The struggling economy has forced many businesses to find cost effective ways to reduce expenses. Finding a way to reduce the cost of legal consultation is frequently an overlooked area where a business can improve their cost-efficiency. Very often, legal consultation bills can gradually cost thousands of dollars in annual expenses. For instance, suppose a business owner consults with an attorney twice a month for 2 hours. This is 24 hours worth of annual consultation. Let's assume an attorney is generous and offers 1/2 hour of free initial consultation for every phone call or appointment which results in 18 hours being charged to the owner. The hourly rate for his/her attorney is $200 per hour. Therefore, the owner annually spends $3,600 on legal consultation. Several business plans offer free consultation for less than $1000 per year as well as additional services at no additional cost.
Another area where a business owner can reduce expenses is in contract and document review. If a business owner hires a law firm to review 3 contracts per month that are 10-15 pages, he or she generally spends $300 per month for this task. He can save him/herself at least $225 per month by investing in a business plan that provides the following document review services for only $75 per month:
1. Basic Contract Review-provider law firm will review up to three contracts per month concerning separate subject matter and not part of a single related business transaction up to 15 pages.
2. Executed Contract Review-A business plan will review one signed contract per month, up to ten pages in length.
3. Document Review- Each month, a business plan will review three business documents on separate subject matters -- up to 15 pages each -- and offer prompt advice.
If a business owner needs more documents/contracts reviewed per month than what is covered in 1-3, provider law firms often offer a discounted hourly rate. If the business owner’s original attorney provides these services for less, he/she would often use their original attorney.
Although business owners would like to save thousands of dollars in legal expenses, they also want to maintain the level of quality of legal service that they currently have. They want to be certain that their business is not sacrificing quality by enrolling in a business plan. This is why many associates who market business plans will offer a 30 Day Money Back Guarantee. If it does meet their expectations, they will continue as a member beyond 30 days. If it does not meet their expectations within 30 days, they can demand a full refund. In addition, the customer can choose to cancel their membership at any time for any reason.
To learn more about a business plan for businesses with less than 50 employees please click:
https://www.prepaidlegal.com/Multisite/Multisite?site=biz&assoc=fuller80
When the website is displayed, click the Plan Benefits tab which is located on the left side. To learn more about the 36 year old company who uses CV-AV rated law firms to provide this business plan, click the Law Firms tab which is also located on the left side. If you spend over $5,000 in annual legal expenses and would like to determine if a business plan can improve your cost efficiency, please call Mark Fuller at 703-508-4855 for a free cost-benefits analysis.
