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ATTORNEY FEES
Even if you use a small firm, the costs will be high. Many firms want an up-front retainer: The firm will estimate the cost of the work and perhaps require several months up front. From this amount, the firm will pay for its legal fees, which range from $200 to $600 per hour.
Some cutting-edge law firms will take alternative forms of compensation. For example, a firm may take a part of its fee as equity in the company. In fact, this may provide an incentive for the attorney to make the deal work smoothly. But this potentially poses a conflict-of-interest problem. Is the advice the attorney providing for his short-term self-interest or for the long-term interests of the firm?
