Why You Need A Lawyer For Your PA Business
It’s no secret that no business exists in a vacuum, no matter how unique or marketable you believe your product or service to be. The fact is that your business is part of a much more complex picture than you might be aware of. In fact, every single business in Pennsylvania is subject to a litany of regulations and legal standards that make it all but impossible to navigate operations legally without the help of experienced legal counsel.
The fact is that knowing what your business is facing when it comes to regulation is important. For example, each state sets its own laws with respect to how businesses can advertise their services as well as their standard practices for conducting business in a given industry . Without the help of an experienced Pennsylvania business lawyer, there’s simply no way to ensure that your business is compliant with industry standards.
For this reason, your business needs a lawyer who understands the state of Pennsylvania and its unique legal landscape. Not only do businesses need to be both proactive and responsive to a series of potential legal concerns, but they need to be able to keep up with emerging laws and regulations that might impact how they conduct business in the future. Unfortunately, keeping up with the law isn’t enough; in order to effectively maintain your business in the face of lawsuits, regulatory challenges, and other potential legal action, you must be proactive in responding to both the law of the state and its application to everyday business practices.
What To Consider When Choosing PA Business Lawyers
When searching for a lawyer to represent a business, it is important to not only find one who is familiar with the specific needs of your business, but also one who has the experience necessary to help your company succeed. It should go without saying that all prospective lawyers should be licensed to practice in Pennsylvania.
While there are some lawyers who dabble in business law — and it is certainly possible that at least some of these lawyers are quite capable — it is almost always better to seek out lawyers who specialize in business law. This is especially true if your business requires services outside the realm of contract law, such as employment agreements or the like. Lawyers who specialize in business law are far more likely to have experience in the nuanced laws that govern Pennsylvania businesses.
It is invariably a good idea to focus on lawyers who have plenty of experience in representing businesses like yours. The track record of a particular lawyer provides you with a good idea of their aptitude, as well as their approach to the law. One of the most effective ways to determine this is to speak directly with other clients, but you could also find out from a state bar association whether a given lawyer has ever faced any disciplinary action.
A lawyer’s track record is essential, but it is equally vital to ensure that the lawyer in question has earned a positive reputation among their peers. A lawyer’s reputation goes a long way toward conveying their general character, especially as it relates to clients. Furthermore, an experienced lawyer with a bad reputation among fellow lawyers is likely to have earned this reputation for good reason. Thus, while it is always advisable to take the time to research a lawyer’s past, it is just as critical to pay attention to what others have to say about their services.
Typical Legal Services For Businesses In PA
When you own a Pennsylvania business, it’s critical that you hire the right legal counsel – someone who not only knows the ins and outs of Pennsylvania law, and the laws surrounding businesses in general, but also how to provide you with sound legal advice that will keep the organization compliant and protected against potential legal disputes Down the line. From drafting up standard purchase and sale agreements to expanding your business into other markets, you’ll need to partner with a lawyer in order to navigate through legal regulations. Below are just some of the common legal services that business owners can expect from Pennsylvania business attorneys: Purchase and Sale Agreements: Whether you’re selling an individual product or an entire company, you’re going to need to draft up standard purchase and sale agreements that outline the terms of the sale, and what you expect from the buyer. Standard contract terms can include the like the closing date, sale price, deposit amount, number of shares, purchase order payout terms, payment terms and other details that are unique to the situation. From the start to the closing date, your legal counsel will work on your behalf to negotiate and protect your interests within the contract, from drafting the initial terms to executing the final contract. Dispute Resolution: No matter how well organized you get your business, disputes will often arise between your business and another party – whether that’s a vendor or supplier, another business or the government. These disputes can end up disrupting your operations if you’re unable to resolve them in an efficient manner. As a business owner, your priority is to ensure efficiency and profitability at all times, which means you don’t have the time to spend to work out disputes outside of the business. Your attorney will step in and manage the dispute resolution process on your behalf, whether that’s negotiating with the other party, working within the court systems or otherwise. Employment Law Advice: When you’re running a business, you’re obligated to follow employment laws that affect everything from hiring and firing employees to accommodation requirements, paid time off and compensation. Your attorney will likely work with you to draft offer letters and employment contracts that outline the job parameters and compensation, while also ensuring that the business is in compliance with federal, state and local employment laws and regulation. They’ll also be available to guide you through disputes and claims that come up on employment matters. Compliance Checks: All businesses have to comply with certain laws, regulations, ordinances and licensing requirements in their particular areas of operation. Failing to remain up to date on these laws can lead to unwanted litigation or fines, so it’s vital that you complete routine compliance checks through consultation with your attorney. In addition to checking up on regulatory compliance, these routine checks give your legal team the chance to get ahead of upcoming changes and better prepare your business for the future. Management and strategic planning sessions are often held during compliance checks to ensure that the business remains proactive in the eyes of the law.
How Your Business Can Benefit From Legal Counsel
Your legal counsel can play a vital role in helping your business get ahead. Long before your business is ready to scale or attract investors, you have to have the right legal framework in place.
Legal counsel can help you put in place the appropriate contracts to ensure the various parties, stakeholders, and workers are all on the same page. As you grow your business, legal counsel will help you structure your investments, and secure financing from private equity or venture capital firms.
Your legal counsel will also need to provide you with strategic advice to ensure you remain competitive and compliant with applicable laws. By informing you of best practices in your industry , and providing you with information on recent developments in case law, they can help you stay ahead of the curve.
Your business’ assets are at risk every day, and you will need to rely on your lawyer to advise you on the best ways to protect your intellectual property, and ensure all your work is legally safeguarded. When you do not have the right legal counsel, some issues can slip through the cracks. This can lead to disputes with other businesses in your industry, bringing your development to a halt.
Choosing Between Law Firms And Solo Lawyers
Choosing Between Law Firms or Solo Practitioners As Your Business Counsel in Pennsylvania
When seeking business legal counsel/representation, there are essentially two categories of licensed lawyers in Pennsylvania which can be chosen from to represent your interest, a law firm or an individual solo practitioner. Each has their pros and cons. Solo practitioners are one lawyer practices that often creates a very personable relationship between the client and the attorney. With only one attorney in play it is likely that you will always have access to your lawyer as he/she will not be in a situation where he/she is generally busy with other client matters. On the administrative side, a solo practice is likely to have much lower overhead expenses such as rent, salaries, and benefits which may lower your ultimate costs in the end. In practical terms this means you can receive first rate legal advice and representation for relatively lower fees than you may otherwise pay to a law firm for the same services. Solo practitioners are often generalists or semi-generalists, meaning they have knowledge and experience in a wide range of legal issues but do not necessarily position themselves as "experts" in one particular area of the law. On the downside, a solo practice may not have all the resources a law firm may have. A small firm may have a few more lawyers and some additional staff who may assist on file matters. A solo practitioner, an administrative assistant, or paralegal, may handle all the paperwork on your matters. Also, if your situation/case is complex and needs powers beyond just legal advice, such as accounting, management and hiring/firing employees, etc., a solo practitioner may be at a disadvantage without the capability or expertise to handle all of those issues. A firm or small firm will almost certainly have other attorneys and support staff to help on the matter. Businesses frequently prefer a multi-disciplinary approach to address all types of legal issues. In addition, firms often have a wide range of expertise and can provide for a more "full service" approach when multiple legal issues arise. In simple terms, you can "one stop shop" for all your legal needs. As an alternative, large firms may specialize, which may be useful for a specialized legal need that needs expert knowledge in a particular field. Finally, a larger firm or small firm with multiple attorneys may have more forces available to handle complex legal issues, especially those in which its important to have multiple lawyers monitoring a matter. On the flip side, large or small firms typically have higher overhead costs which is passed on to their clients. In simple terms, it costs more to operate a large business to sell a service and firms, or at least fee generating attorneys, are expected to generate income to cover that cost. If that doesn’t happen, it may result in lowering someone’s salary to ensure the business runs at a profit. In this way, larger firms are structured to thrive on a much higher level of paid billable hours from multiple clients per week than a small firm or solo practitioner. As a result, a firm may not be as accessible to you, particularly if the attorneys already have a significant workload. In many cases, large firms are also more strict about billing which may not be present at a smaller firm or solo practitioner.
The Cost Of Legal Services In PA
When it comes to retaining legal counsel to assist your company in continuing its operations smoothly, you should be aware of a few cost considerations that can impact your bottom line. The fee structures that attorneys employ can vary widely from one to another and among the types of services. For instance, some attorneys provide pro bono legal services, while others charge a flat fee or bill their clients by the hour. Broadly speaking, however, attorneys typically base their fees on the following factors: Flat Fees. Flat fees are generally charged only for particular tasks, such as drafting a will or preparing an operating agreement for your business. Retail legal service companies, such as Rocket Lawyer, LegalZoom, or CLIO, have created a niche in this market. Hourly Billing. Charging by the hour means exactly what it says. You will be billed for every incremental , 6-minute period spent working on your case or matter. This is the most common method of billing used by attorneys. Monthly Retainers. Some attorneys require retainer fees. When you retain the services of an attorney, he or she may require an upfront retainer, an amount held in an escrow account against which fees and expenses will be deducted. Negotiating Retainers. A retainer fee is often negotiable, especially for business clients. If the client enjoys a long-term relationship with his or her legal counsel, the retainer may be waived altogether. Contingency Fees. In a contingency fee arrangement, the attorney agrees to represent you at no upfront cost to you. The lawyer is paid a percentage of whatever the client is paid in a settlement or verdict. Investing in good legal counsel is an important part of sound business. As with other important matters, it is wise to choose legal counsel carefully.