Business Lawyers in Minneapolis: Three Most Important Questions You Should Ask

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When you are about to hire a business lawyer to help you with a business issue, there are three fundamental questions that you need to ask him.

1. What percentage of the practice is devoted to the business law? The purpose of this question is two-fold. First, you will figure out whether this business lawyer likes handling cases in your area of law. If a Minneapolis attorney devotes more than 20% of his practice to business law, you know that he likes this area of law and will be enthusiastic about your case. This means that, in addition to his general due diligence obligations, this business lawyer will have a professional interest in your case. Second, generally, a business lawyer who devotes 20% or more of his practice to business law is likely to have good experience in this area.

2. How will I be billed? Generally, Minneapolis business lawyers will bill you on an hourly basis, particularly in a business litigation setting. They will provide you with a general estimate of your future expenses, which, understandably, will vary with the progress of the case. In corporate organization or corporate governance cases, a business attorney may also offer a flat fee option. Flat fees may also be used for some corporate document drafting or certain legal services supplemental to your business issues. For example, a business attorney in Minneapolis might charge a flat fee for a board memorandum or review of your current business lease agreement.

The more important issue with regard to this question is the manner in which you will be billed. Here, the practice varies among business lawyers in Minneapolis. Some business attorneys may require you to supply a large retainer which is later deposited in a client’s trust account; if the retainer is depleted, your lawyer may ask you to replenish it later. Other business lawyers will require a smaller retainer and will then bill you on a monthly basis. If the latter option is proposed by your business lawyer, you should ask for a sufficient time period (usually 10-14 days) to pay your bill. A mix of these options is also available. You will find that Minneapolis business lawyers, especially solo practitioners, are rather flexible in their choice of the payment mode, but, once the fee agreement is signed, they tend to be firm in insisting that you comply with the terms of the agreement.

3. Will the business lawyer devote his personal attention to your case? This question is very important, especially in the context of mid-size and large law firms, because in those firms the partner with whom you signed the agreement will generally delegate some of his responsibilities to his associates, who are generally less experienced in the area than the partner. In this case, you should insist that the business attorney with whom you signed the agreement devotes his personal attention to your case and delegates only marginal matters to his associates. Generally, business lawyers in Minneapolis who operate as solo practitioners or in small firms do not have similar problems.

The other important issue involved in this question is whether your business attorney is generally responsive to your calls and keeps you up-to-date with respect to the progress of your case. Most business lawyers in Minneapolis are very busy people; yet, you must insist that you would be able to communicate with them. In my practice, I devote a great deal of energy and time to make sure that my clients do not feel neglected and have the latest information about their case. For example, my firm has a rule of returning most calls within two hours after the client calls. I also make sure that the communication details are discussed during the first meeting. Usually, in additional to bi-weekly phone updates, I also send out a monthly written update, which generally includes a brief summary of events and copies of all relevant documents and materials, including communications with the other party.

In conclusion, by asking these three questions to business attorneys in Minneapolis, you will make sure that the business lawyer you are choosing is congruent to your interests and character.

Contract Lawyers in Minneapolis: Three Most Important Questions You Should Ask

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When you are about to hire a contract lawyer to help you with a contract issue, there are three fundamental questions that you need to ask him.

1. What percentage of the practice is devoted to the contract law? The purpose of this question is two-fold. First, you will figure out whether this contract lawyer likes handling cases in your area of law. If a Minneapolis attorney devotes more than 15-20% of his practice to contract law, you know that he likes this area of law and will be enthusiastic about your case. This means that, in addition to his general due diligence obligations, this contract lawyer will have a professional interest in your case. Second, generally, a contract lawyer who devotes 20% or more of his practice to contract law is likely to have good experience in this area.

2. How will I be billed? Generally, Minneapolis contract lawyers will bill you on the hourly basis. They will provide you with a general estimate of your future expenses, which, understandably, will vary with the progress of the case. In contract drafting situations, a contract attorney may also offer a flat fee option, but, usually, there will be an additional charge when contract modifications are likely. Flat fees are almost never used in contract litigation.

The more important issue with regard to this question is the manner in which you will be billed. Here, the practice varies among contract lawyers in Minneapolis. Some contract attorneys may require you to supply a large retainer which is later deposited in a client’s trust account; if the retainer is depleted, your lawyer may ask you to replenish it later. Other contract lawyers will require a smaller retainer and will then bill you on a monthly basis. If the latter option is proposed by your contract lawyer, you should ask for a sufficient time period (usually 10-14 days) to pay your bill. A mix of these options is also available. Finally, in a contract drafting situation, some contract attorneys require a large flat fee right away with modifications paid for later upon completion of the contract. You will find that contract lawyers in Minneapolis, especially solo practitioners, are rather flexible in their choice of the payment mode, but, once the fee agreement is signed, they tend to be firm in insisting that you comply with the terms of the agreement.

3. Will the contract lawyer devote his personal attention to your case? This question is very important, especially in the context of mid-size and large law firms, because in those firms the partner with whom you singed the agreement will generally delegate some of his responsibilities to his associates, who are generally less experienced in the area than the partner. In this case, you should insist that the contract attorney with whom you signed the agreement devotes his personal attention to your case and delegates only marginal matters to his associates. Generally, contract lawyers in Minneapolis who operate as solo practitioners or in small firms do not have similar problems.

The other important issue involved in this question is whether your contract attorney is generally responsive to your calls and keeps you up-to-date with respect to the progress of your case. Most contract lawyers in Minneapolis are very busy people; yet, you must insist that you would be able to communicate with them. In my practice, I devote a great deal of energy and time to make sure that my clients do not feel neglected and have the latest information about their case. For example, my firm has a rule of returning most calls within two hours after the client calls. I also make sure that the communication details are discussed during the first meeting. Usually, in additional to bi-weekly phone updates, I also send out a monthly written update, which generally includes a brief summary of events and copies of all relevant documents and materials, including communications with the other party.

In conclusion, by asking these three questions to contract attorneys in Minneapolis, you will make sure that the contract lawyer you are choosing is congruent to your interests and character.

Eugene Sherayzen re-appointed to the MSBA Publications Committee

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On June 30, 2009, Eugene Sherayzen was re-appointed to the Minnesota State Bar Association Publications Committee. The Committee is responsible for overseeing the budget and publication of the most important Minnesota legal journal, “Bench & Bar”.

International Law

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Balancing Money and the Earth

Sherayzen Law Office is one of the few boutique law firms in the Midwest that is able to offer high-quality international business and tax legal services to its clients throughout the United States.  Irrespective of the state (and, where necessary, country) in which our clients reside, we have been able to harness new affordable technology to provide up-to-date and personalized conduct of our clients’ cases.

Our international law services are designed to complement each of our major areas of practice in the United States.  This ability to advice our clients on the U.S. as well as international aspects of a case constitutes one of the most prominent advantages of retaining Sherayzen Law Office.

We organized our international law practice in three distinct divisions:  international contract law division, international tax law division, and international trade law division.

International Contract Law Services: international contract drafting and negotiation, consultation/review of international contracts, international contract litigation, international employment contracts (including expatriates)

International Tax Law Services: International/U.S tax compliance (FBARs, FATCA disclosure, Foreign Corrupt Practices Act ), ownership of foreign corporation disclosure, ownership of foreign partnership disclosure, anti-money laundering compliance,  international tax planning (in case of individuals, combined with international estate planning)

International Trade Law Services: international business transactions, foreign investment in the United States (including business organization for foreign investors), international copyright and trademark protection, international business litigation, international business tax planning

While providing our international law services, we emphasize three aspects of our business model: customization, thorough protection of your interests and personal attention.

  1. Customization: every legal situation is different and we customize our legal tools to address your special business and individual needs!
  2. Protection of your interests: we strive to offer maximum foreseeable protection of your business and personal interests! This means that when we provide our international legal services, we seek to guard you against the future hazards that commonly occur in a situation similar to yours, and we address the potential problems that might arise from the specific circumstances of your case.
  3. Personal attention: throughout our representation of you, your attorney will work with you personally! You will have an easy access to your attorney and a prompt answer to your questions.

As always, our main goal is to achieve the most satisfactory result for the client so that you and your business can find your own Legal Way Forward!

Call Now to discuss your legal needs: (952) 500-8159!

Recent Posts in the International Trade category:

Significance of Income Source Rules in International Tax Law

Definition of Foreign Earned Income for the purposes of Foreign Income Exclusion under I.R.C. §911

Understanding Foreign Income Exclusion under I.R.C. §911: General Information

Eugene Sherayzen joins the MSBA Publications Committee

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On January 28, 2009, Eugene Sherayzen was appointed to the Minnesota State Bar Association Publications Committee. The Committee is responsible for overseeing the budget and publication of the most important Minnesota legal journal, “Bench & Bar”.