Pennywise Or Pound Foolish?

This article originally featured in the Fairfield County Business Journal on June 6, 2011. 

Containing costs sometimes backfires.

The economic challenges of the last few years have forced companies to place an increased emphasis on containing costs. Unfortunately, cutting back on professional services sometimes backfires by deferring costs and actually can increase the total bill.

The role of a transactional lawyer is to protect clients' interests by identifying issues that may not otherwise be considered, to ensure that documents accurately reflect the parties' intentions, to avoid litigation, and to ensure compliance with applicable law. Too frequently a desire to cost save leads to consulting counsel after the damage is done instead of at the outset of the business activity.