How much does it cost to hire a Florida corporate lawyer? If you have a corporation in Florida, you may need a corporate attorney to assist with legal matters that affect your company. A common question to ask before hiring a lawyer is how much legal representation will cost. Let's explore this question and some basic information about corporate lawyers.
Based on ContractsCounsel's marketplace data, the average cost of a Florida corporate lawyer is $100.00 - $400.00 per hour.
How Much Does a Florida Corporate Lawyer Cost?
A corporate lawyer specializes in providing legal services and guidance to corporations. Many corporate lawyers are knowledgeable in the areas of litigation, tax law, employment law, intellectual property law, and other legal areas that can affect a corporation.
Before hiring a lawyer, it is important to find out how you will be charged for legal services and how much the legal services will cost. The cost of a corporate lawyer in Florida will vary based on several factors like the geographic area, the lawyer’s experience, and the amount of legal work that needs to be completed.
What Legal Services does a Florida Corporate Lawyer Provide?
Corporate lawyers provide an array of legal services to companies. Many business owners hire attorneys to help with business formation or providing legal guidance to board members.
Some common services that a business lawyer provides include:
- Corporation formation. When forming a new corporation, a business owner must decide which type of structure is best for their company. Most states have several options for corporations including S Corps, C Corps, non-profits, and professional corporations. Some things to take into consideration are management structure, tax benefits, services provided, and non-profit status.
- Drafting and filing corporate documents. Once a business owner has settled on what type of corporation they want to establish, they need to draft the state required documents and file them with the appropriate government office. In Florida, to establish a new corporation, a business owner must file Articles of Incorporation and corporate bylaws. A corporate attorney will know how to properly draft and file both of these documents. Hiring an attorney to complete this task will help avoid costly delays in establishing a new business.
- Contracts and agreements. One of the primary roles of a corporate lawyer is to draft and review business contracts and agreements. This can include service agreements, employment agreements, and vendor agreements. Hiring an experienced attorney to draft and review contracts ensures that the contract is legally enforceable and will protect the business from unwanted litigation.
- Compliance with state laws and regulations. In Florida, the laws that govern corporations change frequently. A corporate lawyer will stay up to date on these changes and can ensure that their clients are operating according to the new laws and regulations that affect their industry.
- Mergers, acquisitions, and corporate restructuring. Restructuring a corporation due to a merger or acquisition can be a complicated process. A business lawyer will conduct due diligence, identify legal risks and liabilities associated with the transaction, and work on drafting and reviewing necessary documents, like letters of intent, purchase agreements, and disclosure documents.
- Intellectual property rights. Most corporations have an interest in protecting their intellectual property like trademarks, copyrights, patents, and trade secrets. A corporate lawyer will know how to register intellectual property with the correct government agencies to protect the corporation’s rights and avoid infringement issues.
- Dispute resolution. Disputes are common in the corporate world. A lawyer can assist in settling legal issues in negotiation, arbitration, or by representing the corporation in a legal action in court. Most corporate lawyers are often trained litigators and are experienced with filing pleadings, conducting discovery, and presenting a case in front of a judge.
How Much Do Corporate Lawyers Take from Settlements in Florida?
The percentage that a corporate lawyer takes from settlements in Florida will vary depending on several factors, but the average contingency fee is between 30% and 40% of the final settlement.
Contingency fee agreements are most commonly seen in personal injury or civil litigation cases. Corporate lawyers tend to charge clients by the hour rather than agreeing to contingency based representation. Under an hourly rate fee agreement, the lawyer will keep track of all hours spent working for a client then bill the client at a predetermined hourly rate.
If the corporate lawyer does represent a client in a lawsuit, the fee will usually be based on the amount of time put into the case rather than the amount of the settlement. This ensures that a lawyer is fairly compensated for all hours spent working on a case.
How Much Do Florida Law Firms Charge?
Throughout Florida, attorney fees in all legal areas usually range from about $100 an hour to $400 an hour. These hourly rates will vary based on location, attorney experience, and specialization.
Attorneys may consider different factors when setting their fee rate and payment structure, like their experience, how many court appearances a case will require, and the rates of other similar attorneys in the area.
Factors That Impact Lawyer Costs
Area of Practice
The type of law that an attorney practices will greatly affect the cost of legal services. If an attorney practices in a specialized area of law that requires additional education or certification like patent law or appellate law, they can usually charge more for their time.
Corporate lawyers tend to specialize in various areas of law like employment law, intellectual property law, and tax law. The wide array of legal knowledge they possess makes them a valuable asset to many business owners.
In addition, many corporate lawyers are also trained litigators. This means they can file lawsuits on behalf of a corporation and defend the corporation if legal action is taken against the company. A corporate lawyer will be knowledgeable about civil court proceedings, rules of evidence, and presenting a case in court.
An attorney's experience will play a significant role in how much the attorney will charge clients for legal services. Experienced lawyers with more knowledge, a good reputation, and a proven track record in court are in high demand so these lawyers can charge clients more.
Experienced lawyers will have a more nuanced understanding of the law and be able to provide clients with more sound advice and guidance in corporate matters. An experienced lawyer will be familiar with common mistakes in contracts, or how to best negotiate through a corporate dispute.
Amount of Work
Different cases will require different types and amounts of work, and this will affect the overall cost of legal services. Complex cases involving research, depositions, negotiations, and court hearings can run up a substantial bill.
Corporate lawyers are typically hired to represent businesses on a long-term basis. This allows a business owner to consult with their attorney whenever they need legal guidance, or a contract drafted or reviewed. The amount that the lawyer charges will vary depending on the amount of work completed for the client.
Get Help with Hiring an Attorney
Do you need help with hiring a corporate attorney for a project? If so, post a project in ContractsCounsel’s marketplace to receive bids from corporate lawyers who are licensed to practice law in Florida and can handle your project. All lawyers on the ContractsCounsel's platform are vetted by our team to make sure you are provided with top-tier service.