Small businesses are critical to the economy of Calgary. They create local employment, generate revenue, and contribute to cultural and community development. Compared to other cities in Canada, Calgary is known for its favorable tax rates and government growth incentives, which can prove beneficial for growing businesses.
It can be overwhelming to go through the legal steps and paperwork involved in starting or running a business, from drafting contracts to filing for trademarks. So if you are considering hiring small business lawyers in Calgary based, read on to learn more about how they can help you and how much their fees cost.
What Can Business Lawyers Do for Small Businesses?
Small business lawyers assist young and growing businesses with different legal matters. They can help you set up your business. This rigorous process includes deciding on a structure and ownership, naming and registering the business, getting licenses, and drafting corporate documents.
If your company is already up and running, small business lawyers in Calgary based can still help you in many ways. They can assist you in drafting letters of intent, sales or acquisitions, and contract and agreement reviews with buyers and sellers. And, of course, they will help you resolve disputes if you get sued.
Factors that Affect the Cost of Hiring a Small Business Lawyer
As a small business owner with limited funds, cost is likely one of your main concerns. However, it can be hard to pinpoint a specific amount since lawyer fees significantlyvary based on what services you need, the complexity of your case, and the lawyer’s reputation. So to help you estimate, here are two main factors you should check while consulting with different lawyers.
Payment Structures
● Fixed Fees
Fixed fees are common in cases where the lawyer already knows what the cost will be ahead of time, such as incorporating a business. This fee structure is most suitable when there are no unknown circumstances in the case that could affect the amount of time and work required.
● Hourly Fees
Since cases require an uncertain amount of time and work, hourly fees are the most common payment structure. Lawyers will often charge by billable hours, which refer to the hours spent working on a case.
● Disbursements
Disbursements are legal fees other than the lawyer’s fees. In most cases, you will also have to shoulder other disbursements incurred in the case, such as photocopying, couriers, or court filing costs.
Lawyer Experience and Expertise
In most cases, experienced lawyers charge more per hour than less experienced lawyers. However, they may also take less time to do the same legal task. In addition, time spent in the courtroom is often more expensive than time spent in the office. Similarly, small business lawyers have different specializations, such as employment or tax, so their fees may also vary based on their expertise.
Hiring small business lawyers in Calgarybased can be a wise decision for your company, especially if you are unfamiliar with business laws and regulations. If you are not sure what type of small business lawyer you need, set up a meeting with a few different lawyers and discuss your needs and requirements. Ask them about their fees and how they can help you, so you can decide who will be the best fit.
