If you and your business are seeking legal representation, you are going to want to find out about the attorney and law firm you are considering retaining. This involves having one or more meetings at which you will need to find out as much as possible about the firm. This is to make sure that you are hiring the right one based on experience, expertise, and specialty areas. As you may imagine, it is rare to find a business attorney with the ability to help every potential client. Moreover, you are going to want to see if your personal styles mesh, and if the fees and fee structure fit your cash flows and budget. This is why it is essential to ask the following questions before hiring a business attorney.
1. Have You Represented Companies Like Mine Before?
This is an important question, since not every industry has the same focus and needs. If you are hiring an attorney for a merger or acquisition, you will want to find out if he or she has ever handled a transaction that is similar to yours. The last thing you want to do is to pay for your lawyer to learn on your case. Similarly, if you are hiring a lawyer for commercial litigation, it is vital to find out if their firm has handled cases like the one you are involved in. For example, intellectual property cases have a great deal of statutory precedent that requires an experienced hand to provide the right guidance.
2. How Would You Approach My Case?
Some attorneys are more confrontational than others. You will find that some lawyers will advise a conciliatory approach, looking to settle, while others take a hardline. Before you ask this question, you should consider how you would like to approach the transaction or litigation yourself. This will help you decide if the firm has the right philosophy for you.
3. Who Will be Handling My Case?
This is especially vital to know if you are talking to a bigger firm. While you may be talking with a lead partner in the business law department, you may find out later that a young associate attorney or a paralegal is doing the majority of the work. You should find this out upfront, since complex transactions and litigation often require the help of an experienced lawyer.
4. What is Your Firm’s Success Rate?
Just like any business, a law firm keeps track of its successful representations. For transactions, this may measure the number of deals that closed. With respect to litigation, success can be measured by verdicts for cases that went to trial, and settlements for cases that did not. One thing you may want to ask if you are the plaintiff in a lawsuit is the dollar amount of awards, as well as the amounts actually collected on behalf of clients.
5. How Do You Communicate with Clients?
Each client has his or her own needs. Some are fine with the occasional text or email, while others want a great deal of hand-holding, with the attorney giving frequent calls and meetings to update the client on the status of the matter. So, this all comes down to your own personal needs. If you are someone who doesn’t need to be updated, then a firm that simply sends an occasional email will be fine. This is a crucial point since it deals with your personality and that of the attorney you may be retaining to represent you.
6. What are Your Billing Rates and How are They Calculated?
Most firms bill on an hourly basis with the amount dependent upon the level of the attorney who is working on the transaction or case. However, in some situations, a firm may offer a flat rate for a transaction, or a contingent fee for a lawsuit. They may even request a success fee if they win a case for your company. You will need to know this in order to set a budget for the matter.
In addition, you should find out how often the firm bills, and the retainer amount that is requested. While most firms send bills on a monthly basis, you may get the firm to agree to another basis, such as quarterly payments or payment at the conclusion of the matter.
7. Have You Ever Had any Disciplinary Problems?
While this may be an uncomfortable area to discuss, you want to make sure that you are dealing with a reputable law firm. Similarly, you may want to find out if there are any clients who can recommend the firm, and whether former clients have ever sued the firm.
Contact a Pennsylvania Business Attorney Today
Retaining a business attorney involves building a relationship with the lawyer and firm your business will be hiring. At Jones Gregg Creehan & Gerace, our experienced business attorneys will provide you and your company with the representation you need for your transaction or lawsuit. Contact us today for a consultation.