Legal considerations in new ventures-selection and management of legal counsel

Abstract

It is pointed out that the delivery of legal services to business is not an easy or well-understood issue. It is suggested that it is very valuable to the business person to become personally involved in the structure of the relationship by which legal services are provided. The failure to do so, at the least, can double the cost of legal services and lower their quality; at the worst, it can cost a company hundreds of thousands of dollars in mistakes and losses. The discussion covers the selection of legal counsel, issue spotting, timely involvement, effective coordination, and documentation.<>