How to Hire an Attorney for Your Business
For the past few years, we’ve seen an increase in the number of female entrepreneurs in Africa. In the 2017 MasterCard Index of Women Entrepreneurs (MIWE) report, Uganda – as one of the only two low-income economies to be included in the report – had the greatest number of female-run businesses in the world, which corresponds to 34.8%. The country even superseded high-income countries like New Zealand (33.3%), Australia (32.4%), and Russia (32.6%). 2017 has been an amazing year for many African women who chose to take the entrepreneurial path, so as in 2018. If you’re thinking of launching your own business, now is the time to do so. There are many kinds of business that require very small capital, some you can even start from home. Sometimes, a loan can help you get started if your savings are not enough. Why Should You Hire an Attorney? You’ve got a great business plan. A great product. A great concept. But how do you transform all your ideas into a tangible, operational business that is headed for success? Of course, you need help from the professionals. You probably have thought about hiring an accountant already. The reasons are pretty obvious. You need someone to help you with your books, make sure you’ve got the numbers right, and manage all your business taxes. But how about an attorney? You probably haven’t thought about it yet. Or maybe, you think that it’s too soon to get one. But the truth is that you will most likely need a good business attorney at every aspect of your business, from ensuring that you meet all the requirements set by the Companies and Intellectual Property Commission (CIPC) to organize your business (what type of business is most suitable for you as well as your tax structure), getting copyright and trademark advice, and many more. And as your business grows, a good attorney can help you carry out your expansion plans, understand the tax consequences of any changes with your business structure, prepare and execute contracts with your customers, suppliers and business partners, and file or deal with a lawsuit. [bctt tweet=”Do you have an attorney for your business? Read this article for steps on how to hire one” username=”SheLeadsAfrica”] Hiring an attorney is essential to achieving your business goals. Check out the following tips and suggestions in order to find the best lawyer to help you: 1. Look for an attorney who specializes in business law Like doctors, attorneys are becoming increasingly specialized these days. Some specialize in family law, others in criminal law or real estate law. Basically, you want to hire the attorney who has the experience and skills with corporate and mercantile laws. He or she should be skilled with making contracts, familiar with various business structures, understand real estate (you might have leasing issues for your commercial space), experienced with tax and licensing matters, etc. Depending on the nature of your business, you will also need other legal services. For instance, if you’re into media, design or any other creative type of business, you will need a lawyer who will help you get copyright protection for your work. 2. Look for an attorney who is familiar with your industry He or she may not know every aspect of the industry you’re in, but the right lawyer should be at least familiar with it. Don’t forget to check the track record of the lawyers you are considering. He or she should have a pretty good understanding of the industry’s ins and outs. Also, make sure that the lawyer does not represent any of your competitors. The last thing you want to happen is to have your confidential business info leaked to your competitors. 3. Find someone who educates A good attorney does not just give you the results you want. He or she also keeps you well-informed about the legal concerns your business is facing. The attorney should be willing to educate you and your staff about your current legal needs and situations, how it affects your business, and how similar problems can be prevented in the future. Your lawyer should also be proactive about updating you with recent policies or changes in existing policies that affect your business. 4. Get a good attorney who charges a reasonable fee Most lawyers charge an hourly rate, but some do a fixed rate. Good lawyers are willing to negotiate with their fees without compromising the quality of their services. Choose an attorney who is flexible with his billing. It is not all the time that you will need his or her services so paying monthly or hiring a company lawyer may not be a strategic idea yet, especially if you are just starting your business. Hiring an attorney for your business should not be that complicated as long as you keep all these suggestions in mind. Once you found the right one, keeping a good relationship with your attorney is the key to ensuring that he or she will be there when you need help. This article was written by Lidia Staron Lidia Staron is a part of Content and Marketing team at OpenCashAdvance.com. She contributes articles about the role of finance in the strategic planning and decision-making process. You can find really professional insights in her writings.
How to secure a Promotion in your early years of Practice: A Young Lawyer’s Guide
Working as a young lawyer in a commercial law firm in Nigeria, I noticed that many young lawyers struggle to secure a promotion in their early years of practice. One of the major reasons for this problem is the lack of transparency and structure in most law firms in Nigeria. As a result of this, young lawyers are left clueless as to how to secure a promotion. This usually results in young lawyers engaging in hard work which involves; keeping late nights, spending weekends at the office, taking more responsibilities than they can handle regularly, which ends up leaving young lawyers feeling overwhelmed from the stress and constant negative feedback. How can this issue be resolved? How can young practicing lawyers secure a promotion in their early years of practice? In answering this question, the saying “you have to work smart and not hard to succeed” comes to mind. This basically means that in order to secure a promotion, a young lawyer has to initiate ways to maximize his productivity level. It goes beyond spending late nights in the office on weekdays and weekends, there are some extra steps that need to be taken to ensure that you are headed in the right direction and considered for promotion. The steps are: ask the right questions, know when to ask these questions, volunteer for extra activities and learn how to satisfy your boss/supervisor. Ask the right questions As basic as this may sound, the first step in securing a promotion as a young lawyer is to ask your bosses/supervisors the right questions. Examples of these questions are: How am I fairing with work? Am I performing at the level expected of me? Is my performance at the level where my boss can give me additional responsibilities? These questions will proffer feedback that a young lawyer can develop or work with to better their skills and knowledge in the practice of law. The feedback given will provide guidance and direction to a young lawyer seeking to secure a promotion. If the feedback is negative, the next question that should be asked is, what can I do to improve? When the answer is given, you now have the responsibility of putting the feedback into effect in a way that’s demonstrable, by ensuring you deliver good legal work. This can be achieved by seeking help from your colleagues or immediate bosses, reading widely, asking questions to obtain clarity on a subject matter etc. This shows seriousness, resilience, and determination to succeed, which every employer loves to see in his employee and will definitely give a young lawyer an edge over his peers at the next quarter when promotions are being considered. If the feedback is positive, ensure that you maintain that level of excellence and even thrive to do better. Most people become comfortable when they get to certain levels in their career where they believe they are performing well. However, this can be dangerous as too much comfort breeds mediocrity. Know when to ask the right questions? The next step is realizing when to ask the questions and to achieve the best results from the question mentioned above. These questions have to be asked at the right time, which is usually at least 6 months before the next promotion quarter. For example, appraisals in your law firm are usually done in December and promotion lists released in January. A young lawyer should ask the above-mentioned questions in June/July of that year. This will afford the young lawyer ample time to improve his skills and work on the feedback received from their boss or supervisor before the next promotion quarter. Most young associates or lawyers tend to ask those questions after seeing the results of their yearly appraisals. Usually, this is too late because there is not enough time before the promotion list is released to improve your skills. If you have just secured a job in a law firm, you should be asking the above-mentioned questions after the first quarter or the first half of the year. Volunteer for extra responsibilities at work It is advised that young lawyers volunteer for extra responsibilities at work that will help showcase other skills a young lawyer may possess i.e. organizational skills, management skills. However, this should not be done to the detriment of your legal work at the office. Therefore, time management has to be applied to enable a proper balance between participating in extra activities and the ability to deliver legal work. It should also be noted that as a junior associate, the bulk of the work is your responsibility and as such your legal work should always be your primary responsibility. Learn how to satisfy your boss/supervisor I was once reprimanded by a Partner in my office for neglecting to keep him informed on every step I took while communicating with a Client on a particular matter, leaving him out of the loop. The thing about this was that I did not think it was necessary to inform him because nothing major had happened, however, the partner I was dealing with was particular about knowing everything that happens in this case. After reprimanding me he told me something that has stuck with me: “figure out the little things your boss likes, the way he likes his things done and ensure you do it that way”. He said that this little act goes a long way and will leave a lasting impression on your boss. My point is that as a young lawyer you are encouraged to study your boss to know his likes and dislikes with respect to work and do everything with enthusiasm to satisfy him with your delivery. These little acts can make you become one of your boss’s favorite and as a result, he may overlook your mistakes and also put in a good word for you when certain names are being considered for promotion. Are you a young professional who has a lesson to share? Let us know here.
How to land a legal job: The dream cover letter for the future attorney
[bctt tweet=”Don’t expect anything if you don’t work for it” username=”SheLeadsAfrica”] It seems obvious but a lot of the time we wish for things and then wait around for them to happen to us. This as opposed to grabbing opportunities and making things happen for ourselves. Particularly when it comes to seeking employment in the legal profession, competition is unavoidable. You need to differentiate yourself and be proactive in getting yourself that job of your dreams. Your first shot to get through those doors is just two pieces of paper, your CV, and your cover letter. What is it for? There is a common misconception that the cover letter is redundant and the magic is in the CV. However, if we analyse the objectives of these two documents, it becomes clear that the CV is a list of information. Important information, yes, but not necessarily relaying your personality and charisma. The cover letter should be just that, your emotive selling point and the document that can push you over the edge when the employer is stuck with a pool full of like-minded CVs. It, therefore, has the power to be a critical document in your pursuit of employment. You can take your list of achievements and translate them into relevant skills that your prospective employer is looking for. [bctt tweet=”The CV has important information but not it doesn’t relay your personality & charisma” username=”SheLeadsAfrica”] The law degree will see everyone in much of the same position in terms of subjects. So the extracurricular activities and interest areas will be what makes you stand out – it is important to highlight this and make it clear in your cover letter. What should I include? The contents of the cover letter are dependent on what you are applying for. So before you jump into writing, take a few steps back and spend some time engaging with the requirements of the position you are applying for. Is it a position at a big corporate law firm? Then your cover letter should focus on your ability to work long hours and maintain attention to detail; your ability to translate constructive criticism to a change in your work product and motivated attitude (to name a few). If it is a position at a human rights non-government organization, then the cover letter will be completely different to the aforementioned. Mention motivated attitude again but now link it to previous experience highlighting your passion for the cause; determination to work regardless of the barriers and interest in following court decisions in this area and the trends you have seen. Don’t make your cover letter another list of skills in a different order. Take that vacation work experience and make it work for you! Highlight how you learnt the value of networking and even though it was a long work day, you are excited at the prospect of challenging yourself and learning more. [bctt tweet=”Don’t make your cover letter another list of skills in a different order ” username=”SheLeadsAfrica”] Should someone else read through it? It can be nerve-wracking once you have poured your heart into this document to then expose yourself to a third party prior to sending it on to your prospective employer. However, there is a lot of value in getting insight as to whether you have sufficiently sold yourself for the position you are applying for. It is important for a third party to read your cover letter together with your CV to assess whether there are any achievements or skills that you have missed out on including or whether something else could be more relevant to include. Am I going to use this again? I think it is helpful to start off with a generic cover letter that covers some of the transferable skills that will be relevant regardless of the position. Then working off this, tweak the original to suit the specific position. Of course this means that your base cover letter needs to be cracker, and by cracker I mean a strong reflection of some of your core skills that differentiate you from the masses. Then for each new position you are applying for, go through the same process of analyzing the position and your suitability to it and amend your base cover letter accordingly. Selling yourself is never a bad thing [bctt tweet=”You are amazing, you just need your prospective employer to see that” username=”SheLeadsAfrica”] You are amazing, you just need your prospective employer to see that. The benefit in taking the time to reflect on the position and your ability to fulfil the position can result in you realizing that perhaps you are not suited to being a corporate law associate because you don’t like working long hours and you have not really had an interest in corporate law given your previous experience. Through spending more time and effort on the cover letter process, hopefully you manage to match yourself to position that will fulfil you and to which you are happily suited – it shouldn’t be a strain to sell yourself for a position.
5 legal issues startups should think about within 6 months
Developing a new idea, creating a website and customers are all the exciting things about building a startup but dealing legal issues will never be on a founder’s top ten list. Unfortunately, a strong legal foundation is necessary in order to build a growth company and not taking care of these important issues can keep you from getting investment or expanding down the line. Here are five things all founders should pay attention to within the first six months of starting their business to ensure it’s off to the right start. Co-founders Key Takeaway: Be sure to draft a founders’ agreement early on and without emotion. Allocation of company ownership is important. It is also vital to address what happens if one founder departs. It is not uncommon for pre-incorporation founders to fall off the map before the startup becomes profitable. Deadbeat co-founders may also show up to claim profits if the startup takes off. You therefore need a clear strategy on how to handle this. Founders should also clarify what their duties are to current and former employers. If the idea for a startup was developed or worked on while an entrepreneur was employed by another business, there may be specific legal issues to consider. Lawyers Key Takeaway: Retain appropriate legal counsel as soon as possible or utilize open sourced legal documents for the early stages. Focusing on legal issues early is key, and is especially helpful for new entrepreneurs. However, do not give your lawyers equity and do not use your investors’ lawyers. Also, remember that violation of privacy, securities or tax laws can lead to criminal liability so it is imperative that startups have proper policies in place and carefully adhere to them. Don’t have the funds to hire a full time lawyer? Check out the Founder Institute’s open source agreements that can serve as a good start for standard legal agreements. Intellectual Property Key Takeaway: Founders should implement an intellectual property strategy to monitor the use and disclosure of their intellectual property. Protect your startup’s name. It could be one of the company’s most valuable assets. Many startups operate under the mistaken assumption that a corporate name reservation is the only thing they need to protect their business name. Remember that you also have to register the name globally as a trademark. One of the most common pitfalls that entrepreneurs fall into is the exposure of their intellectual property by communicating confidential information to various people without non-disclosure agreements and other safeguards, or the use of inadequate non-disclosure agreements. Non-disclosure agreements should be drafted with the particular circumstances of the disclosure in mind and ought not to be treated as a basic boiler-plate document. Consultants/Employees Key Takeaway: Draft formal agreements for all consultants and employees so the terms of service and confidentiality requirements are clear. It is vital to enter into a written consulting agreement with such contractors. Intellectual property developed by an independent contractor will typically belong to the independent contractor in the absence of a clause in a contract to the contrary. It is also important to familiarise yourself with the employee laws of the city, state or country in which you setup. The most common employment law violations are misclassifying an employee as an independent contractor and/or failing to pay an employee appropriately. Licensing and Incorporation Key Takeaway: Know what the important license conditions are for your city and country and ensure that they are are not being violated in the course of your business. Set up a corporation or LLC for everything but a short-term business whose existence will be numbered in months rather than in years. Only raise funds from “accredited investors” and do not pay commissions for fundraising unless it is to a registered broker-dealer. Additionally, in most countries, running any kind of business requires several licenses, some of which might be simple tax registrations or trade licenses. Failure to comply with licensing norms leads to fines, costly legal suits and even business shutdown.