A subscription based law firm provides a useful option for small businesses that want legal advice. Lawyers previously offered legal services on an hourly basis, which made the costs unpredictable for many small businesses. Learn more about how this new business model can empower any new and growing business.
What Is A Subscription Based Law Firm?
Simply put, a subscription based law firm offers legal services to clients on a monthly fee. This differs from the traditional law firm model of billing for time. This also differs from DIY legal services which do not offer legal advice. And from prepaid legal services, which are also generally not law firms.
Despite the simple concept, there exist few subscription based law firms. The Creators’ Legal Program represents the longest-running subscription based law firm model, but there are others, including subscription based law firms that focus on a specific area of law, such as food law (among other niches). We believe that the model will catch on more in the coming years, so learn more about what this model means for your business.
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How Can A Subscription Based Law Firm Empower Small Businesses?
Now that you know how what a subscription based law firm does, let’s dive into how it empowers small businesses.
- Proactive Legal Care: Proactive law shifts legal from being something that you use when something goes wrong (the expensive way) to something that you use to help things go right. With most subscription based law firms, you have the ability to easily reach out to an attorney to get answers before a small problem grows into a big problem.
- Your Attorney Knows You Better: Traditional legal services often focused on the single transaction: the contract, the business formation or whatever. But clients often did not have a long-term relationship with attorneys who understood their business. A subscription based law firm changes that, so that your attorney stays in touch as you grow.
- Cost Predictability: Law firms have a bad reputation for confusing costs. This harms small businesses who don’t understand their overall legal spend and get surprise bills exceeding the planned budget. Since most subscription based law firms operate on a monthly fixed fee, business owners get better price predictability.
That’s three ways that a subscription based law firms empowers small businesses. There are definitely more and as the model becomes more widespread, the benefits only increase.