Have you ever received a legal bill totaling twice the amount of the initial estimate? Unfortunately, legal bill sticker shock can happen easily for business owners and entrepreneurs who are busy starting and running companies rather than monitoring legal price tags. One way to avoid the shock of an unexpectedly high legal bill is to just expect to pay much more than you are quoted; but, there are better ways that ensure that you know approximately what your bill is going to be before you even receive it.
1. Avoid paying for a learning curve.
Talk to several lawyers before you hire someone. You want to be certain the lawyer you hire has the experience you need. Ask specific questions to determine if the lawyer has handled similar cases to or matters as yours—and what those outcomes were. Lawyers interested in your case are likely to give you some free advice. Take advantage of it. They may offer free insight on things to consider when forming a company or the best approach to a piece of litigation. Ultimately, you should go with your gut: Hire someone who is interested in helping you and someone with whom you are comfortable. (more…)