Should you use template legal documents, such as a corporation kit or business kit, or should you hire a lawyer?I video interviewed business lawyer, Eric Rutledge, about those diy legal kits and heard about the potential pitfalls of these kits.The videos below are the same. If you have a slow Internet connection, I suggest going with Youtube as it tends to do better, otherwise go with Vimeo as I find the quality higher.
Here are some links to DIY legal kits. I've never used these services myself before so can't personally recommend them. They may work for you, they may not, I couldn't tell you.
To me, these kits and templates seem like a good option for small companies starting up. Especially when you are strapped for cash.Eric personally recommends against using kits and templates. I can understand his point of view. If Eric is seeing someone it is most likely that they have a problem that a kit or template couldn’t help out with, or that a kit or template created a problem. He probably doesn't meet too many people who have successfully used kits and templates.Also, if I was a trained lawyer with years of experience, why would I even suggest that a kit or template could do the job that I could? A kit or template most likely can’t.However, I still have that side of me that believes that for certain situations, for people with the right skills and knowledge, kits and templates are a completely viable way of handling some legal matters yourself.
This is the big thing. If you don’t know law and have a hard time reading, let alone the implications of legal documents, how do you know if your DIY law forms have been done right? You probably don’t.You do have a couple options though, free and inexpensive ones at that. Some lawyers give free 30 minute or 1 hour consultations. Double-check with them to see if what you’re about to do, or what you’ve done, is good.There are also lawyer referral services where you can pay a discounted rate for the first half hour or hour.
This is part 2 of a video interview with Eric Rutledge. Please view part 1 to see Eric talk about why and how to hire a small business lawyer.If you're looking to get in touch with Eric, here's what you find on the Canada Lawyer list.