When bringing on the services of an entertainment lawyer, how does paying them work? Flat rate? Hourly?

1 Answers

1. 0 Votes 0 Votes  0 Votes

   Attorneys work on many different models. One way is an hourly rate structure—meaning, you pay for all work done based on the amount of time the attorney spends multiplied by their hourly rate. Typically, attorneys will require a deposit (called a “retainer”) when they charge on an hourly rate. A second way attorneys charge is by flat rate—meaning, there is a fixed price for the services performed. For example, an attorney might have a one-time set fee for drafting an agreement between an artist and producer. Attorneys typically only charge flat rates when there can be some reasonable estimate of how long the project will take. A third way of billing is the percentage method. This is when an attorney takes a percent (e.g. 5%, 10%, etc.) of all revenue an artist earns. Typically, the percent is taken “from the top,” meaning from gross income (all money the artist brings in, before other deductions). There are also hybrid billing arrangements, which combine the above models. For example, an attorney might charge a flat rate for drafting a contract, and then hourly for negotiations. Alternatively, an attorney may charge a percentage of revenue for work done regarding an artist’s recording industry deals, but charge hourly or flat rates for other work done for the artist (such as for filing trademarks or defending copyright litigation).

   Brandon Anand (Entertainment Attorney – Anand Law) - Mar 28, 2020 | Log in to Reply