The festive season has arrived! Before we know it, a new year will be here and we will be in the thick of a business as usual. As 2021 wraps up, it’s a good time to reflect on the year that (almost) was. From a business perspective, it’s also a good time to review how much money your business is spending annually on legal fees.
Sound legal advice is like insurance – it protects and gives peace of mind
While for many SMEs legal fees can be an uncomfortable expense, here at Clearpoint Legal we view it as insurance for your business. The right legal framework will not only set you up for success but ensure you are in the best position should an issue arise.
Fixed Fee vs Retainer vs Hourly payment models
Lawyers can charge clients based on a variety of different pricing models, including hourly, retainer and fixed fees. Traditional law firms tend to charge by an hourly rate, which can end up blowing out your PNL.
Clearpoint Legal offers a variety of payment options. We find clients tend to opt for a fixed-fee option which gives them more certainty over their potential costs. The benefit of a fixed fee is that you will pay a set amount for an agreed scope of work with less chance of a surprise when the final invoice comes through.
While you may be happy with a fixed-fee option, have you sat down to add up what your legal fees are costing you, annually? What if we told you there is another way to seek commercial legal services and advice that could add even more value to your business?
The benefits of a legal team on retainer. That’s us!
If you own a business that has a consistent requirement for legal assistance but don’t have the income to hire a lawyer full-time, or you’re spending anywhere between $42K plus per year on legal fees, let us introduce you to a retainer model. Stay with us.
To have a legal team on retainer means that you pay an agreed amount on a monthly basis. In return, the team performs legal services whenever the client needs and within the negotiated terms.
A retainer model can bring stability to your business, helping you plan for business growth. It can also prevent an end-of-month panic as you scramble to come up with the money to pay a hefty legal invoice. Working with an out-sourced commercial legal team long-term helps to build lasting business relationships, develops trust, and helps you reach your business goals.
If you run a business that requires ongoing legal services, give the team at Clearpoint Legal a call. Taking an evolved approach to commercial law, with values, culture, innovation and collaboration at the heart of what we do, we believe that building great relationships with our clients starts with a strong understanding of who you are and what you want to achieve. Save money, save time, plan ahead with clear and concise legal advice and services.
Book in a free discovery call today to find out more. We’d love to learn about your business and discuss how our team can help! Click here