It's official: "Lawyers are not cost-effective"
Imagine, for a moment, that when faced with a serious illness, significant numbers of people took no action. And of those who did take action, around two-thirds ‘self-medicated’, either using their own judgement, or seeking help from friends and family.
The remaining third? Around half sought formal medical advice from a medical practitioner. But the other half, while seeking advice, consulted a wide range of other advisors and practitioners—some relevant, others not.
It’s a fictional scenario, to be sure. But replace the words ‘serious illness’ with ‘legal problem’, and it turns out to be a set of behaviours that accurately captures what real-life small businesses do.
And the figures themselves, to be clear, come from official regulatory body the Legal Services Board, in the shape of research into what exactly small businesses did in order to meet their legal needs. Some 9,703 small businesses were surveyed by YouGov, with the findings analysed by Professor Pascoe Pleasence and Dr Nigel Balmer of University College London—one of Britain’s premier universities.
Value for money? No.
So what’s going on? Just why do so many small businesses fail to seek appropriate legal advice?
Stripped to the basics, the answer is a stark indictment of Britain’s legal profession. For while significant numbers of the 9,703 small businesses surveyed agreed that due legal processes are essential if businesses are to be able to enforce their rights, an even larger proportion doubted that lawyers actually provided a cost-effective means of doing that.
Put another way, just 13% of those 9,703 small businesses—fewer than one in eight—thought that lawyers provided a cost-effective means of resolving legal issues.
The facts were clear, said the University College researchers: there was a strong perception that providers of legal services weren’t good value for money, with a consequent challenge to legal services firms to offer a better proposition.
The problem? How to do this economically.
Here at The Legal Director, it’s our belief that our approach to pricing and delivering legal services is the way of the future. Quite simply, it allows smaller businesses to buy—and budget for—legal services on an affordable basis.
Either on a project basis, or on a fixed-fee retainer, we agree a scope of work and a fixed price with our clients. There are no hidden surprises, and clients know in advance what the cost will be.
Put another way, it’s like having your own in-house corporate lawyer, on-tap whenever you need them. Already budgeted for, already factored into the cost of doing business. And always on-hand and available for whatever legal challenges come along.
What’s more, our name provides a strong clue as to the nature of the relationship that we aim to build with you. Quite simply, we strive to become part of the management team—an on-site, on-tap legal director, working with you for as many days a year as you require.
What clients say
But don’t just take our word for it. Listen to what our clients told us, when we recently conducted a ‘voice of the customer’ exercise, in order to assess how well we were meeting their needs.
- “The pricing is clear: the clock isn’t ticking"
- “They are my in-house counsel, and have their own email addresses"
- “They’re a real part of our senior management team."
- “They prevent us from taking unnecessary legal advice."
- “They’re more ‘legal consultancy’ than a law firm, we find."
- “We like the clarity of pricing—it’s better value than a law firm.”
- “We don’t like law firms; they feel adversarial.”
From that, we think it safe to surmise that none of our clients were among those of the surveyed 9,703 small businesses expressing their dissatisfaction to the Legal Services Board.
Simply put, at The Legal Director, we specialise in providing clear-cut legal advice in business-friendly language. Providing it affordably, to suit a business’s own needs and workloads. And providing it in a range of offerings stretching from a fixed-fee monthly retainer starting at £100 + VAT for telephone advice, to your own part-time legal director, working alongside your own board of directors.
To find out more, please call James Mallender on 07968 089 971.
Posted Tuesday, January 20th, 2015 by Warren RylandTweet
Other Articles In This Category
- I'd like to work from home, says an employee. Now what?
Conversations about employees working from home were once very short. In those rare instances where employees did venture to enquire about the possibility, the... read more
8th of January 2018 by Warren Ryland
- Is a domain squatter set to steal your brand?
It’s fair to say that many businesses are unprepared for the new .uk Internet domain - which is unfortunate, as from June 2019, they could find that their... read more
5th of December 2017 by Warren Ryland
- Did you negotiate your last loan agreement - or just sign on the dotted line?
For businesses wanting to grow or invest, external finance can be an attractive option: access to the funds that they need, without equity dilution or... read more
2nd of November 2017 by Warren Ryland
- Protecting the value of your newly-acquired businesses can be a challenge
Buying a business is exhilarating. Hard work, to be sure - but undeniably exciting, and with a rich sense of the opportunities that lie ahead. So perhaps... read more
2nd of October 2017 by Warren Ryland
- GDPR. The clock is ticking: a tough new take on data protection is fast approaching
With effect from 25 May 2018—in other words, less than a year away—your business is exposed to a new regulatory regime backed by hefty fines. And by... read more
6th of September 2017 by Warren Ryland
- Persons of Significant Control: important changes to reporting requirements
It’s barely a year since the introduction of the PSC regime - and already, the compliance requirement has been tightened. And at a time when many businesses... read more
23rd of June 2017 by Warren Ryland
- Avoiding conflict when forming a business: probing questions for potential partners
Every year, several hundred thousand new businesses are created. In 2015, according to the Office for National Statistics, the total was 383,000—the highest... read more
28th of April 2017 by Warren Ryland
- Is your business at risk from the Uber decision? Why your self-employed contractors could really be employees
Fuelled by companies such as ride-hailing business Uber and personal courier firm Deliveroo, the so-called ‘gig economy’ is on the rise. So much so,... read more
12th of January 2017 by Warren Ryland
- The Legal Director - Commended for Innovation in the FT Innovative European Lawyers awards
Law firm The Legal Director (TLD) has been commended in the FT Innovative European Lawyers awards, which were announced at the beginning of this month. TLD ranked... read more
28th of October 2016 by Warren Ryland
- Debt versus Equity - Financing for SMEs
The need for additional finance is often the price of success for small to medium-sized enterprises (SMEs) that are looking to grow. The question that faces the... read more
14th of October 2016 by Warren Ryland
- The deceptive complexity of the Modern Slavery Act
At the end of July, Prime Minister Theresa May launched a cabinet-level government taskforce to eradicate modern slavery in the UK. It was, she said, “one of... read more
31st of August 2016 by Warren Ryland
- How our clients will benefit from the Bar Council's escrow account
Outside the narrow realms of consumer technology, there’s often an inevitable trade-off between cost and quality. In other words, you can have something at... read more
7th of July 2016 by Warren Ryland
- As the net starts to close, the Bribery Act prosecutions begin
As we have written before, the Bribery Act 2010 is a law with undoubted teeth. Fines are potentially unlimited, and custodial sentences can be up to ten... read more
1st of May 2016 by Warren Ryland
- New rules on shareholder identification are now in force
New rules on shareholder identification are now in force - and yet many businesses aren’t aware of them. Does your business have corporate or nominee... read more
12th of April 2016 by Warren Ryland
- First SRA-regulated law firm signs up to Bar Council's escrow account
PRESS RELEASE: The Legal Director has become the first law firm regulated by the Solicitors Regulation Authority (SRA) to sign up to the Bar Council’s... read more
31st of March 2016 by Warren Ryland
- Trade marks: the 3 biggest mistakes to avoid
Wander around a supermarket, or browse the advertisements in newspapers and magazines, and you’ll see trade marks everywhere. And it’s likely, too, that... read more
29th of February 2016 by Warren Ryland
- Avoiding flexible working's hidden pitfalls
You don’t have to look too far to see that traditional modes of employment are increasingly giving way to more flexible working arrangements. Returnee... read more
9th of November 2015 by Warren Ryland
- Are you paying your workers the right amount of holiday pay?
A recent ruling by an Employment Appeal Tribunal is set to cause many businesses a headache. Quite an expensive headache, at that. Simply put, it means that... read more
15th of July 2015 by Warren Ryland
- The Bribery Act 2010: are you running a risk of breaking the law?
To see the difficulties that businesses can get into through bribery - or even allegations of bribery - look no further than the reputational damage suffered... read more
11th of June 2015 by Warren Ryland
- Could a Shareholder Agreement save your business?
Here at The Legal Director, we’ve recently come across a business where the two co-founders have fallen out -- one is now leaving, in order to set up on his... read more
1st of December 2014 by Warren Ryland
- The high-fee culture that's hobbling British business
Another week, and yet another critical item in the press on the cost of obtaining corporate legal advice. And to be sure, it’s certainly a fairly open goal at... read more
11th of November 2014 by Warren Ryland
- Is crowdfunding the answer to your business's financing challenge?
As the credit crunch and ensuing recession of 2008 began to bite, lending to businesses dried up. To their shock, even long-established, profitable businesses... read more
2nd of September 2014 by Warren Ryland
- Complying with the Data Protection Act: 3 business bear-traps awaiting the unwary
Visit the website of the Information Commissioner’s Office, and there’s an interesting section entitled ‘Enforcement’. In it, the... read more
1st of September 2014 by Warren Ryland
- What might a Legal Audit reveal about your business?
When we start working with a business we assess their existing legal arrangements to determine how these can be improved and aligned with commercial objectives. We... read more
9th of July 2014 by Warren Ryland