How the Rich Utilize Lawyers

In the past two days I have had two conversations regarding what I do as a lawyer. Both have been eye opening. One person really saw lawyers as an emergency card. When things go wrong, call the lawyer. The other, hate to say it, but the wealthier of the two, saw me as a, her lawyer, as a strategist. As she put it, she calls before there is an emergency, gladly makes the payment and treats the services like insurance. "Demitrus, I am thinking about this or that, let me know what issues you see and what risks I can avoid."

I think the second approach is actually more cost effective. There's much more to a lawyer's job than quick negotiation or hurriedly standing up in court to speak on behalf of my clients. Long before I even get to court its important to me to have investigated the case by talking to the opposition, witnesses, experts and anyone else who has an opinion. I may have obtained affidavits, just in case people disappear, had a photographer take pictures, in case something is removed from the internet, the business shuts down, the evidence is burned down! I will most likely have researched all kinds of issues for motions, reviewed similar cases in the appropriate jurisdiction and read up on the judge including all media articles I can find. I have done all that just to put a strategy together, which is really the big picture of the case, and now the work begins.

For the assignment I may include two or more lawyers. Why? The case may call for different experience. One lawyer may have expertise or experience in an area that will be important, but another lawyer may be essential in the way they interpret the issues. So when cases or issues get big enough, I may have to delegate the work to a team of lawyers and or legal assistants. The legal team will be made up of multiple experienced lawyers who must come to a consensus or formulate a plan of attack or a defense which we will rely on to achieve a desired result. Unfortunately, these preventative measures and the preparation can be costly, but the cost are not nearly as expensive as it is when there is an emergency. purposes or if the preparation is not done. When there are issues known in advance and upfront the risks can be mitigated, but when all has to stop to deal with an issue now the stakes are higher and the delegation is not as easy, because people may not be available in time energy or interest..

So its best to go the preparation route. To think the way smart rich people think and to utilize lawyers before the issue become a problem. Here are the steps: 1. Call me and have me to review the question, issue or contract. 2. I will review research and review again. 3. I will make recommendations.

For the upcoming year, to think like the rich I suggest that there is a legal business review. When in review I want to see the contracts and determine if the law changed in this area or it is still relevant. I may have determined a better way to do what you are doing. The beauty of this is that I can offer discounts. This I have also similarly found with my health insurance. My well being checks have no co-pay and very different from me going in when there is an issue.

TEIL Firms focuses on business expansion. So, call us when you have questions about your business expansion, either locally, nationally or internationally. Call when you are determining whether you have the correct contract for the deal you are about to enter or when you are not sure whether your legal structures will protect you and your assets in the new venture your are entering into. When you think assets, do not just think about your inventory, but also think about your employees, real estate and your intellectual property. If we can't cover it that is where our teams come to play. We want you to succeed. Emergency? .....Well lets try to avoid them.

If you can’t, give us a call at +1 708 531 1740