Regardless of the industry, managing a new business is a process that requires the ability to find opportunities with a limited number of resources. If you’re an entrepreneur, you think about perfecting your vision, securing and managing funds, and building a team. You also think about marketing and selling (along with executing a plan) while navigating unexpected obstacles.

The success of your company will depend on whether your team has the right skills and experience. It also depends on whether you have enough support to keep that momentum going. This support usually comes from advisors, industry experts, professional consultants, and investors. It can even come from a good business attorney because you’ll need to protect yourself from legal liability, debts, and unwanted legal action
Here are some of the reasons why every startup should speak to a business lawyer.
#1: Risk Management
If your initial contact with a business lawyer is for the purpose of mitigating c certain risks, then you’re not alone. In fact, risk management is where the value of an attorney’s contribution to your startup will be the most useful. But the business lawyer you hire must be able to identify, analyze, and recommend certain steps that will eliminate (or at least mitigate) these risks.
If your startup is strongly data driven, your business lawyer should be able to understand the proper legal and regulatory framework for collecting, storing, using, and selling of certain forms of data. This person must also understand any of the related risks and remedies that can be used to avoid them. There are many ways to manage risk, but they need to be identified before they can be addressed.
#2: Partnership
Whether you work with an individual attorney or a law firm, you should expect your legal counsel to be an engaged member of your team. Your business attorney should be ready to support your business with creative and flexible business practices. Some of them can include the following:
- Offering alternative fee arrangements (such as a discounted hourly rate or a fixed fee for every project).
- Estimating legal fees before getting to work.
- Deferring collection until your startup is earning a certain amount of revenue or has enough capital.
If the attorney is willing to accept these kinds of deals, it shows that he or she is “on your side” by supporting your financial goals. A lawyer who thinks like a partner will demonstrate that he or she cares, so that person will be more dependable.
#3: Collaborative Communication
Being a good communicator is an important part of being an attorney, especially if that person needs to navigate the rough terrain of managing the legalities of a startup. Your attorney should be asking regular and incisive questions about a specific business issue, goal, or transaction. Otherwise, he or she won’t be able to know what to look for, what you care about the most, and what you think is the most important.
Your lawyer should also pay attention to your answers, so he or she can understand the broader context of how specific issue came up. If you ask your lawyer to look over an interpret a contract, the advice you get from this person will be the most useful to you if it came from a clear understanding of the transaction.
#4: Practical Advice
While many of the questions that you may ask your business lawyer will have complicated answers, you will most likely want a simple and straightforward response. A lawyer could send a long email or spend a great deal of time with you on the phone, it won’t serve the interests of startup because time is money. If you’re managing a startup company, you’re as cost-conscious as you are busy. So, the best business lawyer for a startup will be able to “cut to the chase” (all while going back to his or her more detailed analysis).
The business lawyer for a startup company will be able to give that company practical advice. Most attorneys will be able to educate you on how to interpret a provision in a contract or analyze risk in a transaction. But if you’re a startup, you want to find one who will give you real-world advice about specific issues. This person must be able to determine what is and isn’t important to you in whatever stage your company is in.
If you’re looking for a business lawyer in Corpus Christi with the skills and qualifications to help you with your startup, be sure to get in touch with Gale Law Group.