Wednesday, August 2, 2017

The Importance of Succession Planning in 2017


In his role as head of The Posey Law Firm, attorney Jake Posey concentrates on business and commercial law, as well as government relations solutions at the state and government levels. Additionally, attorney Jake Posey provides general counsel services to businesses on various matters, including formation, contracts, and succession planning.

The importance of succession planning is evident on the metrics of cost and production. Bringing in a new hire costs exponentially more than offering a promotion and, according to one study, newly appointed executives already familiar with an organization generate as much as 30 percent more success than those who still need to learn the system.

Interestingly, though, while research consistently shows that promoting internally greatly outweighs external hiring, many businesses acknowledge that they do not have a plan, or the requisite human capital, in place. Businesses should invest having such a strategy, as it can effect a number of variables.

Succession planning plays a crucial role in the longevity of a business and in how its leaders navigate their careers. In some cases, professionals will decide to sell their company rather than looking for a successor. Finding a replacement alternately involves determining how to structure retirement and how to prevent unnecessary transition obstacles. With these routes and possible others, attorneys can offer guidance.For questions on these important issues, contact Jake Posey with The Posey Law Firm.

Tuesday, April 11, 2017

Free Legal Clinics by Volunteer Legal Services of Central Texas


Attorney Jake Posey leads and practices law with the Posey Law Firm, PC, in Austin, Texas. Alongside his daily work as an attorney offering government relations solutions to clients, Jake Posey gives back to his community through support of the Volunteer Legal Services of Central Texas and similar pro-bono service organizations. 

The Volunteer Legal Services of Central Texas (VLS) works to ensure that low-income status is not a barrier to participation in the legal system. It was initially established in 1981 to meet the needs of the local legal aid office, which was unable to keep up with demand for legal assistance. In 2016, VLS provided more than 17,250 hours of free legal service to almost 5,000 clients. 

In addition to providing direct legal representation to some clients, VLS is able to provide legal assistance to many more through free legal advice clinics. These clinics are held several times monthly at community locations in Central Texas, and offer free parking, childcare, and Spanish language translation services. 

During these clinics, most participants will be able to speak with an attorney for 10-15 minutes. These attorneys cannot assist with criminal or immigration matters, only civil issues. Individuals who qualify for additional help may apply for legal representation at these clinics, though the VLS does not guarantee that an attorney will take every case.

Saturday, April 1, 2017

Finding the Right Business Lawyer


For more than 10 years, Jake Posey has guided the Posey Law Firm, PC, in Austin, Texas, as lead attorney. A graduate of Texas A&M University School of Law, attorney Jake Posey focuses on handling governmental affairs and cases related to business law.

For companies just starting out, retaining a lawyer specializing in business law is imperative. Unfortunately, many businesses wait until they are facing legal issues before taking this step. 

During their initial search, business owners must decide whether they want to hire a lawyer from a small firm or a large one. On one hand, larger law firms often have more experience with a wider range of issues than smaller firms; however, they typically have higher hourly rates, and covering the cost of these rates may be difficult for new businesses. Smaller firms are often cheaper, but they may not have the necessary expertise to handle a case properly. To choose between the two, business owners should take into account their company’s budget, as well as the backgrounds of the firm’s individual attorneys.

Ideally, business leaders should find a lawyer who focuses on business law in their company’s given industry. If an attorney does not have any background in the industry, he or she should have professional connections who do. This allows the attorney to obtain the information needed to effectively handle a case. It also prevents businesses from having to find a new lawyer for each new problem.

Finally, business owners need a lawyer who identifies with their overall vision. This ensures that the lawyer will find legal solutions that not only benefit the business, but also fall in line with its message.