At Dressel/Malikschmitt, we work with business of all sizes, from start-up ideas to established multi-million-dollar businesses. When it comes to retaining an attorney, we know that cost matters and one size does not fit all, which is why we work with each client to develop a custom pricing strategy that best suits their business and their budget.
The Cost of Hourly Outside Counsel
When most people think of attorneys, they think of hourly billing. Indeed, hourly billing often makes sense for discrete projects or otherwise limited-scope engagements. For example, initial stages in start-up development may require only basic corporate documents to get things started. Or, an ongoing enterprise may require a singular contract to be drafted or reviewed. For these situations, we work with the business owners to develop an hourly rate plan specific to the work needed and an agreed-upon time frame.
Flat-Fee Outside Counsel Costs
Although hourly is a great option for simple issues, it often isn’t the best option for more complicated matters. Indeed, we often find that a flat-fee approach can help provide the services you need while staying within budget and eliminating surprise costs.
Flat fee arrangements can be monthly or annual depending on the needs of the business. Flat-fee billing provides the business with cost certainty and the comfort of knowing that it has an outside general counsel available on demand to meet its needs.
The flat-fee structure permits the business owner to feel comfortable reaching out about any legal issue, no matter how small, and asking for advice without worrying about racking up billable time. With this type of retainer, we are available to you and your business when you need us most.
Often, a flat fee arrangement may begin with a legal audit where we evaluate and determine the short-term, the immediate-term, and the long-term legal needs of the business. This may help safeguard the continued success of your business interests by anticipating issues or regulatory changes, as well as protecting against bumps in the road of your path to business growth. Most of our outside general counsel services are developed based on the number of employees you have, your revenue, your litigation history, and other needs specific to your business.
Project-Based Outside Counsel
Clients often need help for limited periods of time on an individual issue. With project-specific clients the agreement and payment structures are contingent on the duration of the issue, and end with the end of the project – a transaction closes, a litigation matter concludes, an investigation is completed.
Project-based outside counsel clients have all the benefits of flat-fee clients while the agreement is active. Consistent contact is the key to success with our project-based clients. We want to know what is happening in the business at every level, so we can consider any legal issues that may arise concerning the project.
Flexible Outside Counsel Pricing for New Jersey Businesses
Our true value is in ensuring no problems arise, during the day-to-day management of your business. To explore which pricing model works best for your business’ legal needs in New Jersey, call us to speak directly with our partners.