How to Cut Legal Costs for Your Business

Tip! Determine if there is chemistry. In addition to legal expertise and a track record in your area of need, you will need to form a good working relationship with your counsel.

Obtaining legal assistance for your company can be a very costly proposition, especially for cash-strapped small businesses that are hard pressed to come up with the money to pay a lawyer.

If this is your situation, it’s a good idea to let your lawyer know right off the bat, and ask him for advice on how to handle your legal issues for the lowest possible cost.

For routine clerical work such as drafting contract and writing simple letters, it is often best to have a junior associate or paralegal handle your case, rather than a senior lawyer. You might also want to try revising simple documents yourself (depending on your level of experience), rather than making repeat visits to your lawyer’s office.

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If your business requires representation in court, you might want to try and negotiate a contingency fee, usually a percentage of gains (i.e. from a lawsuit), which would be paid upon successful completion of your case. This type of deal isn’t always possible for very difficult or specialized court battles, and can represent a significant premium over normal legal fees. It does take away a lot of your risk, however, and reduces up-front costs, while providing additional incentive for an attorney to work hard on your case.

About the Author:
Jeremy Maddock is a successful web-based freelance writer, who covers corporate legal services and other business services.

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