Do you feel that the Business Legal Lifecycle won’t work for your business? Do you think that your business is unique and requires more specialist advice? We have business owners come to us after finding out about what we do and they have stated that we can’t help them because of these reasons.
This attitude to business often leads business owners to use their ‘uniqueness’ as an excuse not to ever take action on their business. In this article we will discuss the two main excuses that we hear, and how we respond to those excuses
The Business Legal Lifecycle won’t work for my business
Our Legal Risk Assessment was developed to provide high level advice to your business assessing where you are in the lifecycle of your business, what are your primary legal risks and help you plan for the future to mitigate those risks. For this reason it works across businesses and industries to identify the common legal risks in businesses. We examined well over 5,000 businesses and worked out what worked well and what didn’t work well, this helped us develop the lifecycle for all types of businesses.
My business is unique and requires specialist advice
We agree, your business is unique and every business is unique in the way you implement what you do. There are very few businesses that are truly unique in any market. The truth of it is that whilst your business is unique the legal risks and business of running your business is the same across different businesses and industries.
There are noticeable and predictable patterns that all businesses will go through and what we have mapped out is what successful businesses do and when they take those steps. We matched this to where failed businesses take different steps and developed the lifecycle. It will help you to become proactive in your business so that you reduce the common legal risks in your business.
About Business Legal Lifecycle
At Business Legal Lifecycle we know that dealing with a lawyer can be difficult, it can seem daunting and costly. That is why we have designed our Legal Risk Assessment and Education Course to help you to understand the law without a law degree. Without knowledge you don’t know your legal risks which could cost you a lot in the future.
By working together with the Business Legal Lifecycle lawyers can help their clients to prevent legal risks within their business and prevent so many problems that commonly afflict small to medium sized businesses.
Get your Business Legal Lifecycle Legal Risk Assessment by clicking here now.
Still unsure check out the legal foundations for your business with our free “workbook” (to be written)
You may be thinking what’s the point of the Business Legal Lifecycle Risk Assessment if it doesn’t solve my legal problems?
Having a comprehensive report of your business already prepared that you can take to your lawyer will save you both time and money.
Avoiding looking for legal risks
Unfortunately, when a business owner avoids the legal risks in their business they are opening up their business, colleagues and family to the stress that comes with legal problems in a business. Just because you avoid a risk doesn’t mean it will go away. In fact it will only get worse and the risk will only increase if you avoid dealing with the risk head on.
It will save you time
The online Risk Assessment is designed to be quick and easy to do. It asks around 30 questions and should take you about 10 minutes. It is designed to give you a snapshot of your legal risks by identifying what you have in your business and what you are missing. By identifying which phase you are in, in the Business Legal Lifecycle you will understand better what your legal gaps are in your business so that you can plug them.
It will save you money
The Risk Assessment is specifically designed to produce a report that you can take to your lawyer so that they can help to mitigate the legal risks. Generally, to obtain this type of advice from a lawyer would require an investment of around $1,000.00 (or 1,000.00 pounds) so that the lawyer can interview you, obtain all of your information and then write the report. Alternatively, often lawyers may try to do this advice for free and then charge you more when they implement and do the work.
Take it to your lawyer
Understanding exactly what it is that you need to do and why is crucial before you take it to your lawyer. This will empower you with the knowledge of what and why these legal risks are important so that when you meet with your lawyer you can properly implement what is needed in your business. If you don’t have a lawyer, we can refer you to a lawyer that will be able to assist you in implementing the recommendations in the report for your business.
The step of taking it to a lawyer can often be skipped because you may be tempted to just try and do the work yourself. This is a mistake as a lawyer will be able to properly help you implement the right steps to protect your business. It will cost you a lot more to do that then to invest in a lawyer to assist you in implementing the reports recommendations.
About Business Legal Lifecycle
At Business Legal Lifecycle we know that dealing with a lawyer can be difficult, it can seem daunting and costly. That is why we have designed our Legal Risk Assessment Tool and Education Course to help you to understand the law without a law degree. It is often difficult to understand the costs that you will save by taking a proactive approach (by its very nature a proactive approach saves you money that you would otherwise spend) but trust us that the savings are huge.
By working together with the Business Legal Lifecycle lawyers can help their clients to prevent legal risks within their business and prevent so many problems that commonly afflict small to medium sized businesses.
Get your Business Legal Lifecycle Legal Risk Assessment by clicking here now.
You may be thinking why would I complete the Business Legal Lifecycle Risk Assessment myself when I can just go to my lawyer and get this advice. That is a great question, after all that is what you have a lawyer for, right? The purpose of this article is to provide you with the answer to that question.
The Business Legal Lifecycle Risk Assessment produces a comprehensive report of your business. This then empowers you to go to see your lawyer knowing that you already know what your legal risks are and therefore are prepared for your meeting with your lawyer that will save you both time and money.
The Risk Assessment can be completed online in around 15 minutes and best of all you can complete it at a time that suits you. That means you don’t have to take time out of your business to go to your lawyer and sit with them while they ask you questions. Then wait for a week or two while they prepare the report about your legal risks.
Having all of the information set out in the report ensures that there is nothing overlooked. The report clearly outlines what you have in place for your business and what is missing from a legal perspective.
This then results in your lawyer having to spend far less time gathering information from you and can focus on what needs to be done going forward. The general cost of getting this advice from a lawyer would be around $1,000.00 so it is a huge cost saving for you in lawyer’s fees.
If you are thinking that the Business Legal Lifecycle can’t replace legal advice then you would be 100% correct. It is not designed to replace legal advice, in fact it’s quite the opposite!
How you can use it to better work with your lawyer
It doesn’t matter how long you have had the relationship with your lawyer there will be aspects of your business that your lawyer doesn’t know about. There are also going to be areas of the law that you don’t know could be a problem.
Nothing substitutes for tailored advice
The Business Legal Lifecycle will give you a fundamental understanding of what you need to do, why you need to take that step and whether you need to take any other steps. However, your situation will be unique to you, that is why you need to get tailored advice from your lawyer that will apply to you and your business.
The Business Legal Lifecycle Legal Risk Assessment gives you a report that sets out what is missing in your business, why you need to prevent those legal risks and a plan for the future of your business. Importantly you can take it to your lawyer to then do the work that they are good at, preventing those legal risks within your business and you get all of this without the cost of a lawyer preparing the report in the first place.
About Business Legal Lifecycle
The Business Legal Lifecycle Legal Risk Assessment and Education Course are designed to help you to understand the law without a law degree. Without knowledge you don’t know your legal risks which could cost you a lot in the future.
By working together with the Business Legal Lifecycle lawyers can help their clients to prevent legal risks within their business and prevent so many problems that commonly afflict small to medium sized businesses.
Get your Business Legal Lifecycle Legal Risk Assessment by clicking here now.
Still unsure check out the legal foundations for your business with our free “workbook” (to be written)
There are many different lawtech and legaltech tools on the market that are designed to make legal advice accessible for business owners. Most of them do a great job and you need to find the ones that do the job for you that you need. The Business Legal Lifecycle Risk Assessment is designed to identify your legal risks to allow you to work with your lawyer to reduce those legal risks.
From our research the main factors that people look for in a tool like this are:
- Simple and easy to use interface
- Comprehensive advice on legal risks through all stages of a business
- Explanation for the business owner so that they can understand why they need to take steps
- Documented plan for the future success of the business
- Plain English/easy to understand
- Document generation
- Document management.
- Cost effective.
In this article we will discuss what generally business owners should expect from each of the tools that exist in the market today. The table below sets out the comparison of the features of the different tools (and existing law firms). Remember, that when you are considering this list and the considerations below, you need to keep in mind what you are trying to achieve. Each tool will use a different system to assist you so pick the one that best aligns with what you want.
Simple and easy to use interface
Any tool that you find on the internet needs to be easy to use otherwise it can be too hard to achieve the result that you are looking for. The interface and instructions on what you need to do need to be complete and in plain English. For the lawtech tools featured in the comparison that is an entry level requirement, they must have a simple interface or they weren’t even considered for our list.
The comparison to a law firm undertaking the check is simple that law firms that offer this service on the internet use this as a reason for you to have a meeting with them to conduct the assessment. This is often not a simple process as law firms generally do not have a systemised process to these questions and require an in-person meeting that will cost you a lot of money and time.
Comprehensive advice on legal risks through all stages of a business
There are so many different variables that you need to be across for the legal risks of your business. No report can cover every single aspect and the only way to get specific advice for your business is to meet with a lawyer to do the check or work with a service like legalvision to connect you with one. The comprehensive nature of the Business Legal Lifecycle report, does go through the reasons why you need to take legal advice and considers the main legal risks that we see in businesses. It explains why you need to consider those items and what you need to do once you have considered those risks.
The other lawtech tools considered in this report do not provide advice on why you need to take legal steps to reduce certain risks in your business. They merely state what you should do and then attempt to upsell you into that service. This means that you never know exactly why you need to take legal steps. This knowledge is important as when you decide to go with a different lawyer or obtain advice from another source it may be different because the explanation and your understanding of the law is different.
Explanation for the business owner so that they can understand why they need to take steps
Again, this is a feature that lawyers mostly provide although some will just expect you to follow their advice without any explanation as to why you need to take legal steps. One of the key features of our Legal Risk Assessment is that it not only tells you what you need to do but why you need to do it. As set out above, that knowledge allows you to know why steps are to be taken and what you need to do with that knowledge.
This is another reason why we developed our education course, to give you a deeper understanding on the legal risks in your business. Once you understand the legal risks you can then do your best to minimise the risk going forward.
Documented plan for the future success of the business
Going with the last two features is having a plan for the future of your business. Unfortunately, the other lawtech tools in the market do not provide that future look into your business. They consider what you need now to reduce your legal risks with no foresight into the future. Our Legal Assessment Report is designed to give you that guidance into the future. By assessing where you are in the lifecycle of your business we can then help you to understand what is next so that you can plan for the future success of your business.
Most lawyers when performing a health check are merely looking backwards and what the legal risks are for your business as they stand at the time of the check. The problem with this, is that it requires you to get advice and spend lots of money getting that advice regularly so that you can figure out what else is missing.
Plain English/easy to understand
Our research has shown that most people when dealing with lawyers and lawtech tools dislike (and even hate) when they are confronted by complicated legal terms that could have been explained in plain English. A common complaint from business owners that we talk to is that it feels like the lawyer is talking down to them because of the language that they use. This is unfortunate as all law can be explained in plain English. Our report outlines everything that you need and need to understand in plain English so that you can understand what and why you need to take these legal steps.
Document generation
This is a feature that is becoming more and more prevalent in lawtech tools. Currently the technology only really allows for a ‘fill in the blanks’ exercise when generating legal documents. For a lot of legal areas this may work, the issue is that it takes no account of the nuances of your legal position and risks. As artificial intelligence develops and becomes more cost effective the technology will become better and will allow this to occur.
Document management
This is a feature that some people find useful and is available on several lawtech tools. It creates a space for you to store all of your legal documents. This is a useful feature if you don’t have another space to store them or want everything saved in one place. Once it becomes worthwhile to generate documents on our platform we will include this feature.
Cost effective
When taking legal advice you need to invest your hard earned money where you will receive the best return on your investment. Most of the lawtech tools that we have found in our research are cost effective in providing you with advice. They generally are not expensive and provide you with a path forward it a comprehensive way. When you receive this advice from a lawyer generally it will cost a lot more as lawyers will charge on time to complete the assessment.
Our Legal Risk Assessment will actually save you money in the long term by empowering you with the confidence and knowledge to prevent the legal risks in your business. You can then go to your lawyer to reduce your legal risks to prevent legal risks within their business and prevent so many problems that commonly afflict small to medium sized businesses.
Get your Business Legal Lifecycle Legal Risk Assessment by clicking here now.
Still unsure check out our “ebook” (to be written)
Lawtech or legaltech technologies are software applications that are designed to make legal advice accessible for business owners. Most of them do a great job and you need to find the ones that do the job for you that you need. The Business Legal Lifecycle Risk Assessment is designed to identify your legal risks to allow you to work with your lawyer to reduce those legal risks.
The purpose of this article is to explore some different lawtech/legaltech examples. If you want to see how they compare visit this page – Comparison of Lawtech.
Lawpath
This is an Australian tool that is designed to help you create legal documents, manage compliance and connect with lawyers. It is a platform that allows you to do all of these things in one easy to use interface. It has a library of over 350 legal documents that you can use as a starting point for what you need in your business.
Intellex
Is a tool that is designed more for lawyers to assist them in helping deliver solutions for their clients. Its easy to use interface helps to educate law firms by providing a library for internal knowledge. It also specialises in assisting crypto and fintech business by providing advice and resources tailored for those businesses. You will still need to work with a lawyer to fully customise the documents for your business.
Legal Vision
One of the best known legal businesses in the legaltech/lawtech space. It is a full service business law firm that provides traditional legal services through their website.
Business Legal Lifecycle
These different lawtech/legaltech tools do not service the need of identifying legal risks in businesses.
Our Legal Risk Assessment will actually save you money in the long term by empowering you with the confidence and knowledge to prevent the legal risks in your business. You can then go to your lawyer to reduce your legal risks to prevent legal risks within their business and prevent so many problems that commonly afflict small to medium sized businesses.
Get your Business Legal Lifecycle Legal Risk Assessment by clicking here now.
Still unsure check out our “ebook” (to be written)
Lawtech or legaltech technologies are software applications that are designed to make legal advice accessible for business owners. Most of them do a great job and you need to find the ones that do the job for you that you need. The landscape of tools is constantly evolving and we see 5 areas to watch in 2022:
- Artificial intelligence
- Legal automation
- Contract and document automation
- Workflow automation
- Client and law firm collaboration
Artificial intelligence
Artificial intelligence (or AI) have been buzzwords around many different industries for a number of years. The predictions are that AI will force change and innovation through all sectors of the economy including law. The truth is that the development of AI is already well advanced and as the tools become cheaper they will become more accessible to all people.
As a growing area this is definitely one to watch, it is generally expected that AI will transform the legal landscape in the next 3 years.
Legal automation
Automation is different from AI as it is using existing code or minimal code to help computers make decisions. In the legal context it is the method by which legal decisions can be made by inputting data that then forms a decision based on pre-determined criteria. This will help lawyers to make decisions quicker and reduce the amount of boring data entry decisions that need to be made.
Contract and document automation
This type of automation has been promised for many years and is a very common form of lawtech/legaltech in the market. Unfortunately at the moment it is really just a fill in the blanks exercise. The issue being that if you are just filling in blanks you are not taking into account the nuances of legal risk in your industry.
Until AI is more cost effective this type of automation will still need a lawyer to properly assess the legal implications and ensure that it works for each business.
Workflow automation
These are processes that are clear about the flow of work and the completion of work in the law firm. Tools and technology are constantly being built to try and automate this field and provide more automated tasks for lawyers. This can include automating the intake of instructions, questions, management of matters, fee management and compliance workflows.
Client and law firm collaboration
As an industry, moving on from paper has been slow for many parts of the legal industry. There are now literally hundreds of tools that have been built to satisfy this need. However, the ones that are in the market are constantly being refined and reworked for the industry. So watch this space in 2022 for more tools that will assist with the automation of your work.
Get your Business Legal Lifecycle Legal Risk Assessment by clicking here now.
Still unsure check out our “ebook” (to be written)
