ABOUT LAWYERS

Below is an article, by James Lea, which the firm believes states well the usefulness of lawyers and law firms to Business. Please take a moment to review this article reprinted here with permission of its author, to consider how we might be able to help you with your legal needs now and for the future:

Jokes Aside, A Business Needs Its Own Lawyer
James W. Lea  ©2000 

Lawyers take a lot of heat. Sometimes they don't score so well in public opinion polls on trustworthiness. Even I, who have many fine attorney friends, have been known to take an occasional snide swipe at the legal profession. 

But most successful family owned companies will testify that there simply is no substitute for a solid, long-standing relationship with a competent attorney. Necessary legal services for a family business go far beyond writing contracts and filing forms. A good lawyer can help keep the family company out of bankruptcy in these litigious times and, in extreme cases, keep its managers and directors out of jail. 

A good lawyer can advise family business owners on shaping corporate policies and strategic plans in order to get the best advantage from both laws and loopholes. No ownership succession plan should be executed without being reviewed by an attorney who knows the business and the family, as well as the law. And even when there are no defined legal issues at stake, a no-nonsense attorney can keep troublesome outsiders off a family business's back. 

As a business owning family, there are several things that you have a right to expect from the attorney that advises and represents you. First, of course, is genuine and persistent commitment to the interests of the business and, by extension, the interests of those family members involved in its ownership and operation. If your lawyer's list of favorite things ranks your company's needs somewhere below hemorrhoid surgery, you might want to consider a change.

You should also expect your attorney to be accessible. Some lawyers consider it a mark of professional distinction to be always tied up. No matter when you call, they're on the phone, in conference or in court. Granted that successful people are in demand and busy most of the time. But when you need to talk to your lawyer, you really need to talk to your lawyer. If you can never find him, what good is he to you?

To give you the best possible service, your attorney must stay current on a wide range of information and issues that affect your business. That means reading, attending continuing professional education sessions and circulating widely in your company's community and marketplace. If your attorney is too specialized or too lazy to keep up, watch out.

The best attorney for a family owned company is one who values sustained relationships with clients. Every successful law firm grows by adding young attorneys. But if you and your company suddenly get handed off to a new lawyer in the firm, you've lost most of the benefit of the client-attorney relationship. So you might as well start hunting for another lawyer in another firm.

Nobody in law or in business is an expert on everything. The attorney who knows tax law inside out can be forgiven a little thinness on patents and copyrights. A good attorney for a family owned company acknowledges such limitations and refers legal questions on which he's not an expert to another lawyer, either within his own firm or outside it. 

Some families in business follow the custom of having many lawyers but only one accountant. One of their stated reasons is an unwillingness to have any one person familiar with all of their affairs and in a position to judge their business and family behavior. 

So a good attorney for a family owned company provides advice when asked and sounds a warning when he sees trouble ahead. He may even act as a bridge or a buffer between the business and the family when one is needed. But he remains quiet and non-judgmental about the family's purely personal affairs.

Finally, you should expect your family business's attorney to talk frankly with you about fees. Some people who routinely demand estimates from auto mechanics are too shy to say to a doctor or lawyer, "What do you think this will cost?" 

A good family business attorney should always be willing to explain how much time a particular service is expected to take, who will do what parts of the work (the lawyer, a paralegal, maybe an outside advisor) and what the total fee is likely to be.

If your family company doesn't have a standing relationship with an attorney, you should consider developing one, using this list of expectations as an interview guide.

Author: James Lea
Email:  jlea@intrah.org

The law firm of Ossinsky & Cathcart, P.A. hopes you find this Website helpful in providing a brief insight into the people that make up this firm. Feel free to call, e-mail or set up an appointment if you feel we can be of assistance with your business or legal matter.