The most common way for a small business attorney to work is through an hourly fee. Averages run from $150 to $325 an hour, depending on your location and your lawyer’s experience. Although larger cities may see hourly fees higher than $1,000 per hour.
Is it a good idea to work with a lawyer that charges by the hour?
If you run a business, it is always a good idea to have a handle on your expenses. After working with your business lawyer for a couple of months you may have a clearer picture as to how many hours per month are needed for them to perform the work you need.
If the number exceeds what you had budgeted, you may talk to your lawyer to switching to a flat fee per month.
This way, you may find yourself paying between $500 and $2,000 per month, depending again on your location and on the amount of work needed and thus be able to prepare a more accurate monthly budget
Are there any other fees you should be aware of?
Yes. Depending on the job that your lawyer is doing for you, it may be necessary to pay some costs separately. One example is incorporation fees that need to be paid to the state.
What makes you spend more on a business lawyer?
If there is more than one individual who founded the company, you must have a lawyer draft the document that establishes that relationship and legal fees will rise accordingly.
If you are raising capital and using a third party to help you do so, you must increase your legal expenses.
And if your company has a public presence, you may need to protect your business from infringements from other companies and to combat third parties trying to break trademarks or stealing your creations or ideas.
How can a new entrepreneur know when to hire a business attorney?
Although it’s not necessary to have a legal lawyer for everything that happens in the new company, it is advisable to have one on hand to make sure you are compliant with the law and to stop any legal problems that may crop up in the future from escalating.
How can a small business owner know what lawyer to hire?
It is important that the legal advisor that will be working with you should be someone that fits with your business.
You want to find someone who is responsive to your needs and interested in your business, who has the experience to guide you and advise you when needed, and who will protect your interests at all times.
If you have friends or associates that have worked with a business lawyer, getting a referral from them might be a good place to start. Remember that your lawyer will be there to protect your essential assets and needs to be someone you feel comfortable working with.
Find Your Business Attorney Now
If you just started a small business and are looking for the right business attorney to work with, visit thefloridatriallawyer.com/business-litigation/ to get in touch with the business lawyer you need.
Start working with your business lawyer now and you can feel confident that you have taken care of the most important aspect of your new business.