Jan 23, 2014

Posted by Shanell Calloway in Uncategorized | Comments Off on 3 Tips That Will Help Your Business Cut Legal Costs

3 Tips That Will Help Your Business Cut Legal Costs

Whenever you are working with outside legal representation the potential to end up with a bill that is much larger than you expected is a reality. When you are facing particularly complex corporate or civil types of cases the legal battles can continue for years, especially if there are appeals of decisions and lengthy delays to prepare for court. Even in what initially looks like a simple legal issue it is still a great idea to start from day one to look for ways to cut legal costs.

In most cases your company will already have an attorney or legal firm you have used in the past. This firm may be the best option or you may decide to keep looking. Usually if the firm is willing to work with you to cut legal costs you have a good working relationship.

Alternative Settlements Will Cut Legal Costs
In the business and corporate world mediation, arbitration or direct negotiation can definitely cut legal costs as well as resolve your case much quicker. Negotiation between your legal representatives and the other legal firm or firms may be able to settle the case without the need to prepare for an arbitration or a mediation. Even if you move forward to mediation or arbitration the cost of preparing for these types of cases is much less than for court.

Flexible Options for Fees
For corporate legal issues typically fees are set on either an hourly or a flat rate. In some cases the legal counsel may also charge on a contingency fee that is a percentage of the settlement. Depending on the case, the possible settlement amount and the amount of time that you think it will take the resolve the case one of those options will be most favorable to cut legal costs for your company.

What Else is Billed?
Besides the hourly, flat or contingency fees that are quoted up front and agreed upon prior to the lawyer or firm taking your case, you need to ask about additional fees. In most cases these fees are not as clear cut and may include fees that are not directly related to your case at all.

Understanding how your attorney or legal firm will work with you on the options to cut legal costs mentioned above will help you decide if they are the best firm for you.

There are several different ways to cut legal costs and still obtain top legal representation. Let us help you at.

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