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I'm listening to a California Education of the Bar program on how lawyers can "think like an MBA." Is this a good idea? The typical split is that businesspeople see opportunities to be exploited and lawyers see risks to be avoided. This can mean that too often lawyers put the kabosh on business ideas because they are so highly attuned to the legal risks. On the other hand, business people need their counselors to keep their enthusiasm in check - at least until all the risks are understood.
My interest is in helping small businesses succeed. That means providing legal counsel that supports the creation of opportunity and growth, not just drafting an LLC or a contract. One of the lawyers on the panel told of a company that discovered one of their warehouse workers was an illegal immigrant. The company was in the middle of a tight-deadline warehouse move. The law firm insisted on a full audit before the move. When the audit revealed that 85% of warehouse employees were undocumented workers, the lawyers insisted they all be fired, despite the fact they were in the middle of a critical move.
The better approach: Fire the one known undocumented, complete the move, THEN do a full audit of the employees. Deal with legal risks but not at the cost of critical business functions. More to the point: Where were the lawyers when the managers were hiring illegals willy-nilly? Where were the practices and procedures that could have averted this situation in the first place?
A small business is not going to be able to handle all of the legal protections they would in an ideal world. The emphasis will be on innovation and product development, not paying lawyers to copyright and patent everything in sight. It's natural that problems only get dealt with when they become problems. But it's a good idea to meet with your lawyer and review all of the issues (many of which the small businessperson may not be aware of) that will have to be addressed over time.
These include exit strategy, planning for growth, marketing issues (false advertising, etc.), employment issues and intellectual property protection.
I'm listening to a California Education of the Bar program on how lawyers can "think like an MBA." Is this a good idea? The typical split is that businesspeople see opportunities to be exploited and lawyers see risks to be avoided. This can mean that too often lawyers put the kabosh on business ideas because they are so highly attuned to the legal risks. On the other hand, business people need their counselors to keep their enthusiasm in check - at least until all the risks are understood. My interest is in helping small businesses succeed. That means providing legal counsel that supports the creation of opportunity and growth, not just drafting an LLC or a contract. One of the lawyers on the panel told of a company that discovered one of their warehouse workers was an illegal immigrant. The company was in the middle of a tight-deadline warehouse move. The law firm insisted on a full audit before the move. When the audit revealed that 85% of warehouse employees were undocumented workers, the lawyers insisted they all be fired, despite the fact they were in the middle of a critical move.
The better approach: Fire the one known undocumented, complete the move, THEN do a full audit of the employees. Deal with legal risks but not at the cost of critical business functions. More to the point: Where were the lawyers when the managers were hiring illegals willy-nilly? Where were the practices and procedures that could have averted this situation in the first place?
A small business is not going to be able to handle all of the legal protections they would in an ideal world. The emphasis will be on innovation and product development, not paying lawyers to copyright and patent everything in sight. It's natural that problems only get dealt with when they become problems. But it's a good idea to meet with your lawyer and review all of the issues (many of which the small businessperson may not be aware of) that will have to be addressed over time.
These include exit strategy, planning for growth, marketing issues (false advertising, etc.), employment issues and intellectual property protection.
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