Directors Duties Litigation Legal Fees SME Founders

How do lawyers calculate fees?

There are a number of ways lawyers charge for work:

1️⃣ fixed fee for the entire matter

2️⃣ fixed fees for reaching a certain milestones in the matter

3️⃣ purely at hourly rates

4️⃣ a combination of both fixed fee and hourly rates

If you are not working with fixed fees, then discuss estimates, possible revision scenarios and variables with your lawyer.

Some projects are suitable for monthly billing, whilst some others are based on milestones agreed beforehand.

Everyone knowing the budget that they are working with, will help your lawyer define the goals and scope out the work and avoid any rude shocks when your invoice arrives.