Retaining lawyer for small business on a monthly retainers fee
I am looking to retain a lawyer on a monthly retainer, for a start up business. My question is! What are the norm monthly fees?
8 attorney answers
I think most attorneys will tell you that the better indicator is their standard hourly rate. Based on that, you can advise the attorney of the type of project(s) or work that you will need on an ongoing basis. The attorney can then estimate the amount of time that your ongoing projects will take and determine a reasonable retainer to start with. As the retainer gets used up, you can replenish the retainer each month. For example: The attorney has an hourly rate of $250.00 and believes that the work you have will take approximately 10 hours per month. Perhaps you start with a $2,500.00 retainer that gets replenished each month.
I hope this example gives you some guidance.
Please note that this response in informational only and not intended as legal advice nor does it create an attorney-client relationship with you. Consult a real estate attorney. We are licensed in PA & NJ only.
The hourly rate has been with us for a century or more and works well for litigation or a large business deal. A more modern approach has been devised for businesses like yours that suits your cash flow limitations. You and the attorney can outline the tasks you expect after incorporation and stock issue are complete: Attend Board meetings and do Minutes for same. Answer phone calls from the President. Review contracts. Counsel on preventive law and on legal threats to the business. Employee benefits. Employee stock plans. &c.
On this basis you can then figure how much time would be necessary and use that a basis for a monthly retainer payment at a discount, recognizing that cash is tight during the early months and the lawyer is cultivating a prospectively prosperous client. After 6 months to a year, you should meet again and see what the actual amount of work has been. You can then renegotiate the future monthly retainer.
DISCLAIMER—This answer is for informational purposes only under the AVVO system, its terms and conditions. It is not intended as specific legal advice regarding your question. The answer could be different if all the facts were known. This answer does not establish an attorney client relationship. I am admitted only in California. (Bryant) Keith Martin sbbizlaw.com
I appreciate you sending your recent email. Please note that I typically respond to emails and phone messages after 4:00PM. If you require a response prior to the end of the business day, please contact my assistant Lynn Kolarik at 856.312.8180 or [email protected] She is prepared to assist you and can reach me in the event of an emergency. Thank you for your understanding, as this allows us to maximize our workday efficiency. Joshua M. Marks, Esq. Real Estate Law | Business Law Representing Entrepreneurs, Business Owners and Real Estate Investors NFL Players Association Contract Advisor JM LAW GROUP, LLC 1818 Market Street Suite 3740 Philadelphia, PA 19103 215.832.3600 P | 610.297.4226 F Website: http://www.lawmr.com Twitter: http://www.twitter.com/lawmr LinkedIN:http://www.linkedin.com/in/1joshuamarks Check Out My Blog: http://lawmr.com/blog/
I agree with the answers provided by the other attorneys. Typically, legal fees for small business legal work are billed on an hourly basis. A small business attorney may provide fixed legal fee quotes for certain projects. Attorneys spell out their billing arrangements in engagement letters.
Legal Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on since each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship. A lawyer experienced in the subject area and licensed to practice in the jurisdiction should be consulted for legal advice. Circular 230 Disclaimer: Any information in this answer may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.
I appreciate you sending your recent email. Please note that I typically respond to emails and phone messages after 4:00PM. If you require a response prior to the end of the business day, please contact my assistant Lynn Kolarik at 856.312.8180 or [email protected] She is prepared to assist you and can reach me in the event of an emergency. Thank you for your understanding, as this allows us to maximize our workday efficiency. Joshua M. Marks, Esq. Real Estate Law | Business Law Representing Entrepreneurs, Business Owners and Real Estate Investors NFL Players Association Contract Advisor JM LAW GROUP, LLC 1818 Market Street Suite 3740 Philadelphia, PA 19103 215.832.3600 P | 610.297.4226 F Website: http://www.lawmr.com Twitter: http://www.twitter.com/lawmr LinkedIN:http://www.linkedin.com/in/1joshuamarks Check Out My Blog: http://lawmr.com/blog/
Fees vary depending on several things, including matter complexity, experience, practice area, time required, and so forth. Most lawyers bill on an hourly basis for time expended, but you may be able to work out an arrangement for a flat monthly fee for certain items. However, sometimes a flat monthly fee ends up costing more than hourly billing. The best thing you can do is meet with attorneys with whom you would like to do business, explain what you want, find out what they want, and discuss which options would work best for you in your circumstance.
If you'd like to schedule a free initial consultation, call my office at 407-965-5519. I am licensed to practice in Florida only. My answer does not constitute legal advice or create an attorney-client relationship.
I appreciate you sending your recent email. Please note that I typically respond to emails and phone messages after 4:00PM. If you require a response prior to the end of the business day, please contact my assistant Lynn Kolarik at 856.312.8180 or [email protected] She is prepared to assist you and can reach me in the event of an emergency. Thank you for your understanding, as this allows us to maximize our workday efficiency. Joshua M. Marks, Esq. Real Estate Law | Business Law Representing Entrepreneurs, Business Owners and Real Estate Investors NFL Players Association Contract Advisor JM LAW GROUP, LLC 1818 Market Street Suite 3740 Philadelphia, PA 19103 215.832.3600 P | 610.297.4226 F Website: http://www.lawmr.com Twitter: http://www.twitter.com/lawmr LinkedIN:http://www.linkedin.com/in/1joshuamarks Check Out My Blog: http://lawmr.com/blog/
I agree with the answers provided by the other attorneys. I am licensed in Florida and have been representing small businesses for over 25 years. The legal fees our firm charges for for small business are usually billed on an hourly basis. On occasion we attorney may provide fixed legal fee quotes for certain projects. Please feel free to contact me to further discuss your inquiry.
Our firm does represent small businesses throughout Florida on a monthly flat fee basis. We usually charge between $300 and $1,000 per month for a start-up depending on what the corporate counsel needs are. We also give free consultations to small businesses. Our telephone number is (954) 757-1212
I appreciate you sending your recent email. Please note that I typically respond to emails and phone messages after 4:00PM. If you require a response prior to the end of the business day, please contact my assistant Lynn Kolarik at 856.312.8180 or [email protected] She is prepared to assist you and can reach me in the event of an emergency. Thank you for your understanding, as this allows us to maximize our workday efficiency. Joshua M. Marks, Esq. Real Estate Law | Business Law Representing Entrepreneurs, Business Owners and Real Estate Investors NFL Players Association Contract Advisor JM LAW GROUP, LLC 1818 Market Street Suite 3740 Philadelphia, PA 19103 215.832.3600 P | 610.297.4226 F Website: http://www.lawmr.com Twitter: http://www.twitter.com/lawmr LinkedIN:http://www.linkedin.com/in/1joshuamarks Check Out My Blog: http://lawmr.com/blog/
Our firm does represent small businesses throughout Florida on a monthly flat fee basis. We usually charge between $300 and $1,000 per month for a start-up depending on what the corporate counsel needs are. We also give free consultations to small businesses. Our telephone number is (954) 757-1212
This answer is not to be construed as legal advice and is only based upon the information provided. No attorney client relationship is established by using this cite. WALLBERG & RENZY, P.A. handles, appeals, civil litigation, business law, contracts and more. The firm can be reached at (954) 757-1212.
I appreciate you sending your recent email. Please note that I typically respond to emails and phone messages after 4:00PM. If you require a response prior to the end of the business day, please contact my assistant Lynn Kolarik at 856.312.8180 or [email protected] She is prepared to assist you and can reach me in the event of an emergency. Thank you for your understanding, as this allows us to maximize our workday efficiency. Joshua M. Marks, Esq. Real Estate Law | Business Law Representing Entrepreneurs, Business Owners and Real Estate Investors NFL Players Association Contract Advisor JM LAW GROUP, LLC 1818 Market Street Suite 3740 Philadelphia, PA 19103 215.832.3600 P | 610.297.4226 F Website: http://www.lawmr.com Twitter: http://www.twitter.com/lawmr LinkedIN:http://www.linkedin.com/in/1joshuamarks Check Out My Blog: http://lawmr.com/blog/
You should schedule an appointment for a consultation with an attorney. You should be able to find an attorney that will provide you with a free consultation for at least 15 minutes. The amount of the retainer will depend on the type of business you are starting, whether or not you need the lawyer to organize the business (set up corporation, LLC, partnership), if you need contracts drafted, and various other factors.
This communication is not intended to create an attorney/client relationship. It is always recommended you consult an attorney in person to discuss your case. The Law Offices of Stage & Associates practices state-wide and represents homeowners and community associations. Please visit our website at www.stagelaw.com.
I appreciate you sending your recent email. Please note that I typically respond to emails and phone messages after 4:00PM. If you require a response prior to the end of the business day, please contact my assistant Lynn Kolarik at 856.312.8180 or [email protected] She is prepared to assist you and can reach me in the event of an emergency. Thank you for your understanding, as this allows us to maximize our workday efficiency. Joshua M. Marks, Esq. Real Estate Law | Business Law Representing Entrepreneurs, Business Owners and Real Estate Investors NFL Players Association Contract Advisor JM LAW GROUP, LLC 1818 Market Street Suite 3740 Philadelphia, PA 19103 215.832.3600 P | 610.297.4226 F Website: http://www.lawmr.com Twitter: http://www.twitter.com/lawmr LinkedIN:http://www.linkedin.com/in/1joshuamarks Check Out My Blog: http://lawmr.com/blog/
We do offer free consultations to small businesses. Usually about an hour will do. That is the best way to see what the legal needs of the business are.
This answer is not to be construed as legal advice and is only based upon the information provided. No attorney client relationship is established by using this cite. WALLBERG & RENZY, P.A. handles, appeals, civil litigation, business law, contracts and more. The firm can be reached at (954) 757-1212.
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