I hear many excuses from business owners on why they don’t have their contracts reviewed by an attorney. Most complain that lawyers are too expensive and it will kill the deal.
While retaining a lawyer can be an expensive step, it does not have to be. I have positioned myself to be able to offer business representation to clients in a low-cost manner. I utilize technology to streamline my communication with my clients, as well as keep my overhead low. My standard business rate is $200 per hour, but can be discounted down with an agreement to be retained as the business’s attorney.
As for “killing the deal,” that is not my goal in any contract review. Most business owners that bring me a contract to review want the deal to go through, and they just need to know what liability they have if the deal goes bad. Therefore, a majority of the time, I do not go through and suggest a change to every paragraph. I will outline what the risks and liabilities are, as well as make suggestions on how to lessen the liabilities without killing the deal. Depending on the length of the contract, this usually takes an hour or two. If you are entering into a contract that could have one party paying thousands of dollars if the deal goes bad, don’t you think it makes good business sense to spend a couple hundred on an attorney to review the contract?
Contact me today to discuss your contracts. I truly enjoy partnering with small businesses in Middle Tennessee and helping them with any legal needs that come up.
Luke D. Bottorff
Nashville Business Lawyer
McNulty & Associates, PLLC