If you are planning to hire a corporate lawyer, you will find that there are many to choose from. And if you’re thinking it doesn’t matter which one you select, you are mistaken. The decision to hire a corporate lawyer requires careful consideration as you will need the right lawyer on your side for your business to thrive.
So, what should you look for when hiring a corporate lawyer?
You must consider experience when searching for a lawyer. When you hire a corporate lawyer, it is their responsibility to ensure that your business interests and legal rights are protected. A corporate lawyer is also there to help you negotiate contracts and business agreements.
If a lawyer is inexperienced, it may affect their ability to represent your business effectively or successfully handle complicated legal issues. It is helpful to not only ask about the lawyer’s experience but their clientele as well.
You should try to find a corporate lawyer with existing clients who operate businesses in the same industry. A lawyer who has represented similar businesses will more likely understand your operations and can offer sound legal advice for your specific issues.
It is important that you like the corporate lawyer you choose. Your lawyer is not only there to protect your business interests but also to ease any anxiety that may come when legal problems are affecting your business. It may be difficult for your lawyer to do so if you do not get along.
4. Communication and availability
Depending on the purpose for which you are hiring a corporate lawyer, you may need someone for a short time or long-term. If you need long-term legal services, ensure you ask about the lawyer’s availability.
5. Track record
Before you even schedule an appointment to meet with a lawyer, do an online search to see what people have to say about the lawyer’s work. In addition to client reviews, search for the lawyer in the database of the Law Society in your province. The Law Society database will show if the lawyer is currently licenced to practise, whether there are any practice restrictions or ongoing regulatory proceedings and any history of disciplinary actions.
6. Fee Structure
It is important that you understand how a lawyer will charge before you hire them. A reputable lawyer should provide you with a clear outline of the work they agree to do for your business as well as the amount and how they will charge for those services.
If a lawyer uses a fixed fee, they will charge a set amount for their services. Fixed fees are usually used for specific tasks such as drafting or reviewing a contract. On the other hand, an hourly rate means you will be charged for the time the lawyer spends on matters relating to your business. If a corporate lawyer charges a retainer, you will pay an upfront fee for legal services. Whenever your lawyer incurs a cost in your legal matters or needs to collect legal fees, they will be paid from the retainer. This retainer will need to be replenished once it is depleted.
In addition to legal fees, your bill will include government taxes and in some cases disbursements. On a legal bill, disbursements cover expenses your lawyer incurred on your behalf such as registry filing fees.
Are you looking for a Toronto corporate lawyer?
If you are looking for an experienced corporate lawyer in Toronto, contact us at Samuel Osei Law Corporation. At Samuel Osei Law Corporation we provide various legal services for our corporate clients who range from sole proprietors to publicly listed companies. These services include legal advice, contract drafting and review, and litigation.