Attornies = friends
I just recently read an article from the Utah Business Magazine Newsletter entitled “Attorneys are Often Overlooked ‘Business Partners’.” The article could be summarized with this quote:
Companies, both large and small, should integrate attorneys into their business teams, rather than simply relying on legal council to come to the rescue when problems arise. However, the process of selecting—and paying for—legal counsel can be intimidating for small businesses.
After having the chance to work more closely with a few attorneys, I really agree with the statement that attorneys need to be a part of your business (even from the beginning). To me, it seems that most entrepreneurs avoid getting attorneys because they are afraid of the financial ramifications that will come from it. To secure a well-experienced attorney, you will often have to fork out $200 - $350 per HOUR for their services. The question then becomes…is it worth it?
I believe that some attorneys are starting to take more chances on early-stage companies by charging a cheaper fixed price for their services in hopes that it will pay off in the end. While it is a risk because the company might fail, I really believe that it will produce results much quicker than anticipated because entrepreneurs are quick to talk to other entrepreneurs.
Bottom line: attorneys are needed. Most important question: is there a way to make it affordable for start-ups?
“Is there a way to make it affordable for start-ups?”
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I have many student in Malaysia doing MBA and I want them join good business group in USA and set business in Malaysia