While you may not need legal advice on a regular basis, it probably pays for you to have a Lawyer for your company on call. That way, when you need legal advice and assistance, you'll be working with someone whom you're comfortable, and who understands the needs of your business.

When will you need legal counsel? Here are some typical situations:

• When you're deciding whether to incorporate - and need to file the appropriate paperwork
• When you're trying to write or decipher a complicated contract
• When you're threatened with a lawsuit
• When you need help collecting a debt
• When you need information on regulations pertaining to your business, and assistance in how to comply with them

Hire a Lawyer who understands your business

 Make sure that your Lawyer (and any other professional advisor) understands the specific needs of your business. When interviewing to select a lawyer, ask whether he/she has previously worked with a company such as yours - you don't want to have to pay for learning time. Has the firm worked with small businesses before? What kind? And if your industry has specialized regulatory or other legal requirements, you'll want a lawyer who is familiar with them.

Use referrals

 Referrals are the best way to find just about any service you might need, and finding an Lawyer is no exception. Talk to other small business owners, and to your banker, accountant, or other trusted advisor. You can also check with your local bar association, although not all of them verify an Lawyer's specialty or experience. A bar association referral will, of course, guarantee that a Lawyer has passed the bar exam.

Take legal services seriously

A lawyer’s time and advice are his stock in trade. It pays to remember this when relating with your lawyer and makes you appreciate services rendered.  Most entrepreneurs try to manage the cost of legal bills by   trying to get advice in a casual manner. While this may seem an attractive way to go, it does not ensure that you get the quality advice you need. A better approach is to choose a lawyer; adopt a pay as you go plan regarding his fees and agree with him that the bills will be settled at agreed intervals.

Understand your charges before you get a bill

 An Lawyer's fees will vary depending on the location of the practice, the experience of the Lawyer, the specialty, and whether you're dealing with a large firm or a small legal office.

Be aware of how the Lawyer charges. When you call for assistance, are you being charged for the time on the phone? If so, how are these charges calculated? Are there different rates depending on who works on your account - a lawyer, a researcher, a paralegal? In Nigeria, lawyers will typically charge you for consultation and a flat fee.