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How long does it take to launch a virtual paralegal business?

Cordina Charvis — Sat, 12 May 2012 01:12:37 GMT

The time it takes to launch a virtual paralegal business depends on several factors.

Are you currently unemployed?

If you are currently unemployed you may have more time to research and launch your virtual paralegal business. It is possible to have your business up and running in less than 3-6 months.

If you are currently employed?

If you are currently employed it may take you a bit longer than 3-6 months to transition from the office to virtual; depending on how far you are with your planning and finances. It will also depend on whether or not you will be launching your business part time or full time.

How much research have you done so far?

You should research your practice areas to make sure that there is a demand for the services that you intend to offer and the software and equipment commonly used for your practice areas.

Are you financially ready?

You should make sure that you are financially stable before starting your virtual paralegal business. If you are going to start your business full time make sure that you have enough income saved to pay your bills while you grow your business. Also, consider other benefits such as medical, dental and retirement insurance that are offered through an employer that you will be responsible for as a business owner.

Most importantly, make sure you are launching your business for the right reason.

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What does it really takes to operate a virtual paralegal business?

Cordina Charvis — Fri, 04 May 2012 15:01:42 GMT

Confidence in your abilities. Remember your target clients are attorneys. They can spot nervousness and incompetence a mile away.
Determination. You have to be ready to hang in there for the long haul. Even though you may be confident in your skills as a paralegal it will take more than your paralegal skills to market and operate a business.
As a virtual paralegal, you are a business owner and you will be responsible for everything that goes along with operating a business such as tax issues, incorporation, and record keeping among other things.
Most virtual paralegals work from their home offices. Working from a home office can be very lonely at times.
Most importantly, you are responsible for keeping up with the changes in the law for your practice areas.

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Questions to ask and answer before launching your virtual paralegal business

Cordina Charvis — Mon, 30 Apr 2012 17:34:59 GMT

Truthful responses to all the questions below will let you know whether or not you are willing to put in the dedicated hours, effort and hard work needed to launch and operate a virtual paralegal business.

Are you capable of working with little or no supervision?

There is little or no on the job training for virtual paralegals. Virtual paralegals are senior paralegals and are experts in their practice areas.

Are you capable of working with deadline sensitive projects

Depending on your work load you may have back to back deadlines for the same or different clients.

Your clients are not going to care that you have other clients; they only care about the projects they assigned to you.

Are you comfortable working with different level of management?

When your client hires your company they may expect you to assist other members of their firm; which may include the CEO, CFO, managers and other attorneys.

You have to be comfortable working with different personalities and different level of management and depending on your practice areas; you may have to work with government agencies such as the Securities and Exchange Commission.

Is there a demand in the market for your practice areas?

Before you start your virtual paralegal business you should research that there is a need for your services in the current market. Right now, corporate, family law, bankruptcy and litigation are among the highest demand for virtual paralegal services.

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Step I - Transitioning from an in-office paralegal to a virtual paralegal

Cordina Charvis — Sat, 21 Apr 2012 14:12:57 GMT

If you are currently employed, it is highly recommended that you launch your virtual paralegal business on a part time basis while earning a regular income.

Plan your transition from employee to employer and from an in office paralegal to a virtual paralegal.

Here are some steps to consider during your transition:

Step 1

If you are currently employed make sure the planning of your business does not interfere with your current job.
Do not quit your job abruptly. You can work on your business on your own time while you remain in your full time job.
Never burn your bridges. Leave your job on good terms. You will need their references and they may refer work to your new business.
Do not use your current company’s email to correspond with prospective clients. Most companies retain their emails for years even after you have deleted it locally.
Your current boss and co-workers should not know about your business before you put in your resignation. If your company decides to downsize you maybe the first to get let go before you are ready to leave your job.
When you decide to resign your current position, give your boss enough time to find a replacement and continue to provide an honest days work.
Do not take or use any of your company’s confidential information in your current business. Your current employer can sue you for confidentiality violation.

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Step 2 - Transitioning from an in-office paralegal to a virtual paralegal

Cordina Charvis — Sat, 21 Apr 2012 14:08:25 GMT

Step 2

Before you quit your day job ask your boss to review all the contracts and policies you signed as an employee to avoid conflict of interest in your virtual paralegal business.
In general, most transition may take up to six months from employee to entrepreneur.
Do not rush yourself. If after six months you think you still need more time, take the time to prepare yourself properly.
Determine how much money you will need to maintain your personal bills and start saving right away.
Determine your practice areas and make sure you have extensive experience in them.
Research your practice areas to make sure there is a demand for your services.
Ask other virtual paralegals how they got started and how they would do things differently.

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Step 3 - Transitioning from an in-office paralegal to a virtual paralegal

Cordina Charvis — Sat, 21 Apr 2012 14:00:55 GMT

Step 3

Determine what will set you apart from your competitors?
Do test runs on starting your virtual business by offering your services for free to charities? Make sure to put in as much work as you would have for a paying client.
You should consider applying to virtual law firms or offices. They already understand the virtual world and it would be easier to convince them to hire a virtual paralegal.
Consider working with an experienced virtual paralegal before branching out on your own.
Partner with another virtual paralegal to reduce the pressure and expenses of starting your business.
You should apply for contract or temporary positions for added experience and money to help with your transition from the in- office to your business.
If you have the time or the money; enroll in business and administrative classes. You will need these skills to help you operate your business.
Volunteer for seminars, conferences and workshops in your practice areas.

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Step 4 - Transitioning from an in-office paralegal to a virtual paralegal

Cordina Charvis — Sat, 21 Apr 2012 13:54:15 GMT

Steps 4

Before you leave your current job or if you are currently unemployed start gathering your references and recommendations. If you are an experienced virtual paralegal start gathering your testimonials.

Ask your current boss and co-workers for written references before you resign.
Ask your current boss and co-workers permission to use them as professional references should a potential client want to verify your past employment and experiences.
On your last day of employment leave your business cards with all the attorneys, paralegals and secretaries you have worked with and ask them to refer you to their friends, family and colleagues.
If you are a new virtual paralegal ask your previous managers and supervisors for written references.
Ask your professors and teachers for recommendations.
You may also get recommendations and references from your pastor/priest, colleagues and supervisors from internships and pro bono work.
If you are a member of any paralegal or business associations ask the members including board members and officers for recommendations.
If you are an experienced virtual paralegal ask your clients for their feedback.
Improve on the negative and use the positive in your marketing materials and on your website.
Ask your clients to write you a testimonial to use on your website

Next

Finally, mentally, start thinking and acting like a boss.
Start setting up your virtual paralegal office.

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How do you keep track of the changes in your practice areas?

Cordina Charvis — Wed, 18 Apr 2012 00:32:26 GMT

3 Ways to help you to keep track of the changes in your practice areas

First, you may start by creating Google alerts using your practice areas; for example, corporate virtual paralegals may create alerts using the following paralegal terms:
- Corporate paralegals
- Paralegals in the news
- Corporate law, cases and statues
Next, you should subscribe to legal newsletters, magazines and journals

o There are several magazines and news forums online geared towards specific practice areas that offer free subscriptions such as: the Bankruptcy newsletter offered by West Law and Lexis Nexis.

o The ABA Journal also provides sections geared towards several practice areas such as Litigation.

Third, join and actively participate in legal organizations such as the ABA for Paralegals.

o Joining legal organizations is another way for you to keep track of legal news, laws, cases, and statues in your practice areas and the legal industry on a whole.

o However, before you commit to an organization you may start by following their social media pages on twitter, face book, LinkedIn and Google+ to make sure they are the right organization that will provide the resources you need to reach your goals.

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Should you post your virtual paralegal fees on your website?

Cordina Charvis — Wed, 18 Apr 2012 00:31:04 GMT

Posting your virtual paralegal fees on your website may depend on several factors including but not limited to the following:

1) Your practice areas;

2) The type of services that you offer; and

3) Your fee structure.

If your practice area is in Bankruptcy and you offer flat fees for drafting petitions; I think it would make sense to post your fees on your website. However, if you provide services in a practice area with several filing requirements; you may post a range in fees and ask that interested parties call or email you for a consultation.

It is a no brainer that if you offer free consultations you will likely received more calls than paid consultations.

Evolution Parajuristes (“EP”) is a corporate paralegal firm providing services in corporate and compliance law. To learn more about EP you may visit their website at http://www.evolutionparajuristes.com

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Choosing your virtual paralegal business structure

Cordina Charvis — Wed, 18 Apr 2012 00:29:28 GMT

How do you determine which business structure is best for your virtual paralegal business?

Experts believe that if your company makes under $100,000 you may consider a sole proprietorship, under $200,000 you may consider a C corporation and more than $200,000 you should consider an S Corporation or a limited liability company.

If you are looking for asset protection, you may consider incorporating as a corporation or limited liability company; however, it is very important that your company maintain existing and ongoing filing requirements that may include but are not limited to the following; as well as separating your personal expenses from your business expenses.

Annual report
Employer ID Number (FEIN)
Corporate seal
S-Corp election
Amendment
Stock certificates
Corporate minutes and bylaws
LLC operating agreement
Foreign qualification
Certified copies of documents
Reinstatement
Certificate of good standing
Dissolution

SBIS provides small and home-based businesses with the tools they will need to help them build their businesses. Visit their website at http://SBIS-Smallbiz.com to view their incorporation and corporate maintenance services.

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Who are virtual paralegal clients?

Cordina Charvis — Sat, 20 Aug 2011 14:38:21 GMT

Virtual Paralegal clients are primarily solo practitioners, small law firms and legal departments employ the services of virtual paralegals.

If you are a virtual paralegal who markets your services to consumers or small businesses that do not have a legal department you must be careful to avoid unauthorized practice of law.

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Communication is very important in the virtual paralegal business

Cordina Charvis — Sat, 20 Aug 2011 14:36:18 GMT

Communication is very important in the virtual paralegal business. There are several ways that virtual paralegal and assistants communicate with their clients. The most common means of communication include but are not limited to: telephone, email, fax and web conferencing.

Most virtual paralegals work from their home offices and by using a notebook computer with a secure Internet connection; they can complete their assignments anywhere.

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Virtual paralegals assignments

Cordina Charvis — Sat, 20 Aug 2011 14:36:57 GMT

The types of assignments that are delegated to virtual paralegals depend on their practice areas. An attorney may ask a corporate paralegal to draft an article of incorporation, by-laws and organize company records whereas; a bankruptcy attorney may ask the paralegal to draft petitions.

In most cases, virtual paralegals may review and organize client files, conduct legal research, prepare documents for legal transactions, draft pleadings and discovery notices, interview clients and witnesses, and assist at closings and trials.

Perks of operating a virtual paralegal business: you get to choose the type of assignments that interests you.

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There is a growing market for virtual paralegals and assistants

Cordina Charvis — Sat, 20 Aug 2011 14:35:14 GMT

With the advancement in technology; there has been a steady increase in virtual law firms in the past year hence there have been an increase in the need for virtual paralegals.

Small law firms and solo practices are using virtual paralegals and assistants to help them reduce and control their overhead cost.

In-house legal departments are putting pressure on law firms to reduce their legal fees. More law firms and corporations are outsourcing paralegal and secretarial functions to reduce their clients’ fees. Virtual paralegals and assistants are now in demand.

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Virtual paralegal business and UPL

Cordina Charvis — Sat, 20 Aug 2011 14:34:01 GMT

In most states it is against the law for paralegals to offer any legal advice.

The main legal restriction for operating a virtual paralegal business is that virtual paralegals must work exclusively under the supervision of attorneys.

All final work products completed by virtual paralegals must be reviewed by the attorney before it is filed with any government agencies or forwarded to the client.

Virtual paralegals must always represent themselves as the paralegal and never an attorney. They should also represent themselves as the paralegal in their advertising and marketing campaigns including their websites and on their business cards.

When a virtual paralegal sign any legal document or correspondence they should always include their title as “Paralegal” next to their signature.

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In most states, virtual paralegals are not required to hold a license

Cordina Charvis — Sun, 14 Aug 2011 00:11:31 GMT

In most states, virtual paralegals are not required to hold a license in order to perform their duties as paralegals. But they may be required to hold a license if they decide to operate a business.

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Virtual paralegals and assistants must have effective interpersonal skills

Cordina Charvis — Sun, 14 Aug 2011 00:10:38 GMT

All virtual paralegals and assistants must be able to work accurately and effectively in a highly confidential, detail and result-oriented environment.

All virtual paralegals and assistants must have effective interpersonal, customer service and communication skills to interact effectively with all levels of management and regulators.

Virtual paralegals and assistants are self-motivated and are capable of working both independently as well as in a team.

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What are the skills and education required of virtual paralegals?

Cordina Charvis — Sun, 14 Aug 2011 00:09:56 GMT

The skills and education required of virtual paralegals are the same as paralegals who works in an office.

Every virtual paralegal and assistants must be comfortable with technology, have the ability to do thorough research and are detail orientated.

Some virtual paralegals obtain four or two year degrees, others obtain certificates. Some virtual paralegals have been promoted to their positions and receive their paralegal training on the job.

Three or more years experiences is recommended for virtual paralegals

Cordina Charvis — Sun, 14 Aug 2011 00:09:18 GMT

It is highly recommended that virtual paralegals have at least three or more years experience working as a paralegal before launching a business; there is little or no on the job training for virtual paralegals.

When an attorney hires a virtual paralegal or assistant they expect that they will be an expert in the services that they offer.

Though it is not required, most virtual paralegal specialize in one or more practice areas.

Your resume should include your previous employments including but not limited to internships and pro bono work.

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Virtual paralegals are hired by attorneys and small business owners

Cordina Charvis — Sun, 14 Aug 2011 00:08:37 GMT

Virtual Paralegal” are otherwise known as independent, contract or freelance legal assistants who are hired by attorneys, law firms or in-house legal departments to provide paralegal support services on an as needed basis through such services being supplied with the use of technology such as the Internet, email, fax and remote access systems.

Virtual paralegals are hired by attorneys who primarily complete their assignments outside of the law office such as their home.

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