Cost-Saving Strategies to Keep Down Legal Costs

COST-SAVING STRATEGIES TO KEEP DOWN LEGAL COSTS This blog is brought to you courtesy of www.lawyerselect.ca For many new business owners, the very concept of consulting with a lawyer stirs up terrifying visions of sky-high legal costs and crazy hourly rates. That shouldn’t be the case. While lawyers are definitely not cheap, there are a number of ways to control your legal costs. First, you’ll need to familiarize yourself with the different ways in which lawyers bill you for their time. 1. Hourly rate – this is how most lawyers’ bill (by the hour). If they have to travel for your matter, they may also bill you by the day. 2. Flat/Block fee – some lawyers will charge you a flat rate, usually for routine matters, like drafting a contract, or reviewing a lease. Make sure to carefully review the work that’s included as part of the flat rate. 3. Monthly ...