What It Means to Be a Resourceful Attorney
{3:10 minutes to read} Your attorney is a valuable resource—take advantage of his contacts.
When an opportunity or problem arises, clients often do not hesitate to call their attorney. In addition to legal work, however, many attorneys have exposure to a network of other clients and business contacts that clients can benefit from. Your attorney can be a valuable resource for information, opportunities, and networking—whether in your core business or a business in which you’d consider diversifying.
For example, a client of mine was recently looking to acquire an interest in a company that owns and leases a jet. Although the aviation business might appear sexy, it can make for a very risky investment if you are unfamiliar with its intricacies. It turns out that one of my friends is actively engaged in the aviation business and is extremely knowledgeable about its potential pitfalls. After running the proposed transaction by my friend, we were able to restructure my client’s deal in a way that reduced (not eliminated) the risk. My network also exposed my client to other aviation opportunities to consider for the future.
When in need of a loan, the first call my clients typically make is to the banker or broker with whom they do business or have done business. These valuable resources are often knowledgeable about your business, assets, and financial situation. Waiting to call your attorney at a late stage to review documents, however, after the terms have been negotiated, can prove costly. An experienced attorney is often familiar with the interest rates and other loan terms that have recently been extended to other clients in the marketplace. A well-networked attorney will also be able to introduce you to other potential lenders that may be able to offer more attractive terms. Get your attorney involved early so he or she can help you negotiate better loan terms. This could save you thousands of dollars and free up collateral that could be used for other opportunities as they arise.
A resourceful attorney is more than just a provider of legal services.
A resourceful attorney may use unconventional methods of problem solving or for creating opportunity for their clients.
A resourceful attorney should be a valuable member of your team, not merely someone who takes direction without presenting alternatives.
A resourceful attorney is available to help find a solution outside of the box. Call Levine Law, LLC at (516) 921-6700.
Harlan Levine
Tel. (516) 921-6700
[email protected]
