Expense Is Related To Benefits
Hiring Your Legal Manager does not add “fees on top of fees” but instead adds value to the overall results the client receives in the management of its legal work. The intangible value to the company’s executives of handing off legal matters to “in-house” counsel should make the retention of Your Legal Manager worth its cost. In addition, savings in outside legal fees can be expected to enhance the value delivered by Your Legal Manager.
The key concepts that determine Your Legal Manager’s fees to a client company are first, the payment structure is developed through negotiation to “right-size” it to the company’s needs for assistance from Your Legal Manager. Second, the payment structure is designed to support a long-term relationship. The longer Your Legal Manager works with a company, the more efficient and productive its services become and the greater the benefits the client can expect to receive.
Customized Fee Structure
If Your Legal Manager accepts a company as a client, Your Legal Manager’s fee will be tailored specifically to the company and the specific range of Your Legal Manager’s services to be provided. Before Your Legal Manager is hired, the arrangement will be negotiated to both Your Legal Manager’s and the company’s satisfaction.
Your Legal Manager will charge, on a basis to be agreed with the company, for assistance in connection with specialized projects such as litigation and large transactions, and regulatory compliance in specialized areas. Such billings can be partly equity, capped fees per month, or other structures acceptable to Your Legal Manager and the company.
Your Legal Manager does not charge hourly rates unless that is the most cost-effective method of compensation for the services Your Legal Manager will provide in the specific situation. The compensation to Your Legal Manager can be a retainer for a specific project, a monthly retainer or an hourly-based fee. Your Legal Manager’s retention contract typically will be subject to renegotiation or cancellation monthly.
Legal matters such as management contracts, board and shareholder actions, and various agreements, including IP licenses and cross-border product distribution arrangements, may be done by the Law Office of John A. St. Clair P.C., only if the client and Your Legal Manager determine that doing so will be the most cost-effective and productive way to proceed.