Archive:Financial and Legal Costs/Legal Fees

Legal fees are usually established on an hourly-basis with an attorney or as a percentage of the transaction. Attorneys may charge $200 to $800 per hour or more, depending on the circumstances of the transaction, the county laws involved, and the complexity of the case.

Areas where a risk manager might need support of either in-house or specialized legal advice include the following:

• preparation of documents
• collection of bad debts
• mergers and due diligence
• bankruptcy/litigation
• contract preparation
• loan analysis
• negotiating and preparing of promissory notes that replace late accounts receivable

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