by Clarence Wilkins

Every penny counts when you’re a small business owner. Spending $150 to $325 per hour on an attorney – the typical rate, according to LegalMatch – tends to break the bank. Fortunately, you don’t need to. There are several creative ways you can utilize to receive the high-quality legal assistance you need at pocket-friendly prices – and sometimes without spending a dime.

Keller Professional Services offers responsive and cost-effective solutions for your business needs. We share our expertise through our news and updates channel to assist small business owners in developing and managing their companies.

Acquaint yourself with the different types of business lawyers

First, consider the type of lawyer you need. Business lawyers come in many shapes and sizes. The six most common ones, says Fora Financial, are general, employment and labor, mergers and acquisitions, tax, intellectual property, and contract. Some commonly-sought after services are employee theft, debt collection, supplier disputes, and tax audits. Match the service or expertise you need to the lawyer at hand. Always remember that experience matters, as does personal talent.

Look for lawyers offering free consultations

The best way to find a competent lawyer is to try out several and then choose the best one. Many lawyers offer a free initial consultation, sometimes as a way to entice clients and sometimes to fill in the state’s pro-bono requirements. A consultation allows you to vet the lawyer thoroughly. Further, you can use the session to ask questions about your situation, determine whether legal representation is necessary, and even hash out a beneficial payment arrangement.

Consider the contingency fee structure

When you need legal representation, the contingency payment structure can be your best friend. Essentially, you pay the lawyer only if they win your case. The fees come from the winnings, meaning you don’t have to pay from your own pocket initially. This arrangement can give you great peace of mind and also gives the lawyer an incentive to work your case more sincerely, seeing as they won’t be paid unless they perform.

Get help from the people in the same boat as you

Other people in your network have most likely encountered similar problems to yours or have needed the advice you did. Talking to them can give you clarity and direction and is sometimes as good as professional legal advice. And if you don’t find the information you need, at the very least, you’ll get a lawyer recommendation you can trust.

Check if you qualify for pro bono legal assistance 

In rare cases, like when your income falls below a certain threshold, you may qualify for pro bono legal assistance from a community-based program. Some universities, non-profit companies, and law schools also provide gratis legal assistance to deserving clients. Finally, highly experienced attorneys often counsel for free to give back to the community. If you know a lawyer, it doesn’t hurt to ask if they can help you pro-bono.

Offer equity instead of cash

The equity for services payment structure is also worth exploring. You pay the lawyer with a stake in your company in return for their time. Usually, this is minor percentage ownership. This allows you to receive quality legal assistance when you’re hard up on cash. Be cautious about making this arrangement and read the fine print carefully, as conflicts of interest may arise.

Utilize online resources to DIY

Having a lawyer is not always necessary, although it’s convenient. For example, you can handle basic business-related administration like obtaining an EIN, a business license, or a loan by yourself. You can use online resources for tasks like finding legal forms and writing business plans. Further, you can attend free public workshops or sign up for a free course if you need a primer in a particular area.

Sometimes, navigating business-related rules and regulations is like walking through a minefield: A single misstep and it could all blow up in your face. If your issue is complex and there’s a danger of lawsuits and fines, paying for the assistance you need might be the most affordable solution in the long run.

 

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