We've recently been discussing things like online legal research for your law firm and necessary law firm businesses licenses, and I thought I might as well move on to malpractice insurance for your law firm. And believe it or not, it does not have to break the bank (assuming, of course, that you don't have a slew of bar complaints following you around).
My search for legal malpractice insurance began, honestly, because I needed it for eligibility for my King County's assigned counsel (indigent counsel) panel. They require a certain level of insurance to be on the panel. No insurance, no panel.
As I start most of my other law firm business searches, I looked to my fellow attorneys in the area for guidance. Most kept coming back to one name - Main Street Financial (I think). They work exclusively with smaller firms and have very competitive rates.
After talking with those people, I consulted my bar association recommendations (really just a list) and sent out emails asking for quotes. Because I practice criminal defense and eminent domain, I don't present a very big threat from an exposure standpoint, so I wasn't worried about having to pay ridiculous premiums (I also have a spotless record, which doesn't hurt). My premium ended up being $719 for the year, payable in installments. I didn't think that was all bad. Plus I have some serious coverage now in case I get in trouble.
Bottom line, when you are starting a law firm and doing your research for legal malpractice insurance, talk to your fellow local attorneys, do some web research, and reach out to several insurers. Then pick the one that is best for you. (I know this doesn't cover at all what type of coverage you should get, because, honestly, I have no idea. My decisions were based on the indigent counsel requirements.)
While I have your eyes, I did want to mention something else, completely off topic. I flew to Omaha this weekend for a wedding and picked up a book called "The E-Myth Revealed" that you must read if you are starting a law firm. A primary reason I started my firm was not only to work for myself and help people out who really need it, but to make a good living for my family. I define making a good living for my family as not only making money, but making myself available to them. Before reading the book I knew that meant streamlining and refining my law firm into a set of systems that can be learned and followed by those in my firm. What I didn't know before reading this book was how to create and implement such a system.
This book discusses and analyzes the major roadblocks to creating and sustaining a successful business (this is a business book, not a law firm book). If you are serious about creating something successful, something you can eventually manage, something you can teach others to do, and maybe even sell (gasp!), I would highly recommend this book.
And one other tangent. I don't want to brag, and I almost feel bad mentioning it because I haven't talked about it on my other blog about law firm website and online marketing, but I launched my website this week, and with the groundwork I've put in over the last few months I am already number one for my main targeted keyword and on page 8 of the second (the second has about 1.4 million pages dedicated to it already, so being in the top 90 after one week is a good start). On top of that, I've already received calls from people who have visited my website. Some of the groundwork is already up over at the other blog. You can definitely get started now making your law firm successful, even if you see yourself months away from opening.
Thursday, May 28, 2009
Friday, May 22, 2009
How to Start a Law Firm | Online Legal Research Providers
In what I think is the second installment of my race to catch all of you up with what I've been doing (I discussed law firm business licenses a couple of days ago), I'm here to talk today about online legal research providers - in particular, my journey to deciding on what to do for my legal research needs.
When I started out figuring out what I was going to do with legal research, I bandied about the thought of trying to use some of the free online resources that are available out there. I can really only think of justia, I think, right now, but I know there are others out there. And, actually, let me back up for one moment and give you an overview of my experiences with online research.
First, I went to law school 2002-2005. Believe it or not, I think that was about the time the true online legal research explosion was beginning to really take hold. In our legal research and writing class, for the first semester we actually had to go to the library and sift through the case books to do our legal research! I'm not sure if they do that today or not, but what a waste of a semester. And what did they say "what are you going to do if you can't find it online?" Trust me, if I can't find it online, something so major has happened that it doesn't matter.
I think when I was in law school Lexis won the battle to be our teacher of legal research. So I kind of "grew up" with them. And after getting to experience what they have to offer (and Westlaw too), I don't know how you could ever want to go to the bookshelves to do legal research. After law school I went back and forth from westlaw to lexis, depending upon my job. I thought they were both fine. They both are intuitive in their own respects, and it takes a little time to become familiar with both services.
So, back to present day. I tried the free stuff and I couldn't get past the lack of shepardizing the cases. Often the best cases I find are those that show up in the shepardizing research screen. And it is a little nerve racking not knowing if the great case you just found is or isn't currently good law. So, paid legal research was the way for me.
I contacted both lexis and westlaw and figured I'd go with the cheaper option. Lexis called me the same day and had a proposal to me by the next. And the guy called me every day for a week to discuss a proposed plan and see if what he was offering was what I was looking for (and he knew I wouldn't be buying for about a month because I wasn't doing anything until I got my bar results). Westlaw got back to me about 10 days later and then followed up a week after that.
Even though Lexis was a bit pricier (it is going to cost me $125/month for Washington, 9th circuit, and supreme court vs. $100/month from westlaw for the same thing) I was impressed with the service lexis was providing before I even signed up, so I went with them. As a new small business owner, I thought long and hard about the attention I received when two people are competing for my business, I want the service to work and I want to be able to get help if I can't figure it out. Lexis does that for me. So, even though it was not the last legal research tool I used, I'm back with them.
So, when starting a law firm, make sure you get everything you need, and nothing less. Recognize that price isn't everything for the services that you'll be purchasing (it isn't everything with your services is it? I know I'm not the cheapest attorney in town). Look for the hidden value that may exist.
When I started out figuring out what I was going to do with legal research, I bandied about the thought of trying to use some of the free online resources that are available out there. I can really only think of justia, I think, right now, but I know there are others out there. And, actually, let me back up for one moment and give you an overview of my experiences with online research.
First, I went to law school 2002-2005. Believe it or not, I think that was about the time the true online legal research explosion was beginning to really take hold. In our legal research and writing class, for the first semester we actually had to go to the library and sift through the case books to do our legal research! I'm not sure if they do that today or not, but what a waste of a semester. And what did they say "what are you going to do if you can't find it online?" Trust me, if I can't find it online, something so major has happened that it doesn't matter.
I think when I was in law school Lexis won the battle to be our teacher of legal research. So I kind of "grew up" with them. And after getting to experience what they have to offer (and Westlaw too), I don't know how you could ever want to go to the bookshelves to do legal research. After law school I went back and forth from westlaw to lexis, depending upon my job. I thought they were both fine. They both are intuitive in their own respects, and it takes a little time to become familiar with both services.
So, back to present day. I tried the free stuff and I couldn't get past the lack of shepardizing the cases. Often the best cases I find are those that show up in the shepardizing research screen. And it is a little nerve racking not knowing if the great case you just found is or isn't currently good law. So, paid legal research was the way for me.
I contacted both lexis and westlaw and figured I'd go with the cheaper option. Lexis called me the same day and had a proposal to me by the next. And the guy called me every day for a week to discuss a proposed plan and see if what he was offering was what I was looking for (and he knew I wouldn't be buying for about a month because I wasn't doing anything until I got my bar results). Westlaw got back to me about 10 days later and then followed up a week after that.
Even though Lexis was a bit pricier (it is going to cost me $125/month for Washington, 9th circuit, and supreme court vs. $100/month from westlaw for the same thing) I was impressed with the service lexis was providing before I even signed up, so I went with them. As a new small business owner, I thought long and hard about the attention I received when two people are competing for my business, I want the service to work and I want to be able to get help if I can't figure it out. Lexis does that for me. So, even though it was not the last legal research tool I used, I'm back with them.
So, when starting a law firm, make sure you get everything you need, and nothing less. Recognize that price isn't everything for the services that you'll be purchasing (it isn't everything with your services is it? I know I'm not the cheapest attorney in town). Look for the hidden value that may exist.
Tuesday, May 19, 2009
How to Start a Law Firm | Business Licenses
One of the first things I did after I received my bar results to start my law firm was get my business licenses. Why? A couple of reasons. First, in my state, you need them to work, to open a bank account, and for anyone to take you seriously. Second, they are a good first step in the process, because they are easy to fill out, easy to get, fairly cheap, and they make you feel like you accomplished something.
The first license I filled out technically isn't a license, but it was necessary to get everything else going. It was my LLC filing. In Washington, you can do everything online, taking only about 30 minutes, max, and it costs $200.00. You get next day confirmation of the establishment of your LLC (and your name) and away you can go.
Some of you may be asking why the LLC for an individual? Isn't it kind of overkill? Right now, yes it is. But it does a couple of things that were important to me. First, the immediate thought of people that hear the name of my law firm (which is not my name) is that I am not a one man show. I think, no matter how proud you are to be a solo, that there is some truth to the thinking that people have a slightly skewed view of solo practitioners, at least until you can get them in the door. A good name gives me a little bit of credibility right off the bat, at least I feel like that (and if you don't, that's okay too!). Second, it allows me to grow, when the time is right, without a lot of pain, and with protection.
Once the LLC was established, I did step two - got a federal employment identification number. This is a really easy process, is free, and is important for when you have to pay the man at tax time. I'd highly recommend getting one when you open your law firm. I filled out the form in less than twenty minutes and immediately had confirmation and an FEIN.
License number three was a Washington Master Business License. Washington is one of those great states that doesn't have an income tax. While this is great for some, for others, like a small law firm owner, it means they get taxed to make up the difference. The Business License gives you a Washington form of the FEIN so they can track you down and make you pay taxes at tax time. While this is easy to fill out electronically, it has taken me a few days to actually get the certificate I need (banks require verification of a WMBL to open an account too). I should be getting that any day. Cost - $15.
The final license I had to get was a Seattle business license - like I said, no income taxes, so they get you coming and going (although I honestly don't know if I'll have to pay any city tax - I'm sure they will let me know). This application process was a little more involved because it must be completed and faxed in. I don't know if you necessarily need this to own a law firm in Seattle, but (and this is my only slight tangent for this post) the one thing I've learned and decided about my practice is that it is going to be done right, above the table, at all times. As the owner of a law firm you have even more responsibility as an attorney because you represent the best and brightest out there. It takes a lot of guts, ambition, and perseverance to open a successful law practice, and if you do it the wrong way it is magnified across the entire community. That's all the preaching I have in me for today.
Those are all the licenses I think I need to open up. So I'm all set with that. If you are curious about what you need, check out the Secretary of State's website (business formation), the Department of Licensing's website (if you have one), and your local city government cite. And if you can't find anything pick up the phone and call someone. Believe it or not, some person's job is to answer these exact questions. Let's put them to work!
Up next, on how to start a law firm, online legal research.
The first license I filled out technically isn't a license, but it was necessary to get everything else going. It was my LLC filing. In Washington, you can do everything online, taking only about 30 minutes, max, and it costs $200.00. You get next day confirmation of the establishment of your LLC (and your name) and away you can go.
Some of you may be asking why the LLC for an individual? Isn't it kind of overkill? Right now, yes it is. But it does a couple of things that were important to me. First, the immediate thought of people that hear the name of my law firm (which is not my name) is that I am not a one man show. I think, no matter how proud you are to be a solo, that there is some truth to the thinking that people have a slightly skewed view of solo practitioners, at least until you can get them in the door. A good name gives me a little bit of credibility right off the bat, at least I feel like that (and if you don't, that's okay too!). Second, it allows me to grow, when the time is right, without a lot of pain, and with protection.
Once the LLC was established, I did step two - got a federal employment identification number. This is a really easy process, is free, and is important for when you have to pay the man at tax time. I'd highly recommend getting one when you open your law firm. I filled out the form in less than twenty minutes and immediately had confirmation and an FEIN.
License number three was a Washington Master Business License. Washington is one of those great states that doesn't have an income tax. While this is great for some, for others, like a small law firm owner, it means they get taxed to make up the difference. The Business License gives you a Washington form of the FEIN so they can track you down and make you pay taxes at tax time. While this is easy to fill out electronically, it has taken me a few days to actually get the certificate I need (banks require verification of a WMBL to open an account too). I should be getting that any day. Cost - $15.
The final license I had to get was a Seattle business license - like I said, no income taxes, so they get you coming and going (although I honestly don't know if I'll have to pay any city tax - I'm sure they will let me know). This application process was a little more involved because it must be completed and faxed in. I don't know if you necessarily need this to own a law firm in Seattle, but (and this is my only slight tangent for this post) the one thing I've learned and decided about my practice is that it is going to be done right, above the table, at all times. As the owner of a law firm you have even more responsibility as an attorney because you represent the best and brightest out there. It takes a lot of guts, ambition, and perseverance to open a successful law practice, and if you do it the wrong way it is magnified across the entire community. That's all the preaching I have in me for today.
Those are all the licenses I think I need to open up. So I'm all set with that. If you are curious about what you need, check out the Secretary of State's website (business formation), the Department of Licensing's website (if you have one), and your local city government cite. And if you can't find anything pick up the phone and call someone. Believe it or not, some person's job is to answer these exact questions. Let's put them to work!
Up next, on how to start a law firm, online legal research.
Monday, May 18, 2009
Starting a Law Firm | What I've Been Up to Lately
It's been almost a month since I put any content up here, and I bet all of you are just salivating to get some more information. Well, you are lucky, because I've got a lot to share.
I kind of went quiet there the last couple of weeks for several reasons. First, I was doing a lot of work on internet marketing for my law firm. The key to getting clients is to let them know you are out there. The key to letting them know you are out there is putting yourself in places where they can find you. And putting yourself in places where they can find you, unless you have a ton of money at your disposal, take a lot of elbow grease. I promise to talk more about that here later, and in much more depth at my law firm website marketing blog, which you can find by clicking the link.
Second, I finally got my bar results back. And, although I'm sure those of you that knew this date was approaching were nervous because I didn't write for so long, I passed. Once I passed, that opened up the floodgates of things to do to start my law firm and get up and running (which, I am pleased to admit, I am open today - though no one is ringing my phone yet!). These things are all of the things that you know about, and things I'm going to write about, including:
As you can see, I've been very busy in the last few weeks opening my criminal defense firm, with most of the time spent on web site development and content development. As I write about each of the above listed things I'll link to that post so you if you ever want to come back here and go down the list you can (and I plan on writing about one of these topics every day until they are done).
At this exact moment I am debating whether or not to let you know who I am. It isn't so much that I care if you all know who I am - I think this information probably carries more weight if it is coming from someone you know - but I wouldn't necessarily want a client googleing me and stumbling upon this sight, if for no other reason than a lot of what I'll be talking about moving forward will be my successes and failures from a business generation standpoint.
Although we all know whenever we enter into a situation to buy services we are going to be sold on some level, I think it makes it a lot harder if people think you have actually taken time and prepared to sell them on your services, even if you are in the business to make sure they get help (which I am). I think I've just convinced myself to keep my identity quiet for a little while longer. Although when my website is done, I'll show it to you on my legal marketing blog.
I think this is probably enough for now. Just remember that once you get started is when all the work actually begins. So get out there, plug away, and good luck starting your own law firm.
I kind of went quiet there the last couple of weeks for several reasons. First, I was doing a lot of work on internet marketing for my law firm. The key to getting clients is to let them know you are out there. The key to letting them know you are out there is putting yourself in places where they can find you. And putting yourself in places where they can find you, unless you have a ton of money at your disposal, take a lot of elbow grease. I promise to talk more about that here later, and in much more depth at my law firm website marketing blog, which you can find by clicking the link.
Second, I finally got my bar results back. And, although I'm sure those of you that knew this date was approaching were nervous because I didn't write for so long, I passed. Once I passed, that opened up the floodgates of things to do to start my law firm and get up and running (which, I am pleased to admit, I am open today - though no one is ringing my phone yet!). These things are all of the things that you know about, and things I'm going to write about, including:
Business licenses for your law firm
Legal research providers
Malpractice insurance
Office space
Phone and fax
Intake procedures
Law firm marketing
Law firm management (creating processes to reduce work and provide a consistent experience for all clients)
Law Firm Website construction/optimization
Fee agreements
Welcome letter
Pre-meeting letter
Information related to practice areas
Google maps listing/business directories (for free)
Accepting credit cards
Google applications for email and calendar management (I'm a Google junkie if you couldn't tell)
Facebook for your firm
Business cards
Bank accounts
As you can see, I've been very busy in the last few weeks opening my criminal defense firm, with most of the time spent on web site development and content development. As I write about each of the above listed things I'll link to that post so you if you ever want to come back here and go down the list you can (and I plan on writing about one of these topics every day until they are done).
At this exact moment I am debating whether or not to let you know who I am. It isn't so much that I care if you all know who I am - I think this information probably carries more weight if it is coming from someone you know - but I wouldn't necessarily want a client googleing me and stumbling upon this sight, if for no other reason than a lot of what I'll be talking about moving forward will be my successes and failures from a business generation standpoint.
Although we all know whenever we enter into a situation to buy services we are going to be sold on some level, I think it makes it a lot harder if people think you have actually taken time and prepared to sell them on your services, even if you are in the business to make sure they get help (which I am). I think I've just convinced myself to keep my identity quiet for a little while longer. Although when my website is done, I'll show it to you on my legal marketing blog.
I think this is probably enough for now. Just remember that once you get started is when all the work actually begins. So get out there, plug away, and good luck starting your own law firm.
Subscribe to:
Posts (Atom)
