Financing A Law Firm

The Law Firm Finance section of FindLaw's Law Firm Management Center provides free resources related to financial issues encountered by solo and small law firm practices. Business issues such as Finance Basics, Legal Funding, Loans and Credit Cards, How to Price Legal Services, and Closing Business are vital to the long-term success of your law firm. Finance is the engine that propels business. As a small business owner, you need to understand financial issues well enough to make informed decisions that impact your law practice. Browse, read, and share FindLaw's collection of articles, tips, and lists that focus on Law Firm Finance.

Learn More About Financing A Law Firm

    • Pricing Legal Services

      Setting fees for legal services is obviously a major issue to consider, not only when establishing your practice, but throughout the life of your law firm. There are various ways to price your fees. Some methods require heavy calculations, while others simply require you to survey the market to help determine your fees.

      Financing Basics: Do You Have Enough Business Capital

      While poor management is cited most frequently as the reason businesses fail, inadequate or ill-timed financing is a close second. Whether you're starting a business or expanding one, sufficient ready capital is essential.


      What Attorneys Should Know About Accepting Credit Cards

      Figuring out how best to accept credit card payments from your clients can be a daunting (and intimidating) process. From deciphering all the techno-babble about complicated fee structures and minimums to choosing an account that gives you the maximum amount of control over your money - you'll be swimming in murky water at the best of times (and you've got to watch out for sharks).

      Financial Management in a Contingent Fee Practice

      This article illustrates how borrowing funds and converting non-deductible litigation expenses into tax deductible expenses has the cumulative dual benefits of creating a larger pool of funds for law firm investment in litigation costs, growth and partner distributions, and reducing the firm's net cost of using borrowed funds.


      What Lawyers Don't Get About Finance

      There are two kinds of people in the world, says finance expert Tom E. Greene: word people and number people. Most lawyers fall into the first group, which explains why they either panic or gloss over when faced with financial concepts in litigation.

      What is a Balance Sheet?

      The balance sheet is a snapshot of the company's financial standing at an instant in time. The balance sheet shows the company's financial position, what it owns (assets) and what it owes (liabilities and net worth). This article describes the elements of a basic balance sheet.


Financing A Law Firm Articles
    • Types of Pricing for Legal Services: Hourly Billing
      Provided by Editorial Staff of FindLaw
      After calculating how much your small law practice needs to make a profit and your reasonable hourly rate, you are ready to consider the available pricing options. There are various ways to price your legal services. This article discusses hourly pricing.

      Read More »

    • Pricing Legal Services
      Provided by Editorial Staff of FindLaw
      Setting fees for legal services is obviously a major issue to consider, not only when establishing your practice, but throughout the life of your law firm. There are various ways to price your fees. Some methods require heavy calculations, while others simply require you to survey the market to help determine your fees.

      Read More »

    • Types of Pricing for Legal Services: Contingency Fees
      Provided by Editorial Staff of FindLaw
      After calculating how much your small law practice needs to make a profit and your reasonable hourly rate, you are ready to consider the available pricing options. There are various ways to price your legal services. This article discusses contingency pricing.

      Read More »

    • Why a Contingent Fee Agreement is Necessary
      Provided by Robert E. Potrzebowski of Kohn Law Firm S.C.
      Occasionally, a new or prospective client indicates a desire not to sign a formal contingent fee agreement. In most instances, there appears to be a concern that such an agreement somehow obligates the creditor or forwarder to an exclusive relationship, or at least one of a defined time period.

      Read More »

    • Understanding the Legal Fees Agreement: Consumer Rights
      Provided by Richard Alexander of Alexander, Hawes & Audet, LLP
      Once you have found the "right lawyer," you will want a written fee agreement explaining what you want the lawyer to do, what the lawyer has promised to do for you, and what it is going to cost.

      Read More »

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