What If Your Attorney Didn’t Bill You By The Hour? (Enter Subscription Legal Services)
What IF your attorney didn’t bill you by the hour? When pigs fly, you say? Well, maybe pigs just flew. 😉 In all seriousness though, the billable hour isn’t the best model for some law practices. If you need a family law attorney, you will probably pay by the hour. It is hard to offer a flat rate when you can’t reasonably calculate the time it will take to work on your client’s behalf, and since practicing family law is like herding rabid cats, the billable hour is a family law attorney’s primary means of self protection. Lucky for you and your business, we do NOT practice family law. We help entrepreneurs and creatives build their businesses by providing subscription legal services.;-).
Alternatives to the Billable Hour – Contingency Fee
So what’s the alternative to the billable hour? Many law practices use the contingency fee model. Contingency fees work well in litigation where your attorney is working to get you a money award. Instead of billing you for their time, they take a percentage of the award they won for your as their fee. Lots of risk for the attorney in this model; nonetheless, contingency fees are great for a civil litigation practice.
Alternatives to the Billable Hour – Subscription Legal Services & Flat Fees
As an attorney for small businesses, entrepreneurs and creatives, I prefer offering flat-fees and subscription-fees. Both flat-fees and subscriptions allow you to know up-front your legal costs and work those into your budget. Depending on what type of subscription services your attorney offers, they also allow your attorney to get in front of possible legal issues by allowing for more document review than you could afford if your attorney billed by the hour.
If you would like to learn more about the flat-fee packages and subscription services Oak Lane Law offers, check us out at www.oaklanelaw.com. And, if you haven’t already, follow us on social media! We hang out on Facebook, Instagram, Twitter and Linkedin. And as always, we would love to work with you as your TN outsourced in-house counsel or go-to title agency. Check out our subscription legal services by clicking HERE. Check out our title agency services by clicking HERE. We would love the opportunity to help you build your business and close your deals!