The Benefits of Having a Business Attorney on Retainer

The last thing any business wants is to spend money on legal fees. But you also know that legal problems can happen overnight, and it would be great to have an attorney on-call, to ask questions or handle problems, whenever they arise. Could having a business law attorney on retainer be the answer for you?

How Does a Retainer Agreement Work?

There are a number of different arrangements that qualify as having an attorney on retainer.

Generally, it means that you have deposited some money in advance with an attorney or law firm, and that means that you can contact or visit the attorney whenever you need, because you’ve “prepaid” for the lawyer’s time.

In other cases, it may mean that you pay a monthly fee to the attorney, in return for as many legal hours as you may need, without having to pay additional money to the attorney for every hour the attorneys work.

And then there are hybrid arrangements of both of these.

Responsiveness

However the arrangement, there are benefits to having an attorney on retainer.

One big benefit is that an attorney that is on retainer, will tend to be super responsive to you. You are a steady, paying client, the attorney has been paid already, and that means that when you need something, you get a response. Many attorneys will even communicate with you evenings and weekends, if you are on retainer.

Understanding Your Business

One big benefit is that because the attorney is on retainer, he or she has a long term relationship with your business. That means that your business attorney understands your business’ history, how it works, prior issues, and your business’ staff. No need to have to explain the basics to a new attorney, whenever a situation arises.

Quick Responses and Proactiveness

Because the attorney knows you, and is on retainer, you can just quickly call and get a question answered. You may not go through the trouble of calling lawyers, interviewing them, and signing retainer agreements if you just have a simple question. But with an attorney already on retainer, you can just call that attorney anytime, and ask simple, smaller questions.

This can allow you to handle problems proactively, before they become large problems. Asking questions in advance or having documents and contracts drafted in advance, can ward off larger, more expensive legal problems later on. While you may not do that with just any lawyer you can do that with an attorney or retainer for you.

Room to Negotiate

Many attorneys may offer you a discount, or some free hours, if you are on retainer. This of course varies from attorney to attorney, but because you have an ongoing relationship with that attorney, you may have more “bargaining power” than you would, hiring a new attorney every time you have a legal problem or question.

Call our Fort Lauderdale business litigation lawyers at Sweeney Law P.A. at 954-440-3993 to see how we can grow, and protect, your business.

Sources:

findlaw.com/hirealawyer/attorney-fees-and-agreements/what-does-it-mean-to-have-a-lawyer-on-retainer.html

lawpay.com/about/blog/lawyer-retainers/