Are you thinking of starting a legal document preparation business?
You’re on to something! In 2021, KPMG made a few predictions regarding the legal industry’s future. These predictions discuss how client experience and contract creation will be a significant part of the legal industry.
Legal document preparation services might be an excellent option if you’re looking to break into the legal industry.
But how do you get started with a legal documentation business? This guide will help you get started.
Here’s what you have to do:
Licensing
Your first step is to hire a lawyer to check the local laws in your jurisdiction. Depending on where you live, you might need special licensing or permits to start a legal documentation business.
You must be a lawyer to prepare legal documents. Some entrepreneurs will create sample contracts without having any legal standing.
However, these entrepreneurs must always include a disclaimer that they aren’t qualified lawyers.
Your clients don’t want this hassle. They want to use legal documents as-is. Make sure you hire lawyers to prepare the legal documents.
What Type of Document Prep Do You Offer?
Next, you must decide what legal documents you wish to create. Again, you’ll need to hire lawyers with extensive experience preparing such documents.
Here are some examples of legal documents:
- Disclaimers
- Terms and Conditions
- Licensing Agreements
- General Contracts
- Publishing Rights
- Employment Contracts
- Rental Agreements
- Titles and Deeds
- Warranties
- Non-Disclosure Agreements
- Articles of Incorporation
- Business Constitutions
These are just a few of many examples. Take your time to decide which types of legal documents you’re most interested in.
Make sure you also research what’s most in demand in your area.
Starting a Legal Document Preparation Services Business
Your first step is to register your business. In most cases, an LLC or S-Corp is a great legal structure for a small business.
Always hire a lawyer to advise you on your business structure. They’ll also help you register your company.
Make sure you buy a domain name for your business. Build a simple website to advertise your services.
Sign up for several payment authorization services. You want your clients to have multiple options to pay you.
This is also the time to buy materials such as exhibit tabs from LegalSupply.
Make sure you also have enough paper to print legal documents. You’ll also need to invest in external and cloud storage to share documents digitally.
Once you’ve started your business, reach out to your network to find your first customers!
Begin Your Journey
Now you know how to start a legal document preparation services business and succeed.
Start by inquiring about the necessary licensing and permits. You’ll always need lawyers to prepare legal documents for your clients.
Your next step is to research the different types of legal documents. Decide which ones you wish to offer your clients.
Make sure you research the most profitable and in-demand options. The final step is to register your business and then start promoting it!
Are you ready to start your legal document business? Keep reading our blog for tips and advice on how to grow it.
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