MANNING & MANNING Q&A - LAKE COUNTY BUSINESS JOURNAL
April, 2006

As a business owner, I would like to control my expenses including legal fees. Can you provide some guidelines as to when I should consult a lawyer?

Consult a lawyer when you find yourself making decisions outside of your core business. Business people are expert at their core business but when you are negotiating a lease agreement and your business is HVAC a lawyer will bring great value and comfort to the transaction. It is much more economical to consult a lawyer during the decision phase than after a crisis or emergency. One of the main reasons small businesses fail to consult a lawyer is the unknown cost associated with the service. Establish a relationship with a practicing lawyer and understand his or her fee structure. This relationship is another resource similar to your banker and accountant.

Other times to check with your lawyer are when you are: buying or selling a business, purchasing or leasing real estate, restructuring, merging, partnering, opening a new location, purchasing large equipment or securing your business for your heirs.

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Francis P. Manning
Manning & Manning Co., L.P.A.
7556 Mentor Avenue
Mentor , Ohio 44060
(440)269-8823
(440)269-8819 - fax

Providing Legal and Business Counsel with an Emphasis on Commercial Transactions, Real Estate Development, Entity Formation and Structuring, General Corporate Matters, Estate and Business Succession Planning and Probate