Getting legal advice is an additional cost to your business but it is vitally important to your future success. Paying for legal services is notoriously expensive so this guide will help you keep those legal fees down.
It is possible to find legal advice for free so always consider this if you think it's could work. You can use a legal firm on an ongoing basis or just when events arise. If a solicitor's familiar with you and your business they can usually handle legal issues as they arise, and perhaps eliminate the chance of legal costs becoming too much. Whereas if it's just a one-off job they may be less inclined to offer a discount. Be aware that law firms generally charge by the hour. If that doesn't suit you, look for package prices or fixed prices.
Before meeting your solicitor draw up a list of questions so you don't waste time and money. The better briefed your solicitor is, the easier it is for them to estimate what possible hurdles and costs you face. Comply with any requests from your solicitor as soon as you can. Always ask for an estimate of the cost and for the solicitor to explain their fees and billing procedures. Remember you can negotiate with your law firm on fees.
You can go to court for litigation or to defend yourself against a claim, and the cost can place a huge financial strain on your business. If that happens, send a letter of instruction before you visit your solicitor and summarise the court case, the facts and the evidence. Always ask how likely you are to win a court case and if going to court justifies the expense - it can cost thousands of pounds. Look at taking out legal expenses insurance to cover legal costs.
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