how to become a small business attorney

• Educate yourself about legal issues: Small business owners spend most of their time on the day-to-day work of running a company, but they still need to have a general understanding ...
• Know where to look. One of the best ways to find an attorney is to ask someone you know for a referral. ...
• Ask the right questions. Before you hire an attorney, ask them what their main areas of expertise are and how long they’ve been practicing. ...
• Make sure this relationship is a good long-term fit. Make it your goal to find an attorney with whom you can build a long-term relationship. ...
• Understand the attorney’s fees. Attorney fees can vary greatly from one firm to another, so make sure you understand the billing process before you agree to services. ...
• Watch out for red flags. Don’t hire an attorney who lacks real world experience. ...

Full Answer

How do I become a business lawyer?

To be a business lawyer you must first obtain a law degree (J.D.) and pass the bar exam in the state where you plan on practicing. In addition, you will want to specialize in business law by networking, joining professional organizations, and getting certified or recognized in the field.

Should I hire a small business lawyer?

Plus, generic forms might not hold up in court. When in doubt, therefore, it’s best to consult a small business lawyer about laws that are specific to your industry or state. The main reason to hire a business attorney now is to save yourself money and time down the line.

How do I compare small business lawyers?

Compare attorneys by asking the right questions. Work out a fee arrangement that fits your budget. Know when it’s okay to skip the small business lawyer. If you run a small business, one of your biggest fears is probably getting sued.

What is a business lawyer?

Business law is a broad field defined by any and all issues surrounding a business or corporation. To be a business lawyer you must first obtain a law degree (J.D.) and pass the bar exam in the state where you plan on practicing.

How do I start a business lawyer?

Starting Your Own Law Firm ChecklistDevelop a Business Plan. Chalk out a detailed business plan before starting a law firm. ... Choose a Practice Area. ... Name Your Firm. ... Form Your Own Entity. ... Select a Location. ... Get Office Furniture, Equipment and Supplies. ... Build a Network. ... Join Local Organizations.More items...

How do you become a business lawyer in the US?

Follow these steps to become a corporate attorney:Earn a bachelor's degree. ... Complete an internship. ... Apply for law school. ... Earn your juris doctor degree. ... Pass the bar exam. ... Get licensure in your state. ... Meet with professionals in the field. ... Develop your resume.

What type of business lawyer makes the most money?

Some of the highest-paid lawyers are:Medical Lawyers – Average $138,431. Medical lawyers make one of the highest median wages in the legal field. ... Intellectual Property Attorneys – Average $128,913. ... Trial Attorneys – Average $97,158. ... Tax Attorneys – Average $101,204. ... Corporate Lawyers – $116,361.

Is business law a good career?

This is a very reputed and respected field of law and needs the candidate to be hardworking, competitive and thorough with Business Law and related areas such as Financial Law, Compliance, Diligence, Human Rights, Environmental Law, Investment Law, Insurance Law, IP Laws, Constitutional Law and International Trade Law.

How long do you study to become a business lawyer?

Starting With A Bachelor's Degree All future lawyers must complete approximately seven years of schooling, according to the U.S. Bureau of Labor Statistics. You will need a bachelor's degree before entering law school, followed by three years of law school.

What field of law is most in demand?

Most in-demand practice areasCommercial law.Litigation.Real estate law.Intellectual property.Family law.

How can a lawyer make 7 figures?

4 Keys to Achieving a 7-Figure IncomeRun your law firm like a business. You studied the law as a noble profession, but to break the seven-figure barrier, you must run your law firm like a business. ... Focus on a niche. ... Identify your ideal target market. ... Pay attention to your firm's finances.

Who is the most paid lawyer in the world?

Top 10 Highest Paid Lawyer In The WorldRichard Scruggs — Net Worth: $1.7 Billion.Joe Jamail Jr. ... Willie Gary — Net Worth: $100 Million. ... Roy Black — Net Worth: $65 Million. ... Robert Shapiro — Net Worth: $50 Million. ... John Branca – Net Worth: $50 Million. ... Erin Brockovich – Net Worth: $42 Million. ... More items...•

What Types of Companies Hire Business Lawyers?

Before entering law school, you may want to consider which business sector appeals to you. According to the U.S. Bureau of Labor Statistics (BLS), lawyers may work in a variety of industries, including construction, intellectual property, insurance, mortgage and waste disposal ( www.bls.gov ).

What Education and Training Do I Need?

The BLS states that there isn't a preferred or recommended pre-law degree; however, you may want to consider a multi-disciplinary program. Accounting, business administration and finance are just a few possibilities for relevant majors.

What Happens After I Complete My Juris Doctor?

Once you've earned a J.D. from an American Bar Association-approved institution, you will need to take and pass the Bar exam. In general, you will take the Bar in the state where you plan to work.

What Are Some Related Alternative Careers?

Postsecondary teachers, judges, and mediators all have careers that involve some similarities to the work that business lawyers do. Postsecondary teachers need a master's or doctoral degree. They may instruct students in subjects such as law or business, and provide the educational foundation for future business attorneys.

What Does a Business Attorney Do?

A business attorney specializes in business law and advises businesspeople or corporations on issues such as taxation, intellectual property rights, and labor relations. As a business attorney, you may work with clients at a law firm or act as in-house counsel for a company or organization.

How to Become a Business Attorney

To pursue a career as a business attorney, you must earn a bachelor’s degree and take the LSAT to apply for law school. Once you complete law school, you need to pass the state bar exam to earn your license. You also need to gain corporate law experience in areas like contract law, bankruptcy, and zoning.

How long does it take to become a lawyer?

It takes about seven years of full-time study to become a lawyer once you’ve graduated from high school. This includes four years of undergraduate study followed by three years at a law school.

What is the last step to become a lawyer?

The last step in becoming a lawyer is passing the bar examination. You will need to pass the bar exam for whichever states you would like to practice law in. For example, if you want to practice law in New York, you will need to pass the New York State Bar Exam.

What do lawyers do?

Lawyers help individuals or businesses throughout legal processes. They prepare legal documents, build cases, attend hearings and try cases. Additional duties include working with legal and criminal justice professionals, taking depositions, settling cases and sending legal correspondence. They often specialize in different types of law, such as tax or family law. Lawyers work in a wide range of fields, such as: 1 Real estate 2 Business 3 Criminal justice 4 Healthcare 5 Politics

How long does it take to prepare for the bar exam?

Preparing for the bar exam requires a lot of studying. You should create a study schedule that takes place over several months. You’ll also want to find a quality bar exam test preparation course and materials to help, and focus your attention on topics that appear frequently.

How much does a lawyer make?

Average lawyer salary. The average salary for a lawyer in the United States is $70,336 per year, though some salaries range from $14,000 to $201,000 per year. Salaries may depend on experience level, field of legal practice and a lawyer's location.

What are the majors in law school?

However, some of the most common undergraduate majors include criminal justice, English, economics, philosophy and political science. Spend your undergraduate time taking classes related to the area of law you think you would like to practice.

How much does it cost to go to law school?

On average, you can expect to spend about $45,000 per year. For the top law schools in the country, the tuition is closer to $65,000 per year. The cost will also depend on whether you're paying in-state or out-of-state tuition, and attending a public or private school.

What Does a Business Attorney Do?

In simple terms, a small business attorney helps us understand the necessary legal rules and regulations of running a startup business.

Different Types of Small Business Lawyers

Much like entrepreneurs, there are various types of small enterprise attorneys who specialize in different fields in the business context. Here are some of the different kinds of small business lawyers.

Do You Need an Attorney for Your Small Business?

As we mentioned earlier, hiring a small business attorney is critical since we do not know what legal obligations and challenges lie ahead of us.

When to Hire a Small Business Lawyer?

The situations you may need to hire a small business attorney include:

What Is the Cost of Hiring a Small Business Attorney?

Usually, small enterprise lawyers charge their services per hour. This could be anywhere between $140 to $325 per hour.

How to Find the Right Small Business Lawyer?

Now that we’ve looked at the importance of hiring a business lawyer, let’s look at how to find the right one.

Final Thoughts

Hiring a small business attorney is an excellent investment for your small business. They will help you navigate smoothly through many legal processes you may encounter while operating your company.

What are the two key professionals that every business needs?

There are 2 key professionals that every business needs in order to become successful – an accountant and a business lawyer . While the motive behind hiring an accountant is pretty obvious, the reasons for employing a business attorney are still not so apparent. Well, in order to become a booming small business, it is essential that you get the right legal advice and guidance because it will eventually enable you to understand the lawful consequences of your business actions, formulate smarter and better business decisions and protect your business’ legal interests.

Is it hard to hire a business attorney?

Hiring the right best business attorney is not much difficult. Even though your first step should be to conduct a thorough and refined research about the top-rated small business attorneys in your area, there are certain points that you need to consider and ask your business attorney before hiring them.

What to do while in school to become an attorney?

While you're in school, attend career fairs your college hosts. You'll have the opportunity to meet with attorneys at various companies and firms and speak with them about your career ambitions and the skills you've already learned while in school. You can ask these professionals if you can schedule an informational meeting with them off-campus to learn more about their firm.

How much does a corporate lawyer make?

The national average salary for a corporate lawyer in the United States is $130,857 per year, although your years of experience, education, skill set and geographical location can affect your salary. For example, the average salary for corporate lawyers in New York, New York is $186,861 per year, while the average salary for the same position in Montgomery, Texas is $111,973 per year.

What is corporate law?

One is corporate law, which is the area of law concerned with businesses and the activities that go into operating, maintaining and managing an organization. As with other types of law, to secure a position in corporate law requires that you follow certain steps to become qualified and have the knowledge you need to succeed as a corporate lawyer.

Why is it important to be analytical in corporate law?

Analytical: It's necessary that corporate lawyers be able to form reasonable conclusions from the limited amount of information that's at their disposal. Your analytical skills can help you form sound arguments and develop stances and negotiations on behalf of the business.

What is a company representative?

Representing the company they work for in court, during regulation meetings and to administrative boards

What can a small business lawyer do?

A small business lawyer can help you draft both partnership agreements and corporate bylaws.

What can an attorney do for a business?

An attorney can help you negotiate favorable contracts and ensure you understand all the fine print. Handling employment issues: As a business’s workforce grows larger, business attorneys often step in to help with labor law compliance and to resolve wrongful termination lawsuits.

How much does a business attorney charge?

Generally, h ourly billing rates for business attorneys range anywhere from $150 per hour for a junior attorney in a small city to $1,000 or more per hour for a top attorney at a big-city law firm.[2] With this in mind, it’s important to get all the details of your fee agreement in writing—so that you know exactly how much you’ll be paying for your small business attorney’s services.

How do lawyers communicate?

Different lawyers have different communication preferences. Some old-school attorneys prefer in-person meetings and phone calls for quick questions. Others prefer email and use e-signature software to store and sign documents. If you’re a small business owner with a busy daytime schedule, you’ll want to make sure the lawyer understands this and that you have a way to communicate urgent matters.

How long is a consultation for a business lawyer?

The next step after sourcing a handful of business attorneys is to meet with all of them. Most lawyers offer free half-hour or one-hour consultations to meet with potential clients. A consultation is a good way to see if a small business lawyer is a good fit without committing.

What is the best business entity?

For instance, if you plan to raise venture capital, then a C-corp is the best choice. A small business lawyer will be able to walk you through the pros and cons of the different business entities and help you decide which will be right for your company.

What are the biggest fears of running a small business?

If you run a small business, one of your biggest fears is probably getting sued. No matter how carefully you conduct business, hiring the wrong individual or a business deal gone wrong can come back to haunt you.

How to Hire a Qualified Small Business Attorney

Educate yourself about legal issues: Small business owners spend most of their time on the day-to-day work of running a company, but they still need to have a general understanding of the legal issues that can crop up. Before you hire an attorney, familiarize yourself with the basics on contracts, business structure, and human resource law.

For More Information

To learn more about hiring a small business attorney, see these resources from the Federal Trade Commission (FTC) and National Federation of Independent Business (NFIB). The American Bar Association has helpful tips on finding an attorney.