Virginia Business Magazine
Contact Us | Advertise | Subscribe | RSS RSS
Keyword Search Site Web  
 
Yahoo!

Business intelligence for and about Virginia's business community






Doing Business in Virginia
 

Guides

 
 
Virginia's Wealthiest
• The 2007 Virginia 100: Who are Virginia's richest citizens? Read the annual survey.

• The 2006 Virginia 100: Read the annual survey.
 
List of Leaders
 
Virginia's Legal Elite


Fantastic 50
 
Special Reports & Publications

New Guide to doing business in Virginia

Site Selection Guide2007 - 2008 Site Selection Guide: An annual look at the state's economic delevopment. Smart growth, economic development contacts, maps, directions and more.

Meeting and Convention PlannerMeeting and Convention Planner: Contact information and links to all the major meeting destination marketing organizations across the state, plus information on companies offering meeting services

 
 
Legal help can be essential in business
Feb 01, 2008

Virginia Business

 

Businesses need the help of lawyers sooner or later. The sooner you find a law firm that matches your needs, the better. You might be better off finding a law firm that has lawyers with a variety of specialties. Businesses often need lawyers with expertise in three areas of law.

Business lawyers typically can help you with a variety of matters, including selecting the structure of your business, forming that entity in compliance with statutory requirements, assisting you with startup financing transactions and drafting your contract firms and legal documents. You might want to consider financing from the U.S.

Small Business Administration. These transactions are fairly sophisticated, so you may want to look for a lawyer experienced in SBA loans if you seek that type of financing.
Litigators may be needed if an outside party brings legal action against you or you decide to bring legal action against a third party.

Employment attorneys will be needed if your company has employees. It is important for you to understand labor laws.


Finding an attorney

Word of mouth might be the best way to find an attorney or law firm that fits your

needs. Trade associations and other organizations that are tied to your industry may

also have suggestions. The Virginia State Bar has a referral service at

http://www.vsb.org/site/public/lawyer-referral-service.
Once you have a list of attorneys or firms, meet face to face with them. Find out

whether the firm has experience with businesses similar to yours and ask whether they

keep abreast of statutory changes and judicial decisions.
Make sure you discuss costs and fees ahead of time. Most law firms charge on a per-hour

basis but some charge a flat fee. Many law firms will ask that you sign a

fee-arrangement letter so that both parties fully understand the cost and fee structure

ahead of time.


Alternative resolutions

Court isn’t the only way to settle disputes that arise during business

transactions. One option is mediation, where a neutral third party meets with the two

parties to find a resolution without the expense of a court trial. A mediator can be

found through your local chamber of commerce. Some law firms also have lawyers who

specialize in alternative dispute resolution.
Another method is arbitration, which is essentially like a private court. The two

parties present their cases to an arbitrator or an arbitration panel. Arbitrators’

decisions are binding, and they often hand down decisions more quickly than a judge

does. Arbitration is another legal method that is cheaper than a court trial.


Virginia Lawyer Referral Service

The Virginia State Bar offers a referral service that matches people’s needs with

lawyers’ expertise. The service is available by calling (804) 775-0808 during normal

business hours. A referral specialist will listen to the caller’s needs and provide a

name and telephone number of a lawyer in the caller’s community with expertise in that

area. The client can then set up an appointment with the lawyer. The original half hour

consultation will cost $35.

 
(0) Comments

Post a comment

 
 

Contact Us | Advertise | Subscribe | RSS RSS | Home

Use of this website is subject to certain terms and conditions