How To Select a Law Firm for Your Next Deal

Friend of the firm, attorney Gabriela N. Smith, has published a guide to selecting legal representation for a business sale.

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How To Select a Law Firm for Your Next Deal | Small Business Law

Oftentimes, clients are lured by fancy offices of large national and international law firms. These large law firms usually represent very large corporate clients, Fortune 500 companies, and public companies. Of course, to the small/mid-size client, it can seem like they achieved a great thing if they get to hire a large firm for their next deal – such as selling the company. However, appearances can be deceiving, and it’s essential to choose a law firm that truly understands the unique needs of small and mid-size businesses.

Disconnection Between Large Law Firms and Small/Mid-Size Businesses

While no one denies that large law firms are great and staffed with talented and capable attorneys, the reality is that, in our experience, these large firms are often very distanced from the reality of small and mid-size businesses. Their focus is typically on their large corporate clients, and they may not fully understand or appreciate the unique challenges and nuances of working with smaller businesses.

Large law firms operate with a specific mindset that is very well suited for the billion-dollar client but often cannot operate at the level of the small or mid-size business that is selling for a few million or even a couple hundred million. Their fee structures, billing practices, and general approach to handling transactions may not be compatible with the needs and budgets of smaller businesses.

We’ve seen some small and mid-size businesses hire large law firms, only to come to the small or boutique law firms like Gabriela N. Smith Legal Counsel | Asesora Legal, which is run and operated by lawyers who happen to also own their law firm. These lawyers, owners of businesses, understand the reality of small businesses. As a law group international and a Dallas corporate law firm, we can provide the expertise and personalized attention that small and mid-size businesses need when navigating complex legal transactions.

Key Factors To Consider When Selecting a Law Firm

When our clients are selecting a law firm to sell their company, we tell them to look at:

The Types of Deals that the Law Firm Does

Do they always handle billion-dollar deals, or can they efficiently manage a smaller deal without breaking your budget? 

When selecting a law firm for your next deal, it’s crucial to consider the types of transactions the firm typically handles. Some law firms focus primarily on billion-dollar deals and large corporations, while others have experience working with smaller businesses and a wide range of transaction sizes.

Large law firms may have fee structures that are better suited for billion-dollar deals, which might not be cost-effective for smaller transactions. Hence, it’s advisable to seek out a law firm that offers transparent and flexible pricing models tailored to the size and complexity of your deal.

Agility and Attentiveness

Does the law firm have the agility to work with you? Will you be the smallest client in that law firm? Does that mean that the lawyers will not pay attention to your case? 

When choosing a law firm for your next deal, it’s crucial to consider their agility and attentiveness in addressing your business’s specific needs. A law firm that can adapt and respond quickly to your requirements will help ensure a smooth transaction process. 

To ensure that your small or mid-size business receives the best legal services, it’s important to find a law firm that prioritizes tailored solutions based on your business’s unique needs. This means seeking out a legal partner that values open and frequent communication to better understand your objectives and concerns. 

By considering these factors and partnering with a boutique law firm like Gabriela N. Smith Legal Counsel | Asesora Legal, small and mid-size businesses can ensure that they receive the personalized service, attention, and expertise that they need for a successful transaction.

Why Choose Gabriela N. Smith Legal Counsel | Asesora Legal for Your Next Deal

When selecting a law firm for your next deal, it’s essential to choose one that understands the unique needs and challenges of small and mid-size businesses. As a boutique Dallas corporate law firm, Gabriela N. Smith Legal Counsel | Asesora Legal offers the expertise and experience of a large law firm, combined with the personalized attention and agility that small and mid-size businesses need. We specialize in business startup services and provide a range of small business lawyer services tailored to the unique needs of smaller companies. By working with us, you can ensure that your legal needs are met and that your transaction is handled efficiently and effectively.

How To Select a Law Firm for Your Next Deal