Many would agree with Stanislav Roth’s view that conventional law firms are failing to adapt their ‘modus operandi’ in response to the unique needs of start-ups and SMEs.
Many start-up entrepreneurs and small business owners, he says, believe legal services are too expensive, complex and slow to engage from an early stage. These businesses are fast-moving, ever-changing and (rightly so) quite protective of their limited start-up capital or early revenue.
Access to legal support and advice has therefore long been reserved for the few small businesses that can afford to retain law firms, many of whom still use hourly billing models at prohibitively expensive rates.
Who said lawyers have to be so expensive?
Source Legal Online, a new service designed to address this exact problem, was launched in April by Source Legal, a boutique Sydney-based law firm founded by Stanislav in 2011.
“We felt that conventional legal services were ripe for a bit of disruption,” he says.
Stanislav and his team have created a cost-effective monthly subscription service entitling members to unlimited legal support per month in the ordinary course of business.
To celebrate its launch, they have priced this service at just $400 per month (plus GST) when you subscribe for three months or more.
Everyday needs like drafting, reviewing and negotiating all contracts as well as advice on compliance, employment and dispute resolution are all included in the “ordinary course of business” and therefore the unlimited subscription.
Unlike template-based services, this membership provides actual access (including 24/7 phone support) to qualified and experienced lawyers based in Australia.
“We wanted start-ups and SMEs to know that we’re serious about supporting them and needed to make our product accessible,” Stanislav (pictured above) remarked.
“We believe business owners will appreciate that $400 per month is a truly unbelievable price – it’s what most traditional law firms would charge for an hour. What makes it even more attractive is that the service is provided by experienced Australian lawyers.”
How will Source Legal Online benefit your business?
For subscribers, this isn’t just about meeting legal obligations and complying, says Stanislav. He pointed out that there are enormous benefits for small business owners to reap from investing in qualified legal services.
“Being taken seriously by the market can make or break the business. Earning the trust of the market partly depends on having, and being seen to have, your legal fundamentals in order,” Stanislav highlighted.
He argues that key stakeholders, including; investors, clients, employees, suppliers, creditors, debtors and regulators; all respond better to start-ups and small businesses that appear to know (and do know) what they’re doing.
Trust and respect mean that these stakeholders are more likely to meet their obligations to the business and spend more time thinking about how to grow it.
“Let’s not forget that start-ups in particular are often attempting to disrupt businesses whose legal resources far outweigh their own – it’s not a level playing field.”
“Whether they want to deal with the incumbents, or win contracts when bidding against them, constant access to professional legal support and documents gives challenger brands a fighting chance.”
