We tailor service and fee models to our client’s particular needs. We will generally use one or more of the following services models in our client relationships.
The starting point for most of our clients is a traditional, hourly billing arrangement (the model used by most legal services providers). Our client pays for our services based on time spent and the applicable hourly rate. This model is preferred by clients that have unpredictable legal resource needs and want to engage our services on an as-needed basis.
Retainer Based Fees
A retainer based model is appropriate when our client has a fairly consistent need for legal counsel. The client pays a base monthly retainer to ensure our availability for an agreed upon time commitment, and a reduced hourly rate for additional needs beyond the time commitment. This model works well for companies that rely on us for broader general counsel or that have a consistent level of transactional activity (for example, a company that has a significant amount of commercial activity may need ongoing assistance with non-disclosure agreements, license agreements and other commercial transactional needs). This model results in overall reduced fees for the client and enables us to ensure that dedicated resources are allocated to the client’s representation on an ongoing basis.
A modified retainer-based model may be desirable for investor groups to promote to their portfolio companies. We could determine an appropriate retainer base and hourly rate for the participating group. The participating companies will gain access to more cost-efficient legal services as a result of their association with the other companies.
Fixed or Capped Fee
Certain projects may be undertaken on a fixed fee or capped fee basis. For example, we may use this type of fee model for certain business formation projects, stock (equity) compensation plan implementation, annual corporate governance and certain commercial contract needs.
Venture Counsel Group, LLP is a business law firm serving the San Diego
3525 Del Mar Heights Road #346
San Diego, CA 92130
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