Ever wonder what your organization could do with a lawyer on site for just a day? Here are four game-changers that a Loop Legal lawyer might be able to deliver to a company on a lease for a single day:
Tighten up Customer Contracts.
Companies work hard to find and keep good customers. The most expensive mistake an organization can make is not setting up the relationship properly. A good lawyer can draft or refine your customer contracts so that your organization can cost effectively use them going forward. For example, here are few value adds a lawyer could provide to your contracts:
- Protect your intellectual property and proprietary information;
- Allocate risk of loss and liability between parties fairly;
- Establish liability for attorneys fees in default;
- Create mechanisms for disputes that prevent shut down; or
- Select the right governing law and forum for disputes preventing unnecessary or costly travel in avoidable litigation.
Lawyers can do a lot in crafting documents for your organization. Investing in a leased lawyer could save your company countless headaches, potentially improve profitability, and let you focus on the goals and realities of running your business.
2. Create and Train on Employment Policies.
Employees are the biggest asset and liability to every organization. A lawyer onsite could do the following to help your organization properly leverage this key asset:
- Develop or update employee handbooks;
- Create an enforceable policy to mitigate the company’s liability for individuals who want to BYOD (bring their own smartphones or computers to access the companies system);
- Provide required training to prevent class actions and bet the company litigation;
- Consult with HR and management to develop or audit protocols for compliance in the myriad of evolving legislative requirements; or
- Advise the board and senior management on their personal liability for cyber theft and hackers.
Lawyers can be the business partner to give your employees and management the right tools to prevent the unexpected traps. Attract and retain the right talent by taking a proactive approach to risk management with the help of a lawyer.
3. Save Money on Vendors.
Vendors are essential to the operation of any organization but can also be a source of unnecessary liability and expense. It can be daunting to shop around for certain types of vendors. In fact, vendors have also been the cause of some of the biggest data breaches in recent history. A lawyer can help you tackle these challenges in many different ways like:
- Establish procurement procedures and policies;
- Train employees on technical requirements and how to avoid sanctions;
- Draft a Request for Proposal, structure the process, and send invitations out to the right potential providers;
- Create a centralized consistent contract management system to track obligations, variances, requirements, and renewal dates of all vendors; or
- Negotiate more favorable terms so that the company can continue to utilize a vendor despite pricing or policy changes.
A good lawyer can work with an organization to identify the actual needs and help to foster the critical business relationships. Leasing a lawyer for a day could also help the company more efficiently monitor those relationships that make it run.
4. Assess and Negotiate Financing.
Financing is critical to the viability of any organization. Companies can make costly mistakes with their assets if they don’t take the right steps in obtaining, restructuring, or managing their finances. A lawyer on site for a day could help a company with things such as:
- Meet with prospective investors to arrive at agreeable terms for funding to accelerate the organization;
- Negotiate with a bank to attempt to restructure the terms of existing loans that are no longer practical with the current cash flow;
- Draft agreements and related documentation for a merger that makes the organization more profitable and efficient; or
- Evaluate security agreements and documentation to assess collateral, valuation, and priority of loans.
Some business issues are more complex than can ever be solved in a day. Start somewhere. A small step in the right direction with a lawyer can help avoid crippling losses, catastrophic events, or needless expense. Good lawyers want to help and really care more about the business than how much they can charge. Look for the new options available in the market and you might be pleasantly surprised. In fact, leasing a lawyer for a day could leave the company begging for an option to buy….