Legal Question in Business Law in Virginia

Not enough relevant facts offered to answer. Beginning with clarification as to the nature of this business and by "retainer", do you mean having the lawyer available on a long term basis to advise/represent the company on legal issues or merely to handle a one time task such as advising/assisting with the formation of the business entity?

As a Franchise Attorney I can advise as follows. When you're just starting a business, it doesn't make any sense to put an attorney on retainer. Just pay on a what-you-need basis. Ttry to get a fixed rate instead of an hourly rate for things like setting up the entity (corporation or LLC). Usually, only large, established companies consider putting attorneys on retainer because of substantial, ongoing legal needs. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation