Financing A Law Firm
The Law Firm Finance section of FindLaw’s Law Firm Management Center provides free resources related to financial issues encountered by solo and small law firm practices. Business issues such as Finance Basics, Legal Funding, Loans and Credit Cards, How to Price Legal Services, and Closing Business are vital to the long-term success of your law firm. Finance is the engine that propels business. As a small business owner, you need to understand financial issues well enough to make informed decisions that impact your law practice. Browse, read, and share FindLaw’s collection of articles, tips, and lists that focus on Law Firm Finance.
Financing A Law Firm
Learn More About Financing A Law Firm
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How to Price Your Legal Services
Setting fees for legal services is obviously a major issue to consider, not only when establishing your practice, but throughout the life of your law firm. There are various ways to price your fees. Some methods require heavy calculations, while others simply require you to survey the market to help determine your fees.
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Financing Basics: Do You Have Enough Business Capital
Sufficient capital is essential for a successful business, as is having the understanding of how to manage it properly. To avoid missteps, there are several key considerations every business owner should reflect upon before seeking financing.
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What Attorneys Should Know About Accepting Credit Cards and Online Payments
While achieving victories for your client is certainly rewarding, the case really doesn't end for you until your fees are paid. Many firms take credit card payments as this is often an easier option for clients, but it's important to understand how the credit card purchasing process works. This article covers some of the key credit card processes you'll encounter as well as more affordable options that exist.
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Financial Management in a Contingent Fee Practice
This article illustrates how borrowing funds and converting non-deductible litigation expenses into tax deductible expenses has the cumulative dual benefits of creating a larger pool of funds for law firm investment in litigation costs, growth and partner distributions, and reducing the firm's net cost of using borrowed funds.
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What is a Balance Sheet?
The balance sheet is a statement of an organization's financial condition on a given date. It is a crucial tool for you and others to understand the value of your company and the state of its financial health. Find out more about the various sections that make up a balance sheet.
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Lawyers: Accepting Credit Card Payments Via Smartphone or Tablet
With mobile credit card processing through your smartphone or tablet, it's easier than ever to get your legal fees paid by credit card.
Financing A Law Firm Articles
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Types of Pricing for Legal Services: Hourly Billing
As part of determining the pricing method you wish to use to set your fees, you need to consider the available pricing options. There are various ways to charge for your your legal services – hourly, contingent fee, fixed rate, or some alternative structure. This article discusses hourly pricing.
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Types of Pricing for Legal Services: Contingency Fees
In conjunction with an evaluation of the different pricing methods, you must also determine whether you want to use hourly billing, contingency fees, fixed fee, or an alternative fee structure. This article focuses on contingency pricing.
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How to Price Your Legal Services
Setting fees for legal services is obviously a major issue to consider, not only when establishing your practice, but throughout the life of your law firm. There are various ways to price your fees. Some methods require heavy calculations, while others simply require you to survey the market to help determine your fees.
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Asset Liquidation Checklist
The time may come to close your business. If you are not able to sell your business and other succession strategies have failed, liquidating the assets may be the only remaining option.
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Small Business Succession Planning Strategies
There are more than 27 million small business owners in the United States. At some point during the life of the business, many business owners will have to decide when the right time to step out of the business will be, and the best way to do it. There are many tools business owners can use to transfer their business. Selecting the right one will depend on the circumstances -- whether business owners plan to retire from the business or keep it until they die. If the business owner has partners, it can be one of the most important decisions a business owner will make.
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