Minimize Your Risk

Lawyers minimize risk:

Think twice before suing clients for unpaid fees – change your fee structure and retainer agreement if at all possible in order to avoid getting into this situation and performing work without getting paid. Take larger retainers, use fixed, up front fees, etc.

Use engagement and non-engagement letters, and ensure that they clearly define the scope of work you will – or will not – be performing for a client

Insititue a rigorous conflict checking system

Ensure you have good backup systems

Use calendars, tickler systems well

Develop strict client intake and selection procedures

Develop and stick with your expertise – don’t venture into areas of practice in which you are not well versed – or associate with counsel that can help

Stay on top of your firm’s finances

Ensure that your billing and collection procedures are clearly explained to clients

Explore and manage clients’ expectations

Communicate clearly and often with clients and track that communication in the event it may need to be produced or recreated later.