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  • Why Keeping a Lawyer on Retainer Is a Good Idea for Your Business?

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Having a lawyer on retainer in certain professions can be useful or even essential when running a business. While you might not feel like you need an attorney very often, those few times throughout the year when you need some legal advice quickly will be much less stressful if you already have a lawyer available who is knowledgeable about legal matters in your field of work. Learn more about how having a lawyer on retainer can be a great decision.

Have Legal Advice Available Immediately

One of the biggest reasons that people have a lawyer on retainer is that they want to be able to call someone up that they already know and trust and who can give them answers to any legal questions they may have quickly. When you have an attorney on retainer, you can get answers at the drop of a hat because you’ve already paid for their services. This service is especially useful for businesses that deal with legal issues frequently or who are relatively well established but still fairly new and don’t want to seek out new lawyers for every question only to then wait a week or more to get the legal advice they need.

Have an Attorney On Retainer So That They Can Learn Your Business

If your business is complex, you want an attorney on retainer so that they have the opportunity to learn more about what you do in order to provide the soundest legal advice possible. Attorneys that deal in business and corporate law often know a lot about the certain industries they frequently advise in, but they might not know everything that’s going on with your business specifically unless you give them the monetary incentive to learn about it.

People who need advice on corporate law should learn about the ways that getting an attorney on retainer can help them. An attorney can help with understanding the ins and outs of corporate law, and they can be called on for advice on a weekly basis, or more if the matter calls for it.

There’s also the added benefit that since your lawyer knows that they’ll be getting paid for their work, they can focus more on any cases, disputes, or legal documents that you may need assistance with. This process also goes much faster if they already have an idea of what your company does, as it gives them a better idea of just how to address whatever problem they’re trying to tackle.

Have an Attorney to Review Your Business Contracts

Having an attorney on hand to do some of the day-to-day reviews of contracts and other legal matters can help you to stay focused on your business, not to mention they could also save you expensive mistakes that cost you time and potentially money. If your attorney finds one unnecessary liability among hundreds of contracts, that could save you enough to pay for their services. Having someone qualified to review your contracts also frees your time and energy up to spend more time on growing your business.

Not every business is able to afford at least one attorney on a retainer straight out of the gate, but as their business continues to grow sooner or later they will be. Your business should consider hiring an attorney that is ready and available to assist in any and all corporate legal matters as soon as it is able. Someone who is not only knowledgeable about your specific kind of business, but also your business specifically, can be a great asset when trying to expand or branch out as your business grows.

By Kara Masterson
who is a freelance writer from Utah. She graduated from the University of Utah and enjoys writing and spending time with her dog, Max. While doing research for this article she learned a lot about corporate law and how important it is to have someone on hand who understands it.

Member since April, 2021
View all the articles of Kara Masterson.

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