How can we help our clients build a chain of locations? Can our emerging clients ever compete with the big companies, the private equity companies, the multinationals with structured finance? The answer is a resounding yes, and we as lawyers can help by setting the legal foundation. Many companies and consultants exist to help franchise a business, but I believe that the lawyer has the most important role in brand expansion. Failure to set the legal foundation has ruined many companies, even those run by the most experienced and successful CEOs. Not every lawyer, law firm or accountant knows everything to cost effectively help the client at each stage of growth. Lawyers practicing in the channel of commerce understand the importance of working collaboratively with referring counsel and protecting that relationship.

  • How every lawyer can help their client with brand expansion.

Just like restaurants and other chain businesses, lawyers know branding. For lawyers, their reputation among the jurists, clients, opposing counsel and referral sources often has some relationship to financial reward. Branding is the process involved in creating a unique name and image for a product in the consumer mind, mainly through advertising campaigns with a consistent theme. Branding seeks to create a unique and differentiated presence in the market that creates loyal customers. Loyal customers translates directly into good will. The value of the brand is sometimes referred to as brand equity, and may be detached from the actual performance of the operating business for purposes of valuation.