This week, I looked over the financials of a struggling business (essentially, the slowing economy is taking a toll). I was seeing if I could find some ways to cut costs.
Looking through the line items, I noticed some large legal bills. And, digging some more, I learned that the company was using a big-time law firm.
"You really don't need this kind of level of legal services," I said. "Besides, you can shop around for an attorney."
I also had some other suggestions:
DIY (Do-It-Yourself) Legal: You can gather your own legal advice for free. Just doing a routine Google (NASDAQ: GOOG) search, you'll notice many legal websites. However, you need to be wary. Do you know the quality of the content?
I think a better approach is to focus on well-established sources like:
- AllBusiness.com: The site is chock full of helpful content and is backed by Dun & Bradstreet (NYSE: DNB).
- U.S. Legal Forms: You'll find thousands of vetted legal forms (at affordable prices).
- Nolo: Founded in the early 1970s, this company is now the premier publisher of self-help legal guides (and I've bought quite a few books from them).
Affordable Service Providers: If a DIY approach seems scary, there is a middle ground. There are online services that help with such things as incorporations, trademarks, copyrights, and even patents.
The top player in the sector is LegalZoom. Actually, I recently had a chance to visit the headquarters, which has an impressive setup. In a way, it's an efficient supply chain – with a call center, experts, proofreaders and so on that process legal documents.
More importantly, you'll only be spending a fraction of what a big-time attorney will charge you.
Tom Taulli is the author of various books, including The Complete M&A Handbook (www.mergerbook.com) and is also a principal in Averiware, which provides an ERP system to small and midsize businesses.











Reader Comments (Page 1 of 1)
5-05-2008 @ 1:26PM
jmac said...
Nolo also does some of that online LLC and patent application service work. Clear language, easy process.
5-12-2008 @ 9:11AM
Nanci Meek said...
Here is what happened to us when our father passed away The probate has taken over 4 years and we are still litigating.
This is Part One
http://youtube.com/watch?v=d_PiKumEPVU
This is part two
http://youtube.com/watch?v=vgVts2xiD5o
We have spent over $52,000 in attorneys fees And the Bank continues to bleed the trust for their co-trustee fees and fees to pay THEIR attorneys not to mention what our stepmother has spent in attorneys fees to keep us from getting what our father wanted us to have What a mess. We are getting nothing but the attorney's are
5-12-2008 @ 11:20AM
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5-12-2008 @ 11:33AM
Rich Mallen said...
As a Chicago attorney/engineer who has been helping injured people with insurance claims and problems for more than 28 yrs., I agree with Ann Fisher about bad advice being given by the self help sites. I had to sue one here in Chicago who was giving such bad advice that it would have sunk the claim of the person following their bad info. Some claims can be handled on a contingent fee basis - that means the attorney gets a percentage of the recovery at the end if successful and nothing if the claim is unsuccessful. While this is used in injury cases, some business law firms are now open to such arrangements. You may even suggest a blended fee arrangement where the client pays a lower hourly fee with a bonus for results it the case is closed successfully within a set time, etc. If you have questions how this works or need more info, feel free to call me at 312-346-0500 or email me at rmallen@mallenlaw.com.
5-12-2008 @ 4:05PM
Kevin McLoughlin said...
I agree with Ann Fisher. It is important that we make the legal system accessible to everyday people. Proper legal representation is simply not affordable for most Americans. the only way we can prosper in America today is with access to the legal system. According to the American Bar Association, 70% of households last year dealt with a problem that a lawyer could have helped with, but they handled it themselves instead. Pre-Paid Legal Services Inc. is the pioneer and leader in providing affordable access. There is an excellent source for more info on this.
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5-12-2008 @ 6:48PM
scott said...
In Texas there is an online lawfirm that handles alot of the same things as legal zoom. The web site is www.texlawondemand.com. The founder is an attorney and she prepares all the paper work herself and will mail the documents to your home. You don't even have to leave your home. legal services at the convience of you keyboard.
5-12-2008 @ 11:20PM
legal8brf said...
Ann Fisher said it all. She is right on the button. The article proves only one thing -- if you pay and advertising fee, some idiot will print your ad and call it gospel.
5-12-2008 @ 11:42PM
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5-13-2008 @ 10:02AM
Ann Fisher said...
I think you should be careful in recommending sites that merely provide forms or give more generic legal advice. After 11 years as a pro tem judge, I have seen hundreds of people come into court with bogus paperwork, making assertions that by law are against their positons - upshot is that they have to pay a whole lot more to find someone ot try to correct the damage. Instead of directing people to places online in which there is no regulatory oversight and little understanding of the specific state's requirements, tell people to check with their state bar to see if there is a referral service and to call the low income services (Legal Aid is national) because they can either help or direct them to other resources. We are struggling as a country with a justice system that is overburdened (takes years sometimes to resolve cases due to the overwheling number of cases) and underfunded. We have to find ways to make it accessible to the everyday person - but using online services may have dire results in an already difficult situation. Its like getting a manual for fixing the car, following the directions more or less and that are confusing, and later finding out that the manual was for fixing a washing machine. As to the lady with the neverending probate, the answer is not with the attorneys but with the system and the step mother. It is not the lawyer's fault when the law provides an avenue to contest a matter -- the law is written so as to allow anyone to contest anything in the court system - it protects the people who deserve it and weeds our those who do not. Sounds as if her lawyers are not explaining things in a way she can understand, not that the lawyers are not doing their job. If the step mother is still in the mix after this long, then she has some legal basis for being there- ie, that the family may not have the winning case.