The annual lighting of the Rockefeller Center Christmas Tree signals the beginning of the holiday season. In contrast, the end of the recession will not come in a single, dramatic moment. Comforting as statistical pronouncements may be, the “ah-ha moment” for each entrepreneur will be a feeling of empowerment to resume his or her business and economic lives.
The recession’s legacy will include new and changed regulations, business practices and ways of doing business. Decisions will be multi-faceted, including legal components. For example, I foresee small businesses forming strategic alliances to increase capacity and share risks. The analysis, negotiation and preparation of legal documents for this and countless other kinds of transactions will be more complex than ever before. In addition, previously routine transactions will become more complicated as parties seek to avoid repeating pre-recession mistakes.
There will be a heightened need for business owners to have close-by a counselor at law who is familiar with the client’s business and industry, has represented numerous other businesses, knows the regional business environment, understand the synergy between the client’s business and legal issues, possesses well-developed analytical skills, and has the ability to ask incisive questions that identify business risks and illuminate solutions and opportunities.
It is precisely this kind of relationship that the billable hour has kept beyond the reach of many entrepreneurs. Another legacy of the recession should be new relationships that allow entrepreneurs and their business attorneys to focus on the matter rather than the meter.
Posted by ankarlen1215 
