Legal services are necessary to protect your company and to comply with the state’s rules. These may include drafting agreements & policies, corporate governance, cross border transactions, debt recovery, director’s duties, dispute resolution, financing & fund raising, incorporation, intellectual property, mergers & acquisitions, statutory compliance, tenancy issues, and more.
Services and Specialisations
- Contract Law
- Maritime/Shipping Law
- Real Estate Disputes
- Civil Litigation
Main price factors
- Experience and seniority of the lawyer (Junior associate to senior partner)
- Reputation and size of the firm
- Complexity of the case (directly impacting the chargeable man-hours)
Expected price range when hiring legal services
Lawyers charge on an hourly basis, therefore the final price depends on the workload. In mid-size and big law firms, the hourly fee range from $300 to $700. Small law firms may have cheaper fees.
Tips, tricks and challenges
- It is important that you consult lawyers who know your sector. Referrals from someone who had the same kind of legal issue as you is a great way to find the right lawyer.
- Usually, small legal firms are a better fit for SMEs as they tend to be more cost-effective.
- Looking for a contract lawyer? If it is a simple contract, you might be fine with just modifying a template contract and having the lawyer vet it as opposed to drafting it from scratch.
Advice from other buyer(s)
- If you’re looking for trademarks or patents, go to a law firm that’s very common for them to do this kind of legal work, rather than a lawyer that does anything. Usually they don’t do a good job in processing your legal documents. Also, if you’re from a specific industry, go for a lawyer who has dealt in that industry before. Run patent and trademark searches before hand so you don’t waste money filing something to get sued by other people. For legal documents, you don’t need a very specialized lawyer. Just a freelance one will be okay. Usually range $100-300, shouldn’t spend so much on those kind of documents. (David Pong, Wateroam CEO)
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