WHAT IS A LEGAL RETAINER ARRANGEMENT?
It is when a company retains the services of a law firm to provide a specific scope of legal services for a fixed monthly fee- when a company ‘outsources’ its legal department to a law firm or a particular lawyer.
WHAT BENEFITS OF HIRING A LAW FIRM ON A RETAINER BASIS?
With a monthly legal retainer arrangement, the client has IMMEDIATE ACCESS to a legal counsel or law firm to advise on all your business/legal matters. A fixed legal retainer will enable the client as well as the lawyer TO KNOW WITH CLARITY WHAT THE SCOPE OF WORK is, and how much time will be required for each brief based on a fix number of hours every month. Also with a monthly retainer, your company will be able to use the services of a law firm to cover a wide range of matters for example, drafting of contracts, rendering of legal opinions, negotiating contracts, general advisory over the phone or at meetings, drafting of correspondences and legal audits. The scope of work that will come under the legal retainer can be discussed, negotiated, and narrowed down to best suit the needs of each client. The client WILL ALSO NOT BE VISITED WITH UNEXPECTED LEGAL COSTS as the retainer is fixed and in terms of work priority, the client will be able to work with the lawyer on work goals and deliverables.
Under a legal retainer and once the law firm has understood the dynamics of your business, the law firm will be able to PROVIDE THE CLIENT WITH CONSTANT UPDATES ON NEW LAWS, CHANGES TO CURRENT LAW AND REGULATIONS OR RULES which would impact or affect the client’s business.
Legal retainers are good for building longstanding relationships with clients and its staff/employees. It is always a bonus when your middle management or higher management CAN PICK UP THE PHONE AND GET QUICK AND INFORMED LEGAL ADVICE FROM A LAWYER, RATHER THAN MADE DECISIONS THAT MAY EVENTUALLY RISK THE BUSINESS.
WHAT SERVICES WILL YOU GET ON A LEGAL RETAINER?
Each legal retainer is custom-made for our clients based on their needs, financial capacity, and plans for growth. For new clients considering a legal retainer, we have structured a monthly legal retainer package as follows:
| PLATINUM PACKAGE | GOLD PACKAGE | SILVER PACKAGE | BRONZE PACKAGE |
| RM 12,000 | RM 8,000 | RM 5,000 | RM 3,000 |
| · General legal support · Legal Advice over the phone/email · Face to face meetings twice a week · Average of 10 hours a week · Drafting and responding to legal correspondences limited to litigation or corporate advisory · Documentation review & drafting of basic contracts · Legal advice on HR matters, IP matters · Legal advice on pre-emptive legal measures/risk management · Specialist advisory services · Onsite support (twice a week) · In-house training for employees · Review of all current internal and external agreements · Legal health check of the company and risk management report will be prepared · Contract negotiations | · General legal support · Legal Advice over the phone/email · Face to face meetings once a week · Average of 8 hours a week · Drafting and responding to legal correspondences limited to litigation or corporate advisory · Documentation review & drafting of basic contracts · Legal advice on HR matters, IP matters · Legal advice on pre-emptive legal measures/risk management · Specialist advisory services · Onsite support (once a week) In-house training for employees | · General legal support · Legal Advice over the phone · Average of 5 hours a week · Drafting and responding to legal correspondences limited to litigation or corporate advisory · Documentation review & drafting of basic contracts · Legal advice on HR matters, IP matters Legal advice on pre-emptive legal measures/risk management | · General legal support over the phone/ email · Average of 3 hours a week Drafting and responding to legal correspondences limited to litigation or corporate advisory |
There are long-term benefits of having a single law firm or experienced legal counsel who better understands the inner workings of your company and is invested in seeing your company thrive.
The retainer tiers proposed below are based on the level, type, and amount of work carried out by your designated lawyer on a billable hour-work basis. We are happy to discuss a customized legal retainer in the event the proposed structure herein does not suit your needs.