Legal tech glossary
Terms every small-firm lawyer should know.
Plain-language definitions for billing, trust, intake, and practice management concepts.
Retainer agreement
A retainer agreement is a contract between a lawyer and client that sets out the scope of legal services, fee structure, billing terms, and each party's responsibilities before work begins.
Trust account
A trust account is a separate bank account where a law firm holds client funds — retainers, settlements, and other monies belonging to clients — distinct from the firm's operating account.
IOLTA
IOLTA (Interest on Lawyers' Trust Accounts) is a program requiring lawyers to deposit short-term or nominal client funds into pooled trust accounts, with interest directed to civil legal aid rather than the firm or client.
Engagement letter
An engagement letter is a written document confirming that a lawyer has been hired, outlining the scope of representation, fee arrangement, billing practices, and terms for ending the relationship.
Open your practice
Your inquiry link could be live tonight.
Start a 14-day trial, copy your public form, and watch your first lead land in the pipeline.