News & Analysis as of

Alternative Fee Arrangements

The Art of Projecting Budgets for Litigation Alternative Fee Arrangements

by WilmerHale on

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...more

How to Get Happy Clients, Effective Employees, & Lower Costs With These 8 Legal Project Management Tips

by Exterro, Inc. on

All lawyers are looking to increase revenue, but these days, with more and more clients leveraging technology and bringing tasks in-house, law firms need to break from the status quo in order to stay competitive. This is...more

Focusing Too Much On Fees Isn’t Healthy Either

by Ary Rosenbaum on

I remember as a kid that there was a move to use margarine because of the cholesterol that was in butter. Who can forget those talking Parkay carton commercials? Of course, we later learn that many margarines had high amounts...more

Implied False Certification Theory Fails in FCA Case Against Billing Agent

A court in the Southern District of New York (“SDNY” or the “Court”) recently released an important decision applying the Supreme Court’s landmark Escobar ruling to a qui tam action involving percentage fee arrangements for...more

5 Questions To Ask Before Entering Joint-Representation AFA

by WilmerHale on

One growing trend is for clients to enter into alternative fee arrangements in which one law firm represents multiple parties who “share” fees and costs in a related matter. For example, a law firm might represent...more

What a Difference a Decade Makes…

by LawVision Group LLC on

It’s hard to believe the inflection point that marked the beginning of so much change in the legal world occurred ten years ago today on August 9, 2007. That was the day BNP Paribas closed withdrawals from three funds citing...more

The Death of the Billable Hour: Is Microsoft Ushering in a New Era for Law Firms?

by Exterro, Inc. on

We’ve been hearing it now for a while – that clients are demanding law firms offer more for a lower cost, and one of the tips for reaching this goal is alternative fee agreements, but most people felt this would be a gradual...more

5 Questions All AFAs Should Answer Clearly

by WilmerHale on

There are numerous ways in which the terms of an alternative fee arrangement are documented, ranging from a simple email exchange between client and outside lawyer to lengthy addenda to the retention agreement. While no...more

5 Questions Firm Should Ask Before Approving Litigation AFA

by WilmerHale on

Alternative fee arrangements provide great opportunities for law firms to partner with clients and strengthen relationships. However, not every matter may be appropriate for an alternative fee or in the law firm’s best...more

Alternative Fee Arrangements When the Insurer Is Footing the Bill

Clients regularly ask their counsel to propose alternative fee arrangements and they are growing in popularity. While these arrangements can be beneficial for clients, they should be carefully considered when an insurance...more

5 Questions To Ask Yourself Before Submitting A Litigation AFA

by WilmerHale on

In this third article in our series about alternative fee arrangement proposals, we discuss five questions that outside lawyers should be able to answer for themselves before submitting an AFA proposal for a litigation matter...more

Law Firms and the Billable Hour – The Debate Continues: eDiscovery Trends

by CloudNine on

Over four years ago, I asked the question of whether it’s time to ditch the per hour model for document review. Back then, I referenced an overbilling situation discussed in an article by a law firm that was recently in the...more

5 Questions To Ask Firm Before Accepting A Litigation AFA

by WilmerHale on

In-house attorneys routinely receive, review and compare alternative fee arrangement proposals and nearly all law firms regularly submit them, but the parties often do not follow a disciplined approach in developing a...more

5 Questions To Ask Client Before Proposing A Litigation AFA

by WilmerHale on

An alternative fee arrangement is frequently required as part of a law firm’s response to a client’s request for proposals to handle new litigation matters. In-house attorneys routinely receive, review and compare such...more

Is Disruptive Innovation in Law Even Possible?

by LawVision Group LLC on

The debates about innovation at law firms can sometimes seem a cacophonous, and discordant, confusion of themes. On the one hand, virtually every day brings some new announcement about the latest “innovation” in the business...more

As Class Action Spending Continues to Climb, Companies Manage Greater Risks

by Carlton Fields on

Class action spending by companies across industries increased for the second consecutive year, reversing a downward trend that occurred between 2011 and 2014. While the percentage of companies managing at least one active...more

The 2017 Carlton Fields Class Action Survey

by Carlton Fields on

The 2017 Carlton Fields Class Action Survey has just been released, and the findings reveal some unexpected trends in class action litigation, based on insights provided by 387 general counsels and chief legal officers at...more

When We Consult on AFAs, These 3 Issues Are Raised

by Valorem Law Group LLC on

As part of our new foray into consulting, Pat Lamb and I have had the chance to help guide several small and mid-sized law firms interested in moving towards alternative fee arrangements but unsure where to begin. Having...more

Using Alternative Fee Arrangements to Redefine Your Bottom Line

by Robins Kaplan LLP on

In 1958, the American Bar Association (ABA) published a pamphlet recommending that attorneys track and keep detailed records of their time. For better or for worse, legal work has since been measured by the “billable...more

Arrangements: Creating and Renewing Client Relationships and Rates

by Prosperoware on

Clients have changed. Outside counsel spending under alternate fee arrangements (AFAs) jumped to 35.6% of total spending in 2015, up from 21.7% in 2013, citing improved client focus, predictability in budgets, a more...more

Legal Project Management, The Greatest Thing Since Sliced Bread?

by Stinson Leonard Street on

We have all heard the expression the "greatest thing since sliced bread." It is believed that this phrase was first used by Wonder Bread® in 1930 to hype its new product of pre-wrapped, pre-sliced bread. We use it now in...more

2016 Law Firm Benchmarking Report: Staying Competitive in Today’s Crowded Legal Market

by Exterro, Inc. on

The writing is on the boardroom wall, but the question is, will firms choose to take action and do something about it? 79% of those surveyed in Exterro’s 2016 Law Firm Benchmarking Report stated that client expectations have...more

Provider-Based Rule and Stark—Is Joint Compliance Impossible in 2017?

by Morgan Lewis on

The Centers for Medicare & Medicaid Services (CMS) will be putting hospitals in an untenable position if recent proposed rulemaking is implemented as is. In its proposal for acting on legislation reducing payments to new,...more

Value Insights: Delivering Value in Labor and Employment Law survey

Proskauer's Labor and Employment Law Department released its Value Insights: Delivering Value in Labor and Employment Law survey, a resource that illuminates current practices and future trends in managing labor and...more

AFAs Are Finally Catching On, But So Much More is Possible

by Valorem Law Group LLC on

Michael Rynowecer of BTI Consulting had a great, must-read post today on his Mad Clientist blog. In the post, which I strongly recommend, Michael makes these points: I get a picture of Samuel L. Jackson staring out from the...more

41 Results
|
View per page
Page: of 2
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.