Legal Revolution in Modern Business Planning

In recent years, the function of attorneys within corporate environments has shifted significantly. Previously viewed largely as defenders in legal disputes, their role now includes major contributions to strategic business decisions and risk management. Proactive financial planning for legal contingencies significantly influences a company’s operational success. It also potentially opens the door to additional advantages and profitability. This change reflects a deeper integration of legal insight into the core operational strategies of firms across various industries.

Cultivating a Strategic Legal Partnership – The Special Bond

Beyond budgeting, there’s immense value in establishing a proactive, rather than reactive, relationship with legal counsel. This involves forging a strategic partnership where legal experts are not seen merely as external consultants but as integral contributors to the company’s success. Such a partnership is built on understanding and alignment with the company’s business goals, culture, and operational ethos.

This special bond between attorney and client transcends transactional interactions, fostering a relationship where legal counsel proactively contributes to business strategy and decision-making.  As your relationship grows, counsel can better understand the minutiae of your operations and also your big picture goals, like your exit strategy.  This synergy not only aids in the seamless navigation of legal complexities but also ensures that legal strategies are in harmony with the company’s business objectives, thereby enhancing operational efficiency and contributing positively to the bottom line.

​​Risk Management and Innovation through Legal Insight

Legal services are broad, encompassing areas like corporate governance, contract negotiations, employment law, and intellectual property protection. Unlike criminal or family law, business legal services demand a proactive relationship-building approach to ensure timely and effective legal support.

Conveniently, legal professionals often have extensive networks across various practice areas. While their primary focus might be business law, they can provide or facilitate access to other legal areas crucial to business owners, such as estate planning or prenuptial agreements. This network is invaluable, offering comprehensive legal support tailored to both personal and business needs. Legal solutions are not just reactive but part of a holistic strategic approach to risk management and business development.

Legal as a Cost of Doing Business

Include your legal team as a line item in your budget, particularly when you are starting a new venture or going through a period of growth.  Like other expenses, taking proactive measures to incorporate legal into your operations and budget planning will help guard against risks and prevent surprises down the road.  Work with your legal team to estimate the costs of liability exposures and legal work to help you determine the right fit for your business.

At the heart of this critical intersection of financial strategy and legal planning, Baker Jenner is proud to act as the vanguard for businesses both small and large. We’re committed to partnering with CFOs and business leadership to ensure that legal services are not just seen as a cost center but as a strategic asset that can protect and enhance the company’s value. Our team is ready to help you integrate proactive legal planning into your financial strategy, ensuring your business is prepared, protected, and poised for success. Reach out to us to build a legal partnership that truly benefits your bottom line by calling (404) 400-5955.

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Baker Jenner LLLP

Baker Jenner LLLP is a business solutions law firm. We partner with clients to achieve their goals while managing transactional, regulatory, and legal risks.

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