DEFERRED FEES + EQUITY STAKE
This model is not for everyone. But, when it is right, it provides access to legal counsel during periods when it is expected to be regularly needed; alleviates demands on the client's near-term cash flow needs; and more closely aligns the interests of lawyer and client. On a very selective basis, after discussion and due diligence, fees (which may also be discounted) are deferred in whole or in part until certain milestones are met. In exchange for the risk taken, I am issued an equity stake or right to convert deferred fees into equity in a client's venture.
This fee model is subject to special legal and ethical considerations, including requiring that (1) the terms are not only fair and reasonable, but are clear to the client and put in writing, (2) the client is given a reasonable opportunity to seek advice of independent legal counsel, and (3) the client consents in writing (which, in the case of a business entity, will require approval by the board of directors or correlative body in an LLC or other business type). Like most other engagements, the terms of this fee model will be set forth in a written, enforceable Services Contract.
For business owners, sole proprietors, and budding entrepreneurs not quite ready to formally retain a business attorney, I am working on an online document e-Store. It will include a library of simple, common business documents. Some will be downloadable for free, and others available for purchase. They will be fillable contract templates. Click here to visit the future home of the future home of the WLF Document e-Store for more details.
I would love the chance to get to know you and your business, for you to consider me a professional resource to help protect your business or investment interests, to grow safely and to execute intelligently. Make an appointment today for a free consultation