Alternative Fee Arrangements: Risk Sharing Requires A Strong Partnership

more+
less-

The economic recession has brought renewed pressure on law firms to adapt to the concept of alternative fee arrangements. Simply put, corporate counsel are balking at increasing hourly rates in the face of significant internal pressure to slash their budgets.1 While alternative fees have been used for decades in many areas of large firm practice, corporate counsel are increasingly looking for firms to offer innovative ways to structure fees that reflect a firm-client partnership with respect to risk sharing.2 Those firms embracing the demand for innovation are poised to establish new and lasting "partnerships" as the business model for operating law firms continues to evolve.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Business Organization Updates, Civil Procedure Updates, Professional Practice Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Dinsmore & Shohl LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »