5 Tips on How to Choose a Law Firm in Hungary
5 Tips on How to Choose a Law Firm in Hungary
5 Questions You Should Ask When Choosing a Law Firm in Hungary
As an international business person, you are looking for a reliable and competent law office in Hungary that is strategically located and able to communicate fluently in English, German and Hungarian. Though there are lots of lawyers in the Hungarian market, you should consider the following issues when making your pick:
1. Does the law firm have a team or it's a one-man-show? For an efficient and professional service, it is vital to have at least three lawyers who are familiar with all aspects that your business may need in Hungary: company law, mergers and acquisitions, local knowledge, familiarity with the Hungarian company registration procedures, litigation, intellectual property or real estate issues, not to mention their availability for negotiations with you to understand your legal requirements better. In-depth knowledge of Hungarian employment and labour laws, including familiarity with court hearings and court proceedings is also crucial to perform their job well.
2. Do the lawyers have sufficient track record and experience? Many lawyers in Hungary tend to project a more positive image than the one their background would warrant: make sure to cross-check the legal counsels' professional experience, references, previous clients and other credentials. The last thing you want is award a contract to a lawyer and end up needing another one to sort out mishaps with the first one.
3. Are the fees competitive in the local market? Unfortunately even after Hungary's accession to the European Union, many firms apply differential pricing when it comes to Hungarian and international clients. Pharmaceutical companies, retail industry, telecommunication firms, private individuals or any entity seeking legal assistance for court proceedings, mergers and acquisitions (M&A) or due diligence (DD) issues can find a solicitor or legal support in Budapest, but the quotes that legal practitioners offer will be highly diverse. Make sure to get various offers but don't just base your decision on the fees: a personal meeting and background check can always add just as much value and avoids sleepless nights.
4. Is the firm familiar with the unique Hungarian setting? Making use of an in-house counsel or foreign attorney who claims to be familiar with Hungarian commercial law may be an easy solution but the truth is that nobody knows the local settings better than international-minded Hungarian lawyers. Fluent foreign language skills, especially in English and German, are vital for efficient communication, yet the real added value is knowledge of the social, political, legal and regulatory environment of Hungary, including regional practices that may apply in Debrecen, Pcs, Szeged, Gyr, the Balaton area, Miskolc or Szkesfehrvr. Make sure your lawyers are flexible both in their approach, attitude and knowledge.
5. Does the law firm cover a wide range of issues? Many firms tend to specialize in one legal area or another, such as commercial law, banking, insurance law, IT law, property law or other. On the other hand, nowadays most disputes or contentious legal matters touch upon a range of legal considerations ranging from private law, civil law, litigation, arbitration to IT law in the framework of a due diligence or an M&A transaction. Ensure that the firm has the overarching expertise that can confidently serve and provide counsel on all issues that may come up in the transactions and business ventures you assign to them.
Questions? Comments? We're pleased to help you. Contact the law firm's partners Mr. Zoltan KATO or Mr. Gyula KOROSY at www.kk-legal.com today for a free consultation!
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