Lowering Your Legal Fees

Here are five tips to help cut your legal expenses.

  • First--and most obvious--choose the right lawyer. You'llwant to match his or her skills with your needs. And it helps ifthe lawyer has other small-business clients.
  • Determine the best fee structure for your business. Will thelawyer charge you by the hour, on a contingency or on a fixed-feebase?
  • For certain legal tasks, use paralegals instead of attorneys.This alone can save you thousands of dollars.
  • Don't call your attorney just to chat. Usually those"small talks" turn into billable hours, which can addup.
  • Finally, don't accept--negotiate. Ask for prompt-paymentdiscounts. Even a seemingly small discount of 5 percent can, overtime, be significant.

Excerpted from Get Smart: 365 Tips To Boost YourEntrepreneurial IQ

Editor's Pick

Have More Responsibilities at Work, But No Pay Bump? Use This Script to Get the Raise You Deserve.
Black and Asian Founders Face Opposition at All Levels — Here's Why That Has to Change
Business News

'This Made Me Physically Recoil From My Phone': Lingerie Brand Apologizes For 'Creepy' Ad Referencing Ryan Reynolds and Bras

Online lingerie retailer Harper Wilde is under fire for a bizarre sponsored post it has since pulled from Instagram.

Business News

'Harvard Should Be Ashamed': Kim Kardashian Slammed For Giving Lecture at Harvard Business School

Kardashian visited Boston on Friday with Skims co-founder Jens Grede to talk to students about the shapewear company.

Thought Leaders

5 Small Daily Habits Self-Made Millionaires Use to Grow Their Wealth

We've all seen what self-made millionaires look like on TV, but it's a lot more subtle than that. Brian Tracy researched what small daily habits these successful entrepreneurs adopted on their journey from rags to riches.

Business News

The 90-Year-Old Owner of Ray's Candy Store Was Brutally Attacked Outside His Shop

Ray Alvarez was attacked in front of his iconic NYC candy store around 3 a.m. on Tuesday.