Coupons Not Required: GCs Look for Creative Ways to Save on Legal Costs by Ursula Furi-Perry

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There's certainly a lot of talk about alternative fees. In a February article about tying outside legal costs to value, Altman Weil's Pamela Woldow discussed the various ways alternative fee arrangements are manifesting themselves in law department practice. The most common, she wrote, include procuring work through RFPs or tenders that specify acceptable arrangements; imposing billing hour limits and rewarding firms for crafting alternative fee structures; reducing the total number of outside providers or sticking to a preferred outside counsel list; and opting for value-based fees, which are based on the type of work performed and the value it has to the client, rather than a strict hourly measure.

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Published In: Electronic Discovery Updates, Firm Marketing Updates, Professional Practice Updates, Professional Malpractice 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.

© Pamela Woldow, Edge International | Attorney Advertising

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