How an Information Technology & Services Business Hired a Lawyer to Draft a Profit Share Agreement in New York

In 2023, a business in New York sought assistance in drafting a profit share agreement to facilitate the integration of a web3 swap widget into their application. The client aimed to establish a service agreement that detailed the fee-sharing arrangements for the income generated from the widget, which would initially span 12 months and could be renewed every six months, with the option for either party to issue a month’s notice for non-renewal. Given the urgency of the situation, the client needed this document completed as soon as possible, ideally within a couple of days. As a result, the client received 11 proposals from qualified attorneys, with flat fee bids ranging from $450 to $1,600. All submissions were made in alignment with the tight deadline