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Re: Obtaining Legal Services
Old 08-06-2005, 12:10 AM   #21
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Re: Obtaining Legal Services

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Originally Posted by TromboneAl
Well, the guy is no longer interested in purchasing the company.* *

Too bad, since it whetted my appetite for complete retirement.* So, I guess I better start looking around for buyers.
Maybe you can auction it off on eBay.
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Re: Obtaining Legal Services
Old 08-07-2005, 01:21 PM   #22
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Re: Obtaining Legal Services

How bout a sale lottery? All you need is a thousand pre-ER people putting in $1k. The sale of your company would net you $1 mil less lottery expenses. Would $950k sufficiently launch your ER?
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Re: Obtaining Legal Services
Old 08-07-2005, 02:13 PM   #23
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Re: Obtaining Legal Services

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Originally Posted by justin
Look for mid-size or larger firms.* I think you said before you're located in rural CA, so you may have to shop at the nearby Big City law firm.* It may cost more than a local general practitioner, but you'll get an expert in business law that could save you a lot of trouble and headaches (and liability) down the road.* If you have a specialized/unique business (not a muffler shop/pizza parlor/bike shop) with lots of complicated issues (environmental liability, intellectual property, patents, trade secrets, franchise agreements, etc) you might want to make sure either your attorney has experience in that area, or that someone at their firm does and that that specialized attorney will be reviewing the appropriate parts of the transaction.

For a really simple sale of something that is mostly assets, you may be able to get by on the cheap with a local/cheap attorney.* In the end, you get what you pay for.
I don't agree with this at all. I have done several smallish deals.
Even so, it can cost a fortune. I like to let the other party draw up
whatever they want (after the LOI) and then I tweak it. When I was doing this stuff I mostly used small and/or one attorney firms. Never a problem
but I knew these people very well and had used them for years. If you
have to go out and find someone, ..................now that's a horse of a different color.

JG
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Re: Obtaining Legal Services
Old 08-07-2005, 08:42 PM   #24
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Re: Obtaining Legal Services

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Originally Posted by MRGALT2U
I don't agree with this at all. I have done several smallish deals.
Even so, it can cost a fortune. I like to let the other party draw up
whatever they want (after the LOI) and then I tweak it. When I was doing this stuff I mostly used small and/or one attorney firms. Never a problem
but I knew these people very well and had used them for years. If you
have to go out and find someone, ..................now that's a horse of a different color.

JG
I agree with what you said. If you know an experienced, high quality attorney that you can retain for a low price, do it and save money.

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Re: Obtaining Legal Services
Old 08-07-2005, 09:41 PM   #25
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Re: Obtaining Legal Services

How do people know if their lawyer is high quality unless they know the law themselves or have a point of comparison? I know one lawyer in my town who is well loved by an assortment of clients. He is a goof ball and doesn't do the best job. Sure is cheap though.

We just shopped for a new dentist when our old one retired. I'm still not sure whether he is good.

Then again, I really like my doctor. She spends time with you answering all you questions and just chatting. But really, how do I know if she is any good?
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Re: Obtaining Legal Services
Old 08-08-2005, 07:13 AM   #26
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Re: Obtaining Legal Services

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Originally Posted by Martha
How do people know if their lawyer is high quality unless they know the law themselves or have a point of comparison?* I know one lawyer in my town who is well loved by an assortment of clients.* He is a goof ball and doesn't do the best job.* Sure is cheap though.*

We just shopped for a new dentist when our old one retired.* I'm still not sure whether he is good.

Then again, I really like my doctor.* She spends time with you answering all you questions and just chatting.* But really, how do I know if she is any good?
I think you have to spend a lot of time with a lawyer or other
professional (this applies to spouses also) before you really know.
My fav. lawyer of all time was with me 15 years. We could finish each others sentences.

JG
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Re: Obtaining Legal Services
Old 08-08-2005, 01:05 PM   #27
 
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Re: Obtaining Legal Services

If when I get a new buyer, I'd like to ask here for a specific recommendation for a lawyer to use for the agreement. I'd think that would work pretty well, even if the lawyer was in, for example, Louisiana. Right?
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Re: Obtaining Legal Services
Old 08-08-2005, 02:07 PM   #28
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Re: Obtaining Legal Services

Attorneys are licensed by states to practice that state's law. You live in California, run a business based in California and may end up entering into a purchase agreement governed by California law. Most likely you will need a California licensed lawyer.

This all gets rather messy sometimes trying to figure out what the limits are, with clients having businesses all over the country and doing transactions all over the country.

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Re: Obtaining Legal Services
Old 08-08-2005, 05:04 PM   #29
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Re: Obtaining Legal Services

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Originally Posted by Martha
How do people know if their lawyer is high quality...?
This sounds like the intro to a good lawyer joke!!!

Seriously, you really don't unless you have been with that lawyer for a long time and have had a good history with them. If others you know and trust use them and have been well represented, this can tend to show you they are a good lawyer.

Maybe you don't need a "good" lawyer, but rather a lawyer that is "good enough".

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Re: Obtaining Legal Services
Old 08-09-2005, 12:24 AM   #30
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Re: Obtaining Legal Services

Quote:
Originally Posted by justin
This sounds like the intro to a good lawyer joke!!!*

Seriously, you really don't unless you have been with that lawyer for a long time and have had a good history with them.* If others you know and trust use them and have been well represented, this can tend to show you they are a good lawyer.

Maybe you don't need a "good" lawyer, but rather a lawyer that is "good enough".*

I am grooming one now to be my go-to guy. He is a friend of the family,
small town, one attorney office. What sold me the most was I have
pitched several quickie questions and got good answers, and have never
received a bill. Very unusual.

JG
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