I run a small business and I need to get my conract reviewed. I already have someone but I want to know if I'm paying too much. I know most attornies charge hourly. Its roughly 2 pages of Terms. How much would you estimate it costing?
Attorneys' rate can vary widely, perhaps from $125 (which I think would be very low) to well over $500 per hour. The amount of time it would take to review and analyze a two-page contract could also vary widely depending on whether there are certain statutes or regulations that are cited, which the attorney might need to research, or whether the attorney needs to do some independent research about your industry to see whether the draft contract takes into account certain issues that might arise in your business.
It is extremely difficult for us to give an estimate without knowing what the contract says, how much work needs to be done to "fix" it, and whether you want the attorney to make suggestions, redraft it, add to it, etc.
That said, you could be looking at a minimum of two hours for review, analysis and research, plus additional time to prepare a memo to you or meet with you regarding the analysis and suggestions. I could also envision a scenario where even ten hours would not be unreasonable for a two-page contract, depending on your industry and what you want included.
The "investment" you make to have an attorney do an in-depth review, regardless of cost, will surely pay off in the event you ever end up in a contract dispute. Most of the "self-drafted" contracts I have seen are in need of some serious repairs, even where the business owners who drafted them are sophisticated businesspersons.
Jacob Adam RegarCar / Auto Accident LawyerEncino, CA ·
Without seeing the contract in its entiriey and knowing precisely what the owner of the contract wants to get out of hiring the attorney to review it, it is very difficult to provide an estimate. Most likely, you want to know if it accomplishes what you intend for it to accomplish. It's manifesting that intent in written word that becomes the real challenge--one better left to a legal professional...
It would be helpful to know what you are paying your current attorney for this project. Why? Because then it would at least provide some insight into what a lawyer (even if it's just one) thought it was worth to thoroughly review the contract.
Do you want the attorney to perform a thorough review and then tell you whether they believe all or at least part of it is contractually valid? Or do you also want to lawyer to make additions and corrections if necessary?
Bottom line, without knowing what the contract looks like and what specifically you want the attorney to accomplish, it's too speculative to through out a number.
Contact your attorney and question their price (if you haven't already done so) and listen to their reasons for their price. If you are unsatisfied with your lawyer's work, see if you can find another attorney before they have performed their end of the bargain.
I agree with my colleagues. Without even knowing the subject matter of the contract, it would be impossible to give you a response, other than to tell you that attorneys for such work charged on an hourly basis, ranging from $150 to $1,000 per hour, depending upon the experience of the attorney and the size of the law firm.
