Legal Business Glossary

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Retainer

Advance payment to an attorney for services to be performed, intended to ensure that the lawyer will represent the client and that the lawyer will be paid at least that amount.

Software as a Service (SaaS)

A software delivery model in which the software is developed by a third-party vendor and its associated data are hosted on the cloud, where users access through a portal such as a web browser.

Split Billing

Division of a bill for service into two or more parts. Bills may be split to divide work between clients, and payers, or for reimbursement to different service providers for performing a shared service.

SSO (Single Sign-On)

Enables a user to use one set of login credentials to access multiple applications, providing a better user experience by reducing the number of required accounts and passwords while increasing overall security.

Timekeeper (TK)

Person within the legal department, such as an attorney, paralegal, associate, or admin, who calculates how much time is spent working on a matter or project in order to accurately bill the client.

Timekeeping

Recording the time and tasks performed on specific cases.

Trust Account

A special bank account that a lawyer or law firm must maintain in order to receive and hold money on behalf of their clients or third parties.

Trust Accounting

Maintaining client funds that are held in trust.