News & Analysis as of

Legal Fees Alternative Fee Arrangements

Stange Law Firm, PC

What's The Fascination With Flat Fees?

Stange Law Firm, PC on

Many clients complain about the fact that most lawyers bill by the hour. They often do not like billable hours because it results in the cost of their case being variable. ...more

WilmerHale

The Art of Projecting Budgets for Litigation Alternative Fee Arrangements

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

WilmerHale

5 Questions To Ask Before Entering Joint-Representation AFA

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

WilmerHale

5 Questions All AFAs Should Answer Clearly

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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

WilmerHale

5 Questions Firm Should Ask Before Approving Litigation AFA

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

WilmerHale

5 Questions To Ask Yourself Before Submitting A Litigation AFA

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

WilmerHale

5 Questions To Ask Firm Before Accepting A Litigation AFA

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

WilmerHale

5 Questions To Ask Client Before Proposing A Litigation AFA

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

Robins Kaplan LLP

Using Alternative Fee Arrangements to Redefine Your Bottom Line

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

Stinson LLP

Legal Project Management, The Greatest Thing Since Sliced Bread?

Stinson LLP 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

Sullivan & Worcester

Creating Alternative Fee Arrangements Focusing on Value

Sullivan & Worcester on

In-house counsel hire outside counsel for specific purposes, for example: to document and implement a transaction; to obtain a favorable outcome in a dispute; to provide specialized expertise or counsel; or to provide...more

Nancy Myrland - Myrland Marketing & Social...

Lawyers Have A Hard Time Dealing With Change [#LMAP3 Recap #1]

I just attended the LMA, or Legal Marketing Association’s, 3rd annual P3 Conference in Chicago. It was sponsored by the LMA Client Value SIG, or Shared Interest Group. This year’s co-chairs were Keith Maziarek, Sr. Manager,...more

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