Predicting the future has become a critical skill for lawyers—at least when it comes to budgeting for case work. Clients want as much certainty as possible for planning and allocating legal expenses, which inherently carry uncertainty. Consequently, clients routinely ask for fixed-cost alternative fee arrangements (AFAs), requesting law firms help shoulder the ‘‘uncertainty’’ burden.
Originally published in Bloomberg BNA's Corporate Accountability Report - October 24, 2017.
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