What a contract lawyer does
A contract lawyer drafts, reviews, and negotiates agreements so the terms protect you and actually hold up if there is a dispute. That includes service agreements, employment and contractor contracts, NDAs, leases, vendor terms, and partnership or operating agreements. Most contract attorneys will tell you upfront whether a deal needs a custom document or a simple template review.
When you actually need a lawyer
- The contract involves significant money, IP, or long-term obligations.
- You are signing something one-sided drafted by the other party.
- You are forming a partnership or bringing on a co-founder or investor.
- A deal has gone wrong and you need to understand your options.
What it costs
Expect $500-$3,000 per contract for drafting a custom agreement, or $250-$500 per hour to review and mark up something you were sent. Simple template-based documents cost less; complex commercial or financing agreements cost more. Ask whether the lawyer offers a flat fee for your document type.
How long it takes
A standard review or draft usually turns around in a few days to two weeks. Negotiated commercial deals take longer because both sides trade revisions.
What to look for
- Business and commercial contracts are a core part of their practice.
- Experience with your industry and deal type.
- Flat-fee options for common documents.
- Plain-English explanations of the risky clauses, not just legalese.
Frequently asked questions
How much does it cost to have a lawyer review a contract?
Usually $250-$500 per hour, and many simple reviews take one to three hours. Some lawyers offer a flat fee for a standard contract review.
Do I really need a lawyer for a contract?
For low-stakes, standard agreements you may not. For anything involving real money, intellectual property, or long-term commitments, a review is cheap insurance against a costly dispute.
What is the difference between drafting and reviewing?
Drafting means creating the contract from scratch ($500-$3,000+ typically). Reviewing means reading and marking up a document someone else wrote (usually billed hourly).
Can I use a template instead?
Templates are fine for very routine, low-risk situations, but they often miss state-specific rules and your particular terms. A short lawyer review of a template is a good middle ground.
What clauses matter most?
Payment terms, termination rights, liability and indemnification, dispute resolution, and IP ownership are where most expensive problems hide.
How long does a contract review take?
Often a few days to a week for a standard agreement; longer for negotiated commercial deals.
Should a partnership have a written agreement?
Yes. A clear operating or partnership agreement that covers ownership, decisions, money, and exits prevents most co-founder disputes.
What if the other side already sent a contract?
Have a lawyer review it before you sign. One-sided contracts are common, and small wording changes can shift significant risk.