Minnesota citizens getting ready to take the plunge into entrepreneurship have many questions about getting started. Due to the nature of increased legal activity in the last decade, one feasible question that you might have is whether or not you need to hire an attorney for your business. While every business is different from the next, the answer is typically no.
Put things into perspective
While it can be nice to have someone on retainer to help with the intricacies of business and commercial law, there needs to be a consistent demand for them. When you’re first starting out, you’ll need legal expertise for things like privacy policies, trademarks, client contracts and non-disclosure agreements. However, it’s unlikely that you’re going to need to consult an attorney each day.
For this reason, it’s not really advisable to hire an attorney right off the bat or keep one on permanent retainer. Rather, it’s best to outsource your legal needs to an experienced attorney. When you outsource your needs, you only pay for the specific tasks the attorney performs. This is a much more economical way to go.
Tips for finding a good lawyer
As with outsourcing any aspect of your enterprise, it’s important to conduct some research to ensure that you’re doing business with a trustworthy person. When deciding on a lawyer to hire, it’s a good idea to check what their credentials are. Make sure that they went to law school and they do hold a license to practice law in your state. To ensure that you’re able to work together, you should have an initial consultation with anyone you’re thinking about engaging.
As you start your journey as an entrepreneur, you’re going to have to face a lot of questions along the way. One of the biggest ones is if you need to have a lawyer on staff or on retainer to help ensure the financial security of your business. The reality is that most companies can simply outsource their legal tasks in the beginning.