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Corporate Retainer Service is an arrangement established between our law office and your company or business that allows access to a team of attorneys/lawyers specializing in various legal fields for a set monthly fee. It is a service that promotes prevention.
MGC Legal provides constant corporate retainer services to its corporate clients in Turkey, including but not limited to corporate maintenance, corporate governance, contract drafting, review and negotiation, daily advice, governmental relations, operational support, and administrative investigations. MGC Legal team stands to be a business solution partner to its clients.
What is The Legal Corporate Retainer Service?
The Legal Corporate Retainer Service (LCRS) is the best option for businesses or companies that frequently want legal advice and consultancy service but lack an internal legal department or are worried that legal fees might quickly get out of hand.
The whole spectrum of legal services that a company or a business is likely to need, from Labor Law and commercial guidance to Intellectual Property Law (brand protection) and corporate governance, are all included in the legal corporate retainer service. Everything for a set monthly or quarterly fee.
What Exactly is a Corporate Retainer Contract?
An ongoing contract between a company or a business and a service provider, such as an advertising, public relations, or marketing firm, is known as a retainer agreement. In our case, a law firm. The retainer outlines the conditions of the parties’ connection, such as the project’s parameters, the agreement’s duration, and the payment schedule.
Typically, retainers are long-term contracts ranging from six months to many years. The client is usually billed in advance by the agency/firm for monthly or quarterly services.
What’s The Process For Corporate Retainer Agreements?
There isn’t one set formula for how retainer agreements operate. But every corporate retainer agreement follows the same fundamental format. One party, such as a contractor, consents to give the client a specified number of hours each month.
The client gives the contractor an upfront payment known as the “retainer fee” in exchange for locking in those hours. The retainer money will be deducted from the contractor’s final payment once the job is done, and any additional hours will be charged at the contracted rate.
What Do Corporate Retainer Fees Mean?
An advance payment made by a client for the expert services of a consultant, attorney/lawyer, freelancer, etc., is known as a retainer fee. The cost is frequently connected to attorneys/lawyers who are retained to perform legal services. Although it typically covers all costs for the whole procedure, this charge ensures the service provider’s adherence.
A retainer fee does not guarantee a favorable outcome, though. The fee is occasionally put in a separate account from the recipient’s account once the payer and receiver have settled on the job to be done to prevent the cash from being utilized for other objectives.
What is The Purpose of Corporate Retainer Agreements?
The corporate retainer agreement’s goal is to clearly define each party’s responsibilities, so everyone can agree on the operations that will be rendered and when, how, and at what price. Lawyers/attorneys and independent contractors are frequently employed under corporate retainer agreements.
The retainer payment guarantees that the contracted service provider will set aside time for the client in the future if required. A corporate retainer agreement is a long-term work-for-hire contract that allows for the retention of continuous services instead of a one-time contract.
What Are The Benefits of Corporate Retainer Agreements?
Corporate retainer agreements are growing in popularity with the need for more financial security and a desire to strengthen client connections. Given corporate retainer agreements’ advantages to the company or a business over one-off, fixed-price contracts, this pricing model is also a smart choice for legal consultants.
Consulting firms and law firms and their clients both benefit from working on corporate retainer agreements. Instead of spending an unknown amount of time seeking new clients who can pay a single month, being paid constantly allows firms to concentrate on the demands and problems of clients and produce high-quality work. Corporate retainer agreements often streamline work processes and productivity gains for both parties.
MGC Legal’s Corporate Retainer Services in Turkey
MGC Legal offers profound corporate retainer services in Turkey. This service includes:
● Providing legal counsel for any paperwork the client requests while examining, assessing, and validating the validity of any documents they have created or implemented for their company’s operations. Also, if required, assisting the client in preparing all necessary paperwork for contract talks or meetings and assisting the client with writing legal documents pertaining to transactions the client has with any third party.
● Answering questions, providing legal consultancy and advice and solutions for each unique case in a variety of practice areas, including investment, construction, real estate, bidding, intellectual property claims, business administration, banking, security, insurance, commerce, contracts, accounting, tax, labor & employment, and sales, as well as other areas about the client’s company or business operation. Also, discussing with the client any business-related talks, negotiations, parleys, claims, disputes, or legal actions with any third party or any capable state agency.
● Discussing broad options with the client for each unique claim, disagreement, or legal action. Also, assistance and consultation with the client during the creation of the charter, internal working norms, and rules governing enterprise organization, management, and administration, as well as other key papers for the client’s company or business operations.