Penny Wise & Pound Foolish: Counseling the Fee Sensitive Client
by Jennifer L. Villier, JD | Business Law Faculty, WealthCounsel
Legal engagements involving fee sensitive clients present certain challenges that attorneys should be prepared to navigate. While many potential clients understand that the saying, “You get what you pay for” generally applies to legal services as much as it applies to anything else, the reality is that some clients may be looking to cut corners or do the bare minimum to accomplish a legal or business objective. When faced with these clients, attorneys should be sure to explain any risks of a limited engagement and fully document the scope of the legal services to be provided in an engagement letter.
Luckily, there is no shortage of case law to illustrate the risks involved with skipping recommended steps and agreements in small business planning. Take a look at one such case—Kilpatrick v. White Hall on MS River, LLC—recently decided by the Supreme Court of Mississippi. Download this article to learn more.