R. Shawn McBride recently spoke about the importance of your lawyer representing you.
Hey, folks. It’s Shawn here with you asking a very important question. Who is your lawyer? Some people think it’s very simple. It’s the person I pick up the phone and call. But you need to understand who that lawyer is in a business context that can get a little cloudy because lawyers have different roles.
Some lawyers represent the business and some lawyers represent the business owner and there can be a key distinction here. If you get into a corporate situation where you have a problem, you need to understand whether that lawyer is working for you or working for the company. Now, a good lawyer will make sure they explain it to you but sometimes in the confusion and hustle and bustle, there can be a lost message there. So you want to be very clear. Maybe ask the question, who does your lawyer work for? Certainly, a good, ethical lawyer is going to tell you who they work for. You need to understand whether that lawyer is looking out for you or looking out for the business.
Where does this get important? This gets important when you have corporate problems when you have something going on in the company. We need to understand whether the lawyer is working for one of the people or working for everybody, whether they’re looking out for the company or whether they’re looking out for the individual owner. Very important because that’s going to change how the lawyer’s strategy is and what questions they’re going to ask and who they’re defending because lawyers are essentially fiduciaries. We are trustees working for our clients and we got to do what’s best for our clients.
So you want to know who that lawyer is working for and in a partnership situation it gets very sensitive because each partner generally has different economic needs and wants, but then you have a combined partnership. So is that lawyer working for everybody or working for one of the individual partners? You need to ask those questions you need to know. So who is your lawyer and who is that lawyer who you’re talking to looking out for? Ask these questions. Find the answers. Know and make a plan.
You may need your own lawyer. Sometimes it’s advisable, particularly for partners in a partnership, for each of them to have their own lawyers.
If these issues are resonating with you, it’s something you want to learn some more about, check out the McBride Attorney’s blog and the McBride for Business blog. Subscribe to our Youtube channel, McBride for Business and like the R. Shawn McBride public page on Facebook where we built a community around this and I bring you lots of great videos with information like this.
I want to know how I can help you beyond just getting that business evaluation checklist at McBride for Business which you should definitely get. How else can I help you? What are you dealing with, what issues? Let me know. I work with people one-on-one. I answer some informal questions by video that apply to great large audiences and I also keynote and do training. So there’s some way I can probably help you. Let me know how we can work together. Reach out. Say hi. Let me know what’s going on in your world and let’s take it from there. R. Shawn McBride signing off. I will talk with you very soon.
Make sure you download our free checklist to assess your business.
This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique. Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Ear_Candy.
About the Author
R. Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment, gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can email R. Shawn McBride or (214) 418-0258.
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