stores in other states, you will need an attorney who is licensed in all those states. It will be more costly in time and money for you to search for an attorney in another state.
  
• Select an attorney you feel comfortable talking with, but not too comfortable. It is good to have a friendly relationship with your attorney, but remember that the clock is always ticking. Calling to chat about your business issues will result in a bill for that time; I guarantee it.
  
• During the introductory period, talk to your attorney about when and how you should call. Most attorneys will let you know how they work, and each one works differently. If you aren't comfortable with how that person works, it's best to find someone else.
  
• Talk about a retainer arrangement, in which you pay a set amount each month for all legal work.
  
• Before you call, get your facts together and have a specific question that you need answered. If you are prepared, your conversation will be shorter and more productive.
  
• If you are calling about an emerging issue (with an employee, for example), spend time preparing a timeline and a brief history of the incident. This preparation will save time and shorten the time you need to spend bringing your attorney "up to speed."
  
• Before you present a contract to an attorney, do as much work as possible to reach agreement with the other party and put that agreement in writing. Having your attorney review a completed contract is much less costly than having the attorney write and re-write the contract multiple times.