How Much Do Lawyers Charge to Review a Contract
How Much Do Lawyers Charge to Review a Contract

How Much Do Lawyers Charge to Review a Contract?

It’s worth it to find out how much a lawyer will charge to review an agreement, because a review service can be vital when about to sign an agreement. Ultimately, it is always a good idea to have an expert take a look at any binding legal document to ensure everything is airtight. A contract review lawyer will look at the wording and format because they need to be very specific in order to be legally binding. Costs vary depending on a number of factors.  For instance, how much do the terms impact the cost and how much does the complexity of the agreement provide the contract lawyer to adjust the fee.

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Why Hire a Lawyer to Review and Pricing

When hiring a lawyer to review your contract, you are getting their years of experience and knowledge. You, of course, want the best deal you can get and by having a professional look over the wording, format and points of interest, you will be confident that the contract review will contain much of what is needed. It might cost something, but in the long run it can save you a lot of money over a long period of time.

The Contract Review Fee Depends on Various Basic Factors

What your legal fees will be for a contract review depends on a number of things. Some of the factors it depends on are:

  • How long the review is
  • The complexity of the contract review
  • How often you need help from the lawyer with drafting the contract
  • What the lawyer needs to look for within the text
  • The rules and regulations in your particular industry
  • The number of parties involved and signing the contract
  • Attorney fees

Overall Pricing for a Contract Review

Lawyers will typically either charge a flat rate or an hourly fee. The flat fee may be determined after the lawyer performs the contract review and determines how much time will be involved. The hourly fee usually depends on the lawyer’s expertise, but it can be anywhere from $100 up to $750 per hour. Sometimes you can get off with a less expensive review if there is a very simple question and you just want the lawyer to explain some matters to you.

To be sure an employee’s employment agreement covers all aspects of employment, it is important to know what should be included in an employment agreement. After all, an employee’s future employment and potential income is going to depend on that employment agreement being clear-cut and accurate.  Thus, a potential employee would be foolish to enter a new job and sign an employment agreement without reviewing the employee’s job responsibilities enumerated in the employment agreement.

How does a Contract Review Happen?

There are a number of things to look for when reviewing contracts.  So, how do you review a contract? It is very important that the agreement does reflect the language that and employee needs and wants. An employee needs to ensure the review hits on all the key elements required in a contract review. If an employee wants to embark upon this without the aid of a lawyer, an employee will find points below to be aware of. To make sure important points of a contract review are properly reflected, there are a few steps an employee should do.

  • Know what an employee should expect from the employment agreement law
  • Ensure that the contracts clauses are documented correctly
  • Read the entire contract to see that it aligns with an employee’s expectations
  • Look to see if any important language is missing
  • Determine what changes are needed so the employee can negotiate the changes and comply with the law

An employee should want to hit key points when reviewing the employment agreement (as in the third step above). Some of the key points are:

  • Any capitalized language should be properly defined
  • The parties involved need to be properly identified
  • Signature blocks should be correct in contracts
  • The term of the contract should be identified
  • Can termination be done early and what are the rights of the parties involved in contracts?

Of course, the main thing that can inhibit an employee’s understanding of an employment agreement and its points would be legal terms used that an employee doesn’t know. Words or terms like ‘non-solicitation,’ indemnification,’ ‘boilerplate provisions,’ and others can stop an employee from understanding exactly what an employee will be signing. It is important to get any language defined accurately.

What to Ask for in Employment Contract Review Terms

There are many things that need to be included in an employment agreement. So, what should be in an employment contract? A lawyer is needed to ensure that the employment agreement is legal and does follow state law. Job responsibilities and duties must be included  to ensure the wording and legality of each point is intact. Some of the employee and employment language that does need to be included in employment contracts follow:

  • Classification of the employee – whether the business classifies the employee as  an employee or an independent contractor
  • Employee Benefits and compensation – outlining the employee’s benefits and compensation package, salary or hourly pay, etc.
  • The employment schedule – whether employment is for a set term or if it is ongoing
  • Employee’s Privacy Policy – clarifying what the employee can do regarding use of the employee’s email or social media when on the business property
  • Sick days, time off, vacation policy – clearly explaining the employee’s time off, how many sick days and how many vacation day are accrued
  • Conditions of termination for Employees – explaining how either party (the employee and business) will terminate the working relationship
  • Requirements after termination – any post employment restrictions on an employee who has left the business
  • Loans – Are they repaid?
  • Confidentiality agreement – ensuring the business or firm’s trade secrets and other sensitive information is protected by the law

It is important to have employment contracts reviewed to ensure that everything is in the employment agreement that should be and to ensure that both employee and employer will be happy with the employment agreements. The help of legal council is vital so that any points that need to be negotiated can be taken up effectively. When all key elements are included in an employment agreement, everyone will have the confidence and security needed to move forward with the employment and sign the contract.

Employment contracts must be signed with confidence that all the expectations of the position are communicated.  There are a number of things that should be reviewed and ascertained as to their legality. Such things as benefits, paid time off, starting salary, and schedules must be effectively laid out. The best person to review these matters is a lawyer. A lawyer has the knowledge and experience to review a contract and to put any concerns to rest.

Employment Contract Attorney

If you don’t want to take on the risks of not reading a contract, getting a lawyer is the best way to go. The price you pay to have attorneys review agreements can save you a lot in the long run, so it will be worth it.