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My SO is an attorney so I'll respond by relaying a couple of things I hear first-hand on a regular basis: 1. Many clients ignore the advice they're given. 2.
by 7Figures2Commas 13y ago
My SO is an attorney so I'll respond by relaying a couple of things I hear first-hand on a regular basis:
1. Many clients ignore the advice they're given.
2. Big companies spend lots of money settling lawsuits that could have been completely avoided.
A six or seven-figure lawsuit, which may require tens if not hundreds of thousands of dollars to defend, is an inconvenience at a billion dollar company. It can be the end of a startup or small business.
- tptacek 13y agoOf course they ignore it. If they took every counsel opinion to the bank, they'd almost never sign a contract.
- 7Figures2Commas 13y agoI know criticizing attorneys is a fashionable pastime, but your comment is neither informed nor creative. I know it may come as a shock, but attorneys make a lot more money structuring, negotiating and drafting agreements than they do advising clients not to enter into them. This said, the type of advice that I was referring to pertains to legal compliance and best practices in the context of running a business. Example: 1. An employer is advised by counsel that it must or should keep certain records. 2. It, for whatever reason, fails to do so. 3. As a result of its failure, it is fined, or is less able to defend itself in a lawsuit. This sort of thing happens. Every single day. The only thing being taken to the bank is money that employers never had to part with in the first place.
- tptacek 13y agoI'm not criticizing attorneys. I like attorneys. I don't think you're reading my comments very carefully.