QUESTION

How many hours should it take to prepare a partnership agreement between two existing companies in FL?

Asked on Jun 29th, 2012 on Business Law - Florida
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Should the bill be split between the lawyer''s hourly rate and the paralegal''s? What range should we expect the total cost to fall under?
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1 ANSWER

Litigation Attorney serving Greenwich, CT
Partner at Hilary B. Miller
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The answer is "it depends." Among other things, a partnership agreement can be very simple or contain very detailed descriptions of the duties of the partners, their respective rights and how the results of their efforts will be governed, divided and paid out. A simple agreement might take one to two hours, including the time spent discussing it with the client and opposing counsel. If negotiations become extensive and there is pushback from the other side, the number of hours involved could grow. Very little paralegal time will generally be involved. Having such an agreement prepared could cost one side $1,000 to $3,000, or more, depending on complexity.
Answered on Jun 29th, 2012 at 12:45 PM

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