Should I tip my attorney?
April 7, 2007 6:14 PM Subscribe
Should I give my lawyer a gratuity for acting as a broker in the sale of my business?
posted by SMELLSLIKEFUN to work & money (17 answers total)
I am the active partner in a small company (less than $10mil sales per yr). I have received an unsolicited offer for our company. In the early stages of the negotiations I discussed trying to find a business broker to negotiate for me. Due to the relatively small size of the deal (to a broker, not to me!) my attorney offered to broker the deal, as well as handle all the legal aspects, all for his regular hourly fees.
Since then he has hinted, twice, that it is not unusual for a gratified client to give their attorney, in cases specifically like this one, a gratuity. He has done an excellent job representing me. He has saved me a lot of money, but he also declined a contract for brokering the deal. A broker would have taken a minimum of$4-600,000.00+ as a commission. I think he may have earned a tip, and it would come from my part of the proceeds of the sale.
So, the question is a two parter...Is it a real practice to tip your attorney? And if so how should I come up with a figure???