Prepaid legal services can benefit small businesses to a large extent. From the moment you establish your business, you would need legal assistance and guidance at every step.
With a start-up that demands all your time and resources, you wouldn’t have time and expertise to handle all legal situations singlehandedly. Also, it is extremely difficult to stay abreast with all the laws and avoid lawsuits without the help of start-up legal solutions. You do have the option of investing in good legal software, but it can never replace an actual legal advisor who can give you end-to-end solutions.
Hiring small business legal assistance to guide you at all times would take your mind off of legal issues like compliance, copyright issues, employee contracts and lawsuits. You can concentrate fully on your business without having to worry about
However, that being said, it is extremely difficult for a start-up to afford an expert legal counsel for a longer duration. This is especially the case when you have some lengthy legal procedures and your business legal service provider charges on a per hour basis.
This is where prepaid legal services come into the picture.
Prepaid Legal Services for Small Business
For small businesses which work on a tight budget, prepaid legal services can prove to be a boon. You can get affordable business legal services for a fixed monthly payment.
Depending on the kind of business you run and the kind of small business legal assistance you want, you can select a package which suits your requirements. Since the monthly fee is fixed, you wouldn’t have a budget shock in case of a sudden legal glitch which would require the guidance of a business legal service provider.
There are many more advantages of investing in prepaid legal services than just the affordability.
So if you haven’t invested in an outsourced business legal service for your business yet, here are few pointers that would help you understand if prepaid solutions would make more sense to your business.
Advantages of Prepaid Legal Services for Small Businesses
Following are some of the biggest benefits of using prepaid legal services for your business.
1. Saves Time and Resources
Imagine having to search for a legal services company after you get into a legal glitch? You would be wasting too much of man hours in sourcing the best legal counsels and short listing the one that would fit your requirement and budget.
Not only will the process become more tedious but will also become unnecessarily complicated. You would end up paying more because you wouldn’t have the time and leverage to seek the right legal advisor who fits your budget due to sheer lack of time and urgency of the situation.
2. Peace of Mind and Complete Security
Since you have already paid for the services, you can rest assured that you will surely have a legal advisor to assist you if something goes awry. Irrespective of whether the issue is small or big, you will surely have someone to get you out of the situation or help you get through it easily.
You can also reach out through emails, chat or by a phone call 24/7. The online legal services would ensure that you are always connected to your service provider and enjoy complete peace of mind.
You can also get your query resolved by their prepaid legal customer service which is inclusive of your package and saves a lot of time and hassle in dealing with petty legal issues.
3. You Know What Services You Will Get Beforehand
Prepaid legal services are often package-based and you can opt for the kind of package that would fit your requirements based on your company size and business type.
You would know beforehand if a certain legal compliance would be covered in your package or not and hence save a lot of hassle. In addition, some providers also give special discounts for lengthier procedures which are not covered initially in the package.
4. Cost Effectiveness
At an affordable pricing, you can get a variety of legal services specially designed to suit your small business’ needs. Since the monthly fees are fixed, small businesses wouldn’t have to worry about budget crunches.
When compared to the cost of hiring the services of a legal attorney, the cost involved in prepaid legal services is a great deal lesser and more upfront.
When you hire an attorney, there are so many things you need to take into account. Also, it also has a lot of hidden charges which you would get to know at the time of payment.
This might get confusing and sometimes will come as a shock to a small business person working on a tight budget. You would also have to understand and weigh the pros and cons of every payment mode available.
Understanding everything about the contingency fees, statutory fees, and flat fees along with the attorney’s hourly rates can get pretty daunting for a small business owner.
6. Preventive Services
These prepaid packages give you access to their customer care services that would guide you through the legal procedures and small compliance and help you avoid legal complications.
This is like a preventive service which can save your time, resources and money from expensive and lengthy litigations. They would help you detect and rectify small legal mistakes that have a potential to backfire on a later date.
In short, prepaid legal services will prove to be an absolute boon to small businesses which can otherwise not afford expensive legal counsel.
Everything has its own disadvantages and some may argue that such online legal services deprive your business of the personal relationship between an attorney and client.
While this has a potential of paving the way to confidentiality issues, prepaid legal services sure have a lot of positives that would surpass the disadvantages.
With some dedicated research and careful analysis of your business’ legal requirements, you are sure to find the best prepaid start-up legal solutions company that can give you the best package for all your legal needs.