Commercial lawyers in London – Driving businesses successful in rough waters.

by Hudson Mckenzie Lawyers and Solicitors who understand you

In any business there are two areas that hold the nerve of all functions – accounting and legal. The reason behind the hiring of an accountant is quite obvious--you need an accounting expert to help you set up your "chart of accounts," analyze your numbers often, and prepare all of your important federal, state and local tax returns. The reason for hiring a business attorney may not, however, be so ostensible. An experienced business attorney will provide important assistance in almost every facet of your business, from elementary zoning compliance and copyright and trademark advice to general business incorporation and lawsuits and liability. Let’s get to know some general rules about dealing with commercial lawyers in London.

In case of suing, it gets too late – A majority of small businesses stop hiring a lawyer until the police is standing at the door serving them with a summons. It’s a grave mistake. The time to hook up with a good business lawyer is before things started turning worse. Once you have been served with a summons and complaint, it's too late--the problem has already affected, and it's just a question of how much you will have to pay (in court costs, attorneys' fees, settlements and other expenses) to get the problem cleared.

Big firm or smaller firm – In general, the larger the law firm, the greater the burden, therefore the higher the hourly rates one is meant to pay. Still, larger firms have various benefits over smaller ones. Over the past 20 years, lawyers have become tremendously focused. If you rely on a solo practitioner or small firm as your lawyer(s), it's possible that they will not have all the skills you may require to grow your business. I don't know of any solo practitioner, and very few small firms (under 10 lawyers) that could handle your lawsuits, negotiate your lease of office or retail space, file a patent or trademark, draft a software license agreement, advise you on terminating a disruptive employee, and oversee your corporate annual meeting. Sooner or later, these "generalists" will have to refer you out to specialists, and you will find yourself dealing with two or three (or even more) attorneys.

While bigger firms are dearer to deal with, they have two major advantages: 1) they generally have all the legal skills you need "under one roof," and 2) they have a lot of clout in the local, regional and (perhaps) national legal landscape. A horrible letter from a "powerhouse" law firm with offices in 30 states is a lot more dangerous than a nasty letter from a solo practitioner who is not known to practice in the defendant's state. In addition, being linked with a large, well-established law firm may have imperceptible advantages--they may be willing to introduce you to financing foundations or use their name as a reference when getting into partnership arrangements. Definitely if you manage a fast-growing entrepreneurial company that wishes to go public (or sell out to a big company) in near future, you would need to work with lawyers whose names are documented in the investment banking and venture capital communities.