How Much Will a Business Lawyer Cost?

Locate a Local Business Lawyer

Find Lawyers in Other Categories
Most Common Business Law Issues:

What Will It Cost to Start a Business?

Starting a business is an exciting prospect. It is also not something that should be taken lightly, and it would be in most business owner’s best interest to consult with a legal professional before signing business documents or entering into contracts. Every business is different, and what it will ultimately cost to get one off the ground will depend on several factors in addition to attorney’s fees.

What Factors Cause the Costs of Starting a Business to Vary?

The three main factors that cause the cost of starting a business to vary include:

What Goes into Determining a Lawyer's Fees?

With business lawyers, their cost will be largely determined by their experience and where they are located. One can expect to pay less for a new lawyer in a rural area than a veteran attorney in a major city.

As mentioned above, another big consideration in the overall cost of the lawyer is how they bill. Generally, business lawyers either bill through a flat fee or by the hour. If a lawyer charges a flat fee, it is likely the lawyer will only be offering to handle a straightforward matter, such as incorporating or filing for intellectual property protection. For a flat fee, expect to pay anywhere between $800-$1,500. With an hourly fee, it is not uncommon for legal bills to quickly get into the $10,000 range. However, all things considered, for the amount work done it may also ultimately wind up being less pricey than a flat fee arrangement.

Why Would a Business Lawyer Charge an Hourly Fee?

A business lawyer will likely charge by the hour if the business requires several services, such as a filing the articles of incorporation, handling the tax matter, filing for trademarks or other intellectual property rights, and redlining contracts and business agreements. As mentioned above, if a business were to pay what a lawyer charges as a flat fee for these services instead of the lawyer’s hourly compensation, the bill may be considerably higher. Hourly rates will vary greatly, depending on the relative ability of the lawyer. Expect to pay $100-$500 an hour for a lawyer’s time.

A lawyer who works on an hourly rate may also require the payment of a retainer. This retainer will cover a certain amount of that lawyer’s time. After the retainer is expended, a standard - or potentially discounted - hourly rate will apply.

Is One Fee Structure Better than Another?

The best billing structure is the one that works for the client. Business lawyers understand this. Thus, their fee structure may vary depending on the needs of the client. Nonetheless, it is always best to understand what you are paying for. Asking your lawyer about why they bill the way they bill, and the easiest way to get clear answer about how they plan to use their time to best serve your interest and the interest of your business.

Consult a Lawyer - Present Your Case Now!
Last Modified: 08-13-2014 10:58 AM PDT

Find the Right Lawyer Now

Link to this page

Law Library Disclaimer

LegalMatch Service Mark