No, Don't Kill All the Lawyers; Hire the Right One_Part 2

Good Lawyers Supporting Your Business Are Critical. I say this not because I'm a lawyer, but because I have seen the critical role they play at almost every turn in a company’s development. I'm like any other business owner in not liking attorney’s fees - now up to $1,000 to $1,500 per hour for the best lawyers - but I see the benefit in spades, time and time again. Conversely, I have seen literally thousands of situations where the failure to employ good counsel has cost a business owner a lot of money, far more than what good lawyering would have cost. These are classic cases of penny wise, pound foolish. The benefits of good counsel include:

·      Legal compliance and risk mitigation - where no business is without these concerns, to some meaningful degree.

·      Strategic business structuring - where most businesspeople have little conception of the implications of most structuring decisions.

·      Contract management - where contracts govern the business in a plethora of ways.

·      Intellectual property protection - which few business owners and CEOs truly comprehend.

·      Dispute resolution - where a skilled intermediary is essential to work against escalation. 

·      Employment law compliance - where every decision could risk a major lawsuit.

·      Real estate and property matters - where most laypeople are in foreign territory.

·      Ongoing legal education - where you can anticipate new risks as they arise.

·      Time and resource savings - where they can do their work while you run your business.

·      Enhanced credibility and negotiating power - where the better advisor usually yields the better result.

GROW and SELL Advisors, wholly-owned by Traversi & Co., LLC, is a premier sell-side M&A advisory firm – a boutique investment bank – serving the lower middle market.  Visit us here.

For a short video clip on this topic, click here.