Ways to pay
Law firms will, in the main, give you some free advice at the beginning and should be upfront about what the transaction will cost.
If you are likely to do a lot of business with a law firm, you should be aware that you can negotiate on fees.
However, if it is just a one off small transaction, firms will be less inclined to discount.
Fees can range from around £150 for general advice from a high street law firm to £700 plus from a top specialist in a smart international law firm. The average for commercial advice will be from £250-£500 an hour.
There are a number of ways of dealing with legal bills. Bigger companies can negotiate a cap on fees or arrange a discount when fees reach a certain level.
If your company is litigating, there are a growing number of law firms who have links with insurance companies providing litigation insurance. Some law firms will consider ‘no win no fee’ arrangements so it is always worthwhile asking.
Whatever size, your company should not be shy when discussing fees with your lawyer, particularly if there is the potential to give the firm a lot of work.
Find a lawyer >>
Use our free and confidential Matching Service to compare law firms and prices
Other guide articles
Patents, trademarks and licensing agreements
An overview of the nature of patents, trademarks and licensing agreements, the means of applying for them and the protection they provide.
Employment trends
By 2010 the EU hopes to have “the most competitive and dynamic knowledge-based economy in the world”, with a 70% adult employment rate.
Legal News
More businesses turning to debt recovery solicitors in recession
The economic downturn is prompting a growing number of businesses to use debt recovery solicitors to extract late payment from clients.
Need to Know articles
Businesses warned of the need to strengthen personal data protection
The government watchdog for personal data has warned businesses of the need to improve their organisational and technological measures to better protect personal data.
