How Prepaid Legal Services Can Benefit Your Business
As a small business, you probably can’t justify hiring an in-house counsel. But, at the same time, waiting for a crisis situation before reviewing an old vendor agreement or paying large hourly rates when you need a new contract doesn’t make sense either. The advantages of InPrime:
- Flat Monthly Fee (No More Expensive Surprises)
- We’re Proactive–Not Reactive
- We’re Problem Solvers – We Do It Right, We Do It Fast
- Our Priority is Profits: Yours – And Ours.
- ROI – A Minimum 10x Return on Your Investment
What is a Prepaid Lawyer?
Due to the high costs associated with having in-house counsel, legal subscription models – or prepaid legal services – have grown in popularity in recent years. These legal services providers offer legal work for a flat fee or subscription, or standard documents that, for a price, can be tweaked to fit your needs and reviewed by an attorney before finalizing. Each of these providers offers something a bit different, from most online and email assistance to strategic legal planning.
How InPrime’s Small Business PrePaid Legal Plans Work
If you’re after a proactive business lawyer and trusted advisor, then InPrime Legal’s prepaid offering will meet your needs better than the online options of LegalZoom and RocketLawyer or even LegalShield’s firm network that provides packaged plans for basic business law matters. For a flat monthly fee, InPrime Legal provides a dedicated team of attorneys who operate as your in-house legal department and proactively identify risks before they become problems. Think of it as a sort of “law insurance.” With InPrime Legal, you get a custom arrangement that isn’t limited to online forms, or to a set amount or type of consultation like with other prepaid plans.
How InPrime’s Plans Work
Let’s take a look at each prepaid provider and how they work:
|InPrime Legal||LegalShield||LegalZoom||Rocket Lawyer|
|Main Delivery Method||Dedicated legal team from InPrime||Assigned firm from list of 39 nationwide||Online||Online|
|Client Base||Small and medium-sized businesses||Families and small businesses||Families and small businesses||Families and small and medium-sized businesses|
|Fee Basis and Services||Monthly flat fee covers all services provided by team of attorneys who serve as in-house counsel||Subscription for unlimited basic business advice and limited consultations; flat rate for additional services and discounted hourly rate for complex matters||Priced per DIY document or legal transaction; subscription for limited attorney access and discounted rates for use of in-network attorneys||Membership provides access to sample documents and attorney review mostly through email; referral to local lawyer for other matters at discounted rates|
|Risk Identification||Yes – review of all contracts and legal documents for potential risk||No||No||No|
|Proactive or Reactive Approach||Proactive||Reactive||Reactive||Reactive|
|Strategic Meetings||Quarterly meetings plus regular member huddles as well as meetings at client request||N/A||N/A||N/A|
What are Online Legal Services?
LegalZoom and RocketLawyer are basically online legal services. These providers best serve:
- Companies that don’t need strategic legal advice,
- Companies that do not require counsel on complex matters,
- Companies that don’t need any customization, or
- LegalZoom and RocketLawyer focus on providing documents and basic ongoing legal advice
What is LegalShield?
While LegalShield was founded on the premise of providing accessible and affordable legal representation, most of its plans’ services are focused on legal issues related to basic business matters. Services like custom contract drafting, creating an employee handbook, and providing trademark and copyright work are separate add-ons at flat rates. Customers are assigned a lawyer from LegalShield’s network of 39 affiliated law firms.
How is InPrime Legal different?
Comparatively to LegalZoom and LegalShield, InPrime Legal wants to be your strategic partner and operates as your in-house legal department. InPrime Legal starts with an exposure inspection, during which it looks at everything from your corporate structure to leases and contracts to intellectual property protection. InPrime Legal’s team then assesses your company’s potential legal risks. Based on the inspection, the dedicated legal team will prepare a report where they detail an action plan for addressing each of these areas.
Our Approach to PrePaid Legal
Step 1 – Exposure Inspection
InPrime Legal starts with an exposure inspection. As part of the free evaluation, your dedicated legal team looks at everything from:
- Your corporate structure,
- to leases and contracts,
- to intellectual property protection.
Step 2 – Assess Your Company’s Legal Risk
InPrime Legal’s team then assesses your company’s potential legal risks. Based on the inspection, the dedicated legal team will prepare a report where they detail an action plan for addressing each of these areas.
Step 3 – Move from Reactive to Proactive Legal Approach + Regular Check-Ins
Through this proactive approach of addressing issues before they become problems, InPrime Legal has saved clients thousands and thousands of dollars. In fact, the legal team keeps track of the return on investment in InPrime Legal’s services and regularly reports it back to management. Through this proactive approach of addressing issues before they become problems, InPrime Legal has saved clients thousands and thousands of dollars. In fact, the legal team keeps track of the return on investment in InPrime Legal’s services and regularly reports it back to management.
How does InPrime Legal Strategically Address Issues?
More Complex Service Offerings
In addition to addressing the issues that come out of the inspection report, the InPrime Legal team is available to work with company management on legal projects just as an in-house legal counsel or department would. Services include:
- project management of complex issues and deals,
- employment law,
- intellectual property,
- corporate and competition counsel.
Dedicated Legal Team
The dedicated legal team is spearheaded by a chief legal officer (CLO), who will hold regular meetings with owners and key management to review and prioritize legal projects. The CLO will also host quarterly strategic meetings to match the legal plan to corporate vision and initiatives.
Free Business Evaluation
Let the InPrime Legal team serve as your dedicated and strategic legal advisor and in-house legal team, proactively working to prevent your legal exposure.
Contact us today for a free exposure inspection.