Why You Need An Attorney On Retainer For Your Business

Big businesses have general counsel on staff. Small to mid-sized businesses can also do with this cost-effective strategy and have an attorney on retainer, that is you have a lawyer on call when you need them. From the start of your business up to the time it is growing and you are getting new ideas, you need a lawyer on retainer. If you’re having a bump with the law a couple of times a year, it’s time to reassess your legal expenses and consider retaining a knowledgeable and experienced attorney for your business.

If you need constant legal work, your business will do well with a lawyer on retainer. There are a number of Springfield, Missouri based attorneys that accept this kind of agreement as it is often beneficial for both parties. The lawyer gets paid in advance for his services and the client is guaranteed legal counsel as agreed upon. You can also better plan for your legal expenses and have a more predictable budget for your business. Your retainer agreement will vary depending on your needs.

You and your lawyer will talk about what your business needs, the duration of your agreement and the number of hours you need a lawyer each month. Your agreement can change in the course of time expanding or reducing the number of hours you need counsel each month as you see fit for your business. Take note that retainer fees do not include legal fees for filing a lawsuit or defending a lawsuit and other non-routine legal matters that can come up. If you are scouting for Springfield, Missouri based attorneys, make sure you talk to your lawyer in advance about the type of services that you need. If you don’t want to go overboard with your budget, make sure that your agreement specifies that your lawyer will contact you first if you’re about to cross over the boundary of your budget so you can plan your expenses.

Springfield, Missouri based attorneys on retainer are helpful for your business in times that you need a trusted legal counsel. In the event that you get sued or you file a lawsuit, your lawyer will already have a head start with how your business works so you won’t be bothered with too many legal questions. Your lawyer can check your insurance policies, employee policies and even your real estate agreements to make sure that you’re in the best spot legally. As you work with your lawyer, you should receive an update letter each month. The letter should contain an accounting statement with the details of how much work was done against the retainer, how much time was billed for the work done that month and the total amount billed. Make sure you receive one from your attorney each month.

 

Conclusion

It all boils down to have a lawyer you can trust to back you up and keep your business protected. You don’t want to wait until it’s too late before you start going through the numerous Springfield, Missouri based attorneys trying to find the one who can understand you, protect your business and someone you can trust with your top-secret ideas and plans for your business.

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