You knew it was coming. You tried to put it out of your mind. Surely I can just solve my legal problems as they arise. But you recently had a client that wouldn’t pay their bill or a team member who cost you a lot of money.
Understanding the legal aspects of your business is crucial for your success. All too often we see business owners spend thousands, tens of thousands and even hundreds of thousands of dollars trying to solve a legal problem in their business. Sure some of those problems are unavoidable depending on who you deal with but the vast majority of problems within a business can be solved if you take a proactive approach to protecting your business.
At Business Legal Lifecycle we know that dealing with a lawyer can be difficult, it can seem daunting and costly. That is why we have designed our Legal Risk Assessment Tool and Education Course to help you to understand the law without a law degree. It is often difficult to understand the costs that you will save by taking a proactive approach (by its very nature a proactive approach saves you money that you would otherwise spend) but trust us that the savings are huge.
Cost of a Lawyer
Generally, lawyers charge their clients on one of two basis, firstly is a fixed fee for a service and second is an hourly basis based on how much time they spend doing the work. Let’s start with charging based on time. These costs can vary from $200 per hour to as high as $1,200 per hour. This is usually worked out in 6 minute increments and is an antiquated way of running a business and creates a lot of problems between lawyers and their clients. You can read more about this in our article “How Much does a Lawyer Cost?”.
The second way of charging for the work performed by a lawyer, a fixed price, is a much better way for you to understand what you are being charged and control the expenses in your business. Frankly this is a much better business model for you to engage a lawyer through so that you know exactly what you are being charged and if a lawyer can’t give you a fixed price then they don’t understand the work that they need to do well enough.
The Business Legal Lifecycle Legal Risk Assessment is a tool that takes about 10 minutes to complete by answering 31 questions about your business. It provides a report that sets out the legal risks in your business and what you need to do to protect them. For a lawyer to prepare a similar type of report it will take generally between 2 to 4 hours. That means that the cost of obtaining this advice from a lawyer could be as little as $400 and as much as $4,800.
Cost of the Business Legal Lifecycle
The Business Legal Lifecycle Legal Risk Assessment does all of this for $97 and gives you an assessment of what are the legal risks in your business. It gives you a report that sets out what is missing in your business, why you need to prevent those legal risks and a plan for the future of your business. Importantly you can take it to your lawyer to then do the work that they are good at, preventing those legal risks within your business and you get all of this without the cost of a lawyer preparing the report in the first place.
By working together with the Business Legal Lifecycle lawyers can help their clients to prevent legal risks within their business and prevent so many problems that commonly afflict small to medium sized businesses.
Get your Business Legal Lifecycle Legal Risk Assessment by clicking below.