Legal fees are a necessary cost of doing business, but you don’t want them to get out of hand. Fortunately, you can trim legal costs without compromising the quality of essential legal services.
For starters, be sure you have a good handle on how your lawyer assesses fees. If you haven’t discussed fees with your lawyer recently, maybe now is the time for a heart-to-heart talk. In most instances, your lawyer will charge by the hour. What’s his or her hourly rate? What’s being charged for the time of associates, paralegals and others in the lawyer’s office? Are these rates competitive?
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