Founders and Managers gain a legal competitive advantage - a quick overviewUnlike many other professionals, we like to educate our clients so that they can lay the framework for good legal cases, and perhaps more importantly avoid bad ones.
Effective managerial teams do this, and one tool is the pre-flight checklist. Our first checklist is a simple one to set you up so you know the premises to using legal services.
So start your engines and lets get rolling with how Founders and Managers gain a legal competitive advantage - a quick overview. Welcome to the Founder Series.
Tool: Legal Astuteness.
Aim: An Economic Advantage.
Advantage: Lowered legal costs by (a) effective relationships with Legal Counsel, (b) understanding risk, and (c) safeguarding and effectively using resources.
The Simple List:
Values provide a safety net - Develop a set of core organizational attitudes that guide organizational actions and avoid legal issues. While we help organizations develop these policies based on game theory and incentives, most organizations do well to start with the phrase, "Do to others as you would have them do to you". The idea of the golden rule is not missed by many cultures and is found in cultures since about 551 B.C., let alone in Christianity. Moreover it is an underlying premise in the development of American law and virtues.
A dialogued approach - Many businesses identify attorneys with conflict, and the weaponizing of both ethics and language. They then employ attorneys in aggression, and feel a bit of the loss of their innocence. While we profit from this approach, we don't suggest it as a normal practice. Rather if given the chance, unless conflict is part of your business strategy, a business may want to consider finding attorneys who reveal opportunities out of the law and potential positive relationships out of disagreement. A starting point to this is having an honest talk with your attorney about your fears and seeing if a positive dialogue can be set rather than a passive-aggressive (and costly) response. This requires understanding when dialogue should occur with attorneys before problems arise, and if your attorney can build systems to handle small problems as well as large.
The repeated exercise of informed judgement - While we work with businesses to understand the shortest, least expensive, or most strategic paths to their goal, we also educate them in our business and learn theirs. Why? Both good attorneys and good founders have a similar problem when exercising judgement - to effectively make decisions they need relevant data they can judge, the opportunity to make those decisions repetitively with the relevant data, and the ability to understand the underlying logic that others apply to their position. The more attorneys have to guess, the more they have to account for, and the more work has to be done. So get to know your attorney so informed judgement can occur in small matters, you can reduce your risk and bills, and you can trust that judgement and its reasoning.
Values provide a safety net to reinforce profitable and positive action.
A dialogued approach not only saves money, but makes mountains into molehills.
The repeated exercise of informed judgement allows delegation, sound reasoning, and trust.
- Have a great day.
Love & Yeggy