Today marks the first full day of the American Bar Association's Business Law Section annual meeting.  It's been great to exchange insights and ideas with such great lawyers.  I usually prefer the company of my clients to other attorneys, but I needed this shot in the arm to overcome the isolation that comes with being a solo attorney. 

At one breakout session, the presenter got a big laugh when he offered his answer to the client's question: "Why do I have to pay this company so much money?"  The lawyer's answer: "Because you didn't come to me first before you signed the contract.  Now you've broken a promise in the contract you didn't even understand you were making."

That's one of the most frustrating scenarios of my law practice.   Clients, especially business owners, try to save money by negotiating deals and signing contracts without first consulting with a lawyer.  Often enough, no real harm comes of that and so they become less and less convinced about the value of good legal advice.  And when they do consult with the attorney first and everything goes smoothly, they may not recognize when they dodged a bullet.  It's like never knowing what diseases you DIDN'T get because you ate right.  But there comes a time when a "penny wise and pound foolish" approach comes back to haunt them.

Deciding to do without the advice of an attorney is like going without homeowner's insurance.  You may pay premiums  a long time without seeing a tangible benefit because the odds are you won't have a fire or other damage.  When you do face such a situation, though, the consequences are disastrous.  Good legal advice in negotiating and drafting contracts and other agreements works like insurance.  You may hope it wasn't really necessary.  But it helps you focus on your business and sleep better at night.