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Professional services is an industry of infrequent, technical, or unique functions performed by independent contractors or by consultants whose occupation is the rendering of such services.

Examples of professional services include those of: accountants, actuaries, appraisers, architects, attorneys, business consultants, business development managers, copywriters, engineers, funeral directors, law firms, public relations professionals, recruiters, researchers, real estate brokers and translators. While not limited to licentiates (individuals holding professional licenses), the services are considered "professional" and the contract may run to partnerships, firms, or corporations as well as to individuals.

Marketing

The selection of an independent contractor or consultant providing professional services usually depends on skill, knowledge, reputation, ethics, and creativity. Prices for services, even within the same field, vary greatly. Some professional-service providers are able to give fixed rates for projects, while others define the price only after assessing the work involved. For this reason, it is common to hire professionals on the basis of an hourly fee and of an estimated length of project (scope).

In the past, independent contractors for professional services were located and hired by various means, including recommendation and directories (e.g. yellow pages). The popularity of the Internet has led to a new crop of professional-services sites that allow independent contractors to offer their services to a larger audience, while allowing individuals or companies to find professionals quickly and easily.

Professional-services employees

The term "professional services" is also used frequently by corporations such as banks and retailers that offer infrequent or ongoing services for their customers.

See also

• Big Four auditors

References

• Indicators of regulatory conditions in the professional services (Organisation for Economic Co-operation and Development)
• Better Regulation of Professional Services (European Union)

• Consulting
• Business