What is the bare minimum a general business lawyer should know how to do before going out on their own?

Imagine you are starting your own solo transactional law practice out of necessity. You have experience from clinics, externships, and internships during law school, but you’ve never worked full-time in a firm. You feel confident in your ability to handle areas like:

  • Entity formation and related areas
  • Basic IP protection
  • Commercial contract review and drafting
  • Commercial disputes (without litigation)
  • Negotiating agreements
  • Compliance

What additional knowledge or skills should a lawyer have to feel confident in competently managing whatever clients come their way?