"The first thing we do, let's kill all the lawyers." Shakespeare, HenryVI

Hopefully, our readers will find the quote in the title of this post strictly humorous, rather than a call to act.

I am a lawyer. There, I said it. Contrary to the evil persona depicted in the many cartoons and email anecdotes my father and friends have sent me over the years, I pride myself in being a kinder, gentler lawyer and I believe I am in the company of many.

To me, a good business attorney is one of the most important assets a business owner can have, and the sooner he or she retains a reputable business attorney for guidance through the creation and operation of a new business, the better off that business owner will be.

As an attorney who bills by the hour, I understand why someone creating a new business may be reluctant to hire a lawyer initially. It is difficult enough to find the means to fund a new business and often times there just isn’t enough extra cash sitting around to pay a lawyer for legal assistance.

I am confronted with this issue regularly when I take calls from client prospects who ask me to help them differentiate between what is absolutely necessary and what can be overlooked in the beginning stages of operation. Unfortunately, for them – and for me – I don’t have a crystal ball and can’t predict with any certainty what crisis a particular client will face in the near or distant future.

However, experience has taught me that dealing with crises is an expected part of running a business. That knowledge is by no means intended to incite clients to act through fear; it is merely the practical reality of operating a business and ignorance is not bliss in the business world. It is far better to be aware today of potential problems rather than learn about them when they have become the crisis du jour.

A critical role of a business attorney is to protect his or her clients against “worst-case” scenarios and, when funds are lacking, at least to advise those clients of potential risks they may face in the future, even if they are unable to take comprehensive measures to protect those interests.  While doomsday scenarios can seem and sometimes are, in reality, remote circumstances, lawyers frequently receive calls from clients experiencing just that – in the form of contractual disputes, statutory violations, lawsuits . . .the list goes on and on. And in each case, resolving the problem will cost the client far more money than the initial cost of retaining the attorney at the onset.

There are a multitude of legal issues to be addressed by a business owner embarking on a new venture. And, each client has his or her own set of facts and circumstances, such that I would not attempt to compile a legal checklist here (note to self: a good topic for a future blog post!). That said, a good business lawyer can help his or her client identify key legal considerations and prioritize next steps. Also, a competent lawyer will know when it’s time to retain the services of other legal experts with expertise outside that of the business attorney.

If you are someone looking to begin a new business and, like many entrepreneurs, have limited capital, any investment you make now with a business attorney will pay off exponentially regardless of the level of success you achieve. Even if you have only one meeting with that attorney and, after being advised of various steps to be taken, you choose to go it alone, at least you will be doing so with the knowledge of the risks you are taking.

And, as a final note, if the Shakespeare quote above rings true for you . . .it may be time to sign up for yoga classes or to light some scented candles for the calming effect or, even better, to hire a new lawyer!