Legal issues are a part of running any business, but they can be time-consuming and costly. Finding the right legal service provider is essential to keeping your business in good standing.
When meeting with potential lawyers, treat it like an interview. Ask them questions about their time practicing law, how they update clients on legal matters and their service fees.
1. Experience
A good service provider will have extensive experience with various legal issues, especially ones that frequently come up. They’ll also know the best way to handle the problem. They’ll also be familiar with the rules and regulations that apply to your area of law, such as state bar association ethics guidelines.
The right provider will also understand the needs of in-house counsel and other legal team members. This will allow them to provide a better, more efficient service. For example, a high-quality ALSP should be able to help paralegals with document automation and other tools. This will enable them to perform more of the work that was once done by attorneys.
2. Responsiveness
A great legal service provider responds to inquiries and questions promptly and efficiently. They also ensure that their clients and colleagues receive the attention and support they need, building trust and satisfaction. Responsiveness is crucial to the success of any business. It fosters intimacy and emotional security in relationships, reduces misunderstandings, and promotes effective communication.
In-house counsel choosing external law firms rated responsiveness as the top factor in their selection process, according to a recent survey by Thomson Reuters. This was more important than understanding a client’s business and industry, and deep specialist expertise.
In addition, a high-quality ALSP will use technology to increase efficiency and transparency. For example, many ALSPs provide services through a fixed fee model instead of billing by the hour. This prevents bill padding and saves firms money over time. Moreover, it allows ALSPs to offer services at a lower cost than traditional law firms and eliminates the need for costly overhead. This allows firms to budget more effectively and meet their internal objectives.
3. Expertise
One of the most important qualities of a good legal service provider is their expertise. This is an obvious statement, but it is worth stressing because it often seems to be overlooked. Expertise means being knowledgeable and skilled in a specific area, which comes from both study and practice. It is the knowledge that distinguishes Yo-Yo Ma (musical performance), Fred Astaire and Ginger Rogers (ballroom dance), Antiques Roadshow appraisers, and Albert Einstein (physics).
Some fields, like chess or tennis, have reliable measures of expertise. But other areas, such as astrology or medicine, do not. In fact, it has been scientifically proven that astrologers cannot predict human behavior or the future better than chance.
When choosing an ALSP, make sure to ask about their data security protocols. This includes their approach to backup and recovery, as well as their security protocols for entity management, contracts, UCC filings, and search data. Look for a provider with extensive experience in these areas, as they should be able to help you navigate the complexities of working with sensitive information.
4. Flexibility
A great legal service provider and your go-to Brisbane family lawyer will give you a clear picture of their costs upfront, and they’ll be flexible about how to break down those costs into different services. You shouldn’t have to pay extra if an associate or paralegal is more experienced at handling a particular legal task.
Many ALSPs work with networks of attorneys to provide consultation and document review, as part of their standard package or as an add-on. These are often good choices for companies seeking to limit their outside legal spend without sacrificing quality or speed of service.
Some ALSPs offer a range of critical legal support services, such as setting up an LLC, filing for an employer identification number (EIN) and creating business contracts. Others are more specialized, such as providing help with forming a limited liability company (LLC) or filing for a trademark or copyright. Look for providers that focus on the specific legal tasks that you or your clients regularly need. This will allow you to get the most bang for your buck.
5. Honesty
Honesty reflects an individual’s moral character and involves telling the truth in all situations. The word honesty has many synonyms, including uprightness, fairness, and candor. Honesty can be characterized as an active moral sense that guides behavior, a scrupulous or conscientious practice of what is right, and a firm commitment to a code of ethics.
Legal clients who are dishonest can be difficult to work with, especially when they create unnecessary challenges for your team. Often, their dishonesty stems from misconceptions about the legal process that you can clarify early on in your working relationship. If your client is unwilling to be honest, explain that their dishonesty may impact their case and could even result in the termination of their contract.
In addition to honesty, it is important that a service provider have strong relationships with local government agencies. This will help them provide high-quality services more efficiently and expeditiously. Ask your potential providers if they have strong governmental connections and how they manage them. If they can answer these questions quickly and confidently, this is a sign that they are a great partner to work with.
6. Affordability
When choosing an ALSP, look for one that offers upfront pricing. This ensures the cost of work is clear from the outset and prevents costly surprises. Additionally, many ALSPs offer flat fee models which are more cost-effective than traditional law firm billing methods.
It’s also important to consider whether your potential legal service provider makes close governmental relationships a priority. This can ensure that the company has access to state and county offices, resulting in more efficient or expedited services.
In addition to being a legal services company, ALSPs can provide a range of other support functions for businesses. These include due diligence, intellectual property searches and verifications, background checks, negative news research, FCPA assessments, KYC/AML compliance and more.
These legal services companies can help take pressure off of in-house counsel by allowing them to focus on higher-level analysis. By partnering with an ALSP, corporations can save money while reducing risk and increasing efficiency. In the end, that’s a win-win for everyone. This is especially true for firms that specialize in providing corporate legal services like UCC filings and searches.
