Up until now, most small businesses had very few choices when it came to the legal side of their companies. It’s time for a change, and it’s already here…
There are four main pillars of business that you can’t avoid no matter what….
Finance and accounting
And in fact, law is the only part of the business that wouldn’t be needed if we didn’t live in a world driven by rules and regulations. Law is not a market and business need, it is necessary so that we can all work in peace and respect.
That’s why it’s the least understood part of the business for many entrepreneurs. In fact, law has little to do with business after all.
When we look back at the history of business, and in more detail – recent history, you can clearly see that the business and lawyers relationship hasn’t been the prettiest. Business owners know they need lawyers and they don’t like it.
Fortunately for everyone, things are changing. And now there are more than one tools and new business models that help big corporations and small startups with law.
What Did Business Owners Do Up Until Now
Up until now businesses, no matter the size and the industry had two main options when it came to law:
- get an in-house lawyer, which is the choice for most big corporations. That’s a good choice if you can afford a lawyer on your payroll. It’s also great because it eliminates the possibility of conflict of interests and you have a legal advisor with you at all times.
- get a consultant whenever you need ti. This is the choice for most small and medium sized business. However, big corporations also often turned to individual consultants for specific legal issues that the in-house lawyer wasn’t specialized in.
There is a third option that has been a reality in recent years and has been on the raise with the freedom of distribution of information that the Internet has given us. It’s the do-it-yourself option. Many times you need a lawyer, like in court. But many times you don’t seem to – when you file a letter of demand, for example. Many business owners decide to read a few legal books, review rules and regulations and save themselves the buck by trying to do it themselves.
And they’re getting themselves in big legal trouble.
The Changed Reality Of Business Law
The two biggest drivers that have created the new law service business reality are:
- Freedom of information. Everyone with Internet access can publish any kind of information online for free and business owners are inclined to using free online advice more and more in their legal decisions.
- The raise of the one-man company. Entrepreneurs are more tech, marketing and legally savvy these days because they know that in the beginning they’ll need to do everything themselves. The mindset why pay when I can do it myself has settled in entrepreneurs brains.
The illusion that with a few blog posts and enough motivation and patience you can be your own lawyer has ruined not one or two businesses.
Business owners are looking for better methods to cheaply and easily manage the legal aspects of their businesses. And lawyers respond. Legal firms started doing law on conveyer – they offer samples of documents, templates for contracts and what now for a flat and affordable fee. The lawyer to business person connection and consulting is left for the big firms only – the small business person wants a fast and cheap legal solution.
What Are Your Options?
With the demand for these kinds of legal services, the smartest and most flexible firms responded fast.
There are several new types of legal services that are now available to business owners that can’t afford traditional legal consulting.
- Legal packages and subscriptions. Business owners pay a monthly fee for a subscription and they have a part-time lawyer. You are entitled to a few phone calls, maybe a few drafts or a contract review every month. Or you might want to get a starting a business package that would help you in setting up your business. We like this option because business owners still get a personalized service and actually get to talk to a professional about their business.
- Legal conveyer. We already mentioned briefly what those are – websites that have a huge database with legal documents, regulations, forms, etc. that a business owner might need. Those are very affordable and easy to access. However, what we lack here is the personal touch of the lawyer – you might get the papers, but using them in the wrong way might be quite the disaster for your business.
- Legal workshops and seminars. Those are honestly our favorites, and that’s why we offer them as well. A legal course, workshop or seminar on a specific topic won’t make you legally savvy enough to run your own legal firm but will give you enough of the basic knowledge you need to run your business in a way that’s not only legally safe but allows you to see where you can save money or increase productivity. This is actually a method that is finally really helping business with law because it empowers them to act.
What we love about seminars is that you actually can get a lawyer to answer your business questions for as less as $50-$100 and learn a bunch of useful stuff. Workshops are also great because you actually get to do what you learn and they only take a few hours. If this looks like something you would be into, check out our guide for choosing the best legal training for your business.
The legal service industry is changing with the changed demands of the business world that it serves. There are more and more options every day.
Whatever you chose, make sure that you will have access to real legal professionals to consult you. Law might seem simple in blog posts like that, but it takes 10 years to get really business law savvy.
All the information you find online can’t compare to a real professional. Get a course.
If you want to take your knowledge of business law one step further to really understand business law and be able to leverage law in your business’ advantage, follow Aquarius Education on Facebook, Twitter and LinkedIn so you can be the first to hear about our upcoming Social Media Law For Business workshops.
Want to Learn More About Making Business Law Work In Your Advantage?
And I want to give you a FREE eBook that will help you start off on the right foot with business law, save money on legal fees, avoid legal trouble and create a legally sexy business.
Want it? Get the ebook here.
See you there!