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How to Choose a Corporate Securities Attorney

Written by: Craig Volney Butler

Reputation Level 7

Business Corporation

Posted over 2 years ago. 1 helpful vote, 0 comments

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Review the Law Firm’s Website

When reviewing the law firm's website ask the following questions: a. Is it professional? b. Does it appear to be updated regularly? c. Does it provide biographies of the attorneys? d. Does it provide articles written by the firm’s attorneys? The firm's website it should give you a feeling the firm and its attorneys are professional and up-to-date with the rapidly changing field of corporate securities law.

Read the Attorney’s Bio

a. How long has the attorney practiced corporate securities law? b. Does the attorney/firm represent both individuals and companies? c. Do they have experience with both public and private companies? d. Do they have experience in your specific transaction (such as merger/acquisition, sale of a business, going public transactions, initial public offerings, reverse mergers, etc.)? The last of these questions may be the most important. There are many different facets of securities law and an attorney that has experience with private offerings may not have experience in taking companies public or reverse mergers or mergers and acquisitions. You want to ensure the attorney you are retaining has experience with your type of transaction or company.

Read Articles Written by the Attorney

Even if the article is not specific to your issue it will give you some feel for the attorney and their expertise. It will also give you a feel for the attorney's style. Some attorneys are are very mechanical or technical in their delivery, which can be detrimental when discussing a complex area of law to someone who may not be experienced in this area. While reading an article should never replace a telephone call or face-to-face meeting with an attorney, it will give you a good initial feel.

Ask for Client Recommendations

If you followed the steps outlined in the Guide entitled "How to Find a Corporate Securities Attorney," you may have seen client recommendations for an attorney on Avvo and/or LinkedIn, but you can still ask for some that you can speak with. Don't be afraid to call an attorney's recommendation sources as most will not have an issue talking with you about an attorney they trust and have a good relationship with.

Call the Attorney

a. If you weren’t able to talk with the attorney when you called, was your call returned promptly? b. If you were able to talk with the attorney did you feel comfortable in the conversation? c. Did the attorney explain things in a way you could understand? You can hire the brightest, most experienced attorney, but if they cannot communicate with you or if you don’t feel comfortable with the attorney, the relationship will not work. You need to feel comfortable discussing your issues with the attorney and feel they will not only give you advice, but give it to you in a way you can understand. As mentioned above, securities laws are complex and your attorney needs to be able to explain them in a way you can understand. d. Ask the attorney about their experience representing clients with companies or in transactions similar to yours.

Go Meet the Attorney (if practical)

a. This is not always possible depending on location, and is not always necessary due to so much modern business being conducted via telephone and e-mail. However, for some, an in-person meeting is essential. b. If you do meet the attorney face-to-face, did you feel comfortable in the meeting?

Review the Firm's and the Attorney’s Fees

a. Be sure to ask for all attorneys that may work your projects and the hourly rates of all those attorneys. b. Will the firm flat fee certain projects? If so, this will enable you to know for a certainty what your project will cost and you can better budget for it. Obviously, this is not always possible for all projects, particularly those that involve another represented party as negotiations and revisions may be difficult to pre-determine (for instance, a merger/acquisition transaction). However, for projects such as ’34 Act filings (10-K, 10-Q, 8-K, Section 16 filings, etc.) the firm may be able to provide you with a flat rate. c. If your company is a public company, will the firm accept any of its fees in stock? If so, what are the terms of taking stock and applying it to your bill? d. Does the firm offer flexible billing options? For instance, does the firm offer a flat annual rate for a public company’s required ’34 Act filings (one 10-K and three 10-Qs)?

Has the Attorney Ever Been Subject to a Disciplinary Action

If you followed the steps outlined in the Guide entitled "How to Find a Corporate Securities Attorney," you will likely have already discovered this information. How you use the information is up to you, but obviously it should be a red flag if the attorney has been subject to disciplinary action. This is particluarly true in the area of securities law.

Process the Information to Make a Decision

How you process the information you learn from the above sources is up to each individual. Some of the above topics/questions will be more important to some readers than others and that is to be expected, and obviously this article cannot cover everything that may be important to every individual when choosing a corporate securities attorney. However, if you follow the above steps and ask the questions that are important to you, you should have success in choosing a qualified corporate securities attorney to represent you or your company.

Additional Resources

- This Guide should be read in conjunction with the Guide entitled "How to Find a Corporate Securities Attorney" on this website for tips on how to locate attorneys with corporate securities law experience. - Both these Guides are summarized from an article entitled "How to Choose a Corporate Securities Attorney," which can be found in the Publications section of the website listed below. - For a good article regarding whether your transaction is impacted by federal and/or state securities law see an article entitled "The Long Arm of the (Securities) Law" also located in the Publications section of the website below.

The Lebrecht Group, APLC