A combination of hourly and contingency fee contract may be the way to take your case the extra miles it needs for a great result in a business case.
This is a Southern California version of my earlier article published in Northern California.
More businesses are asking lawyers to prosecute cases on a contingency or reduced rate. A straight contingency fee agreement is not well suited for business litigation. A reasonable alternative is a “hybrid” fee agreement wherein the attorney is paid a reduced hourly rate, along with a contingency fee. However, drafting such a “hybrid” fee agreement can be more difficult than counsel might think. A mutually beneficial agreement can be reached if counsel pays close attention to the applicable Rules of Professional Conduct concerning charging liens and contingency fees. In addition, because many business cases potentially involve the award of attorney fees, how those awards will be handled are of critical importance.
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