legal bill audit - dealiqinc.com
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Contact our team today to learn more about how Legal Bill Audit services can assist your organization’s due diligence practices. Call us at 1 (877) 272-8240 or visit us online at www.dealiqinc.com
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LEGAL BILL AUDIT S E R V I C E S
Who’s it for?Clients who have recently retained the services of an external law firm, often for the completion of an M&A or significant legal undertaking.
When would I need this service?Upon completion of all work and receipt of the legal bill.
Why?Expert legal services are valuable and well worth the spend. But the receipt of an extensive legal bill for services rendered over months or years can be daunting. In order to conduct due diligence, thorough analysis of the bill is necessary to ensure billing accuracy.
How does it work?Deal IQ begins by gaining an in-depth understanding of the legal services in question, and the key players involved in the matter. Relying on expert knowledge, the bill is analyzed in detail, and questionable items are earmarked and vetted by the client. Once errors have been identified, Deal IQ communicates with the external law firm on the client’s behalf to correct the bill. Deal IQ conducts the audit free of charge and receives a fee based on the percentage of savings.
What’s the strategy?Having worked closely with the external law firm in question, and in many cases secured a positive result via their services, most clients feel uncomfortable being the point of contact to negotiate overages upon receipt of the bill. Deal IQ conducts this conversation on behalf of the client to avoid hard feelings and conflicts of interest.
The Deal IQ team includes a partner lawyer with in-depth knowledge of both contingency and retainer agreements, as well as junior legal staff who are familiar with the billing process. Deal IQ raises concerns to the law firm, and communicates the key issues that will need to be satisfied in order for the client to pay the bill.
How long does it take?Depending on the length of the negotiation process following the audit, Deal IQ’s Legal Bill Audit process can take anywhere from 2 to 6 weeks.