Friday, December 3, 2010

Legal Fees

I have written before about legal fees, and last month I read an article Rob Johnson wrote for the November 15th issue of the Wall Street Journal:

Legal Advice…On A Budget

He reports that many law firms now offer legal advice to start-up businesses at either a discounted or flat fee. This is not a news flash. Here is a little secret: most attorneys I know are happy to offer services to start-up businesses for a flat fee or a reduced rate. It only makes sense to help bring certainty for the new small business. I offer this for routine services, such as drafting wills, forming a corporation or limited liability company or applying for a trademark. I, like most attorneys, strive to develop long-term relationships with clients. In fact, the only areas of legal practice that are incapable of being handled with set fees are litigation and sometimes contract negotiation, and these areas can be handled with a negotiated cap on fees. I have also read some intriguing articles about charging fees in litigation on a “per item” basis. Whether you are working with me or another attorney, always feel free to inquire about flat fees or at least good faith estimates of what your legal services may cost.

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