Especially
when alternate fee arrangements are implemented, but in almost any scenario; using this technology has the potential to help keep profits up, as well as client satisfaction.
The global trend towards fixed fee or
alternate fee arrangements for law firms has caused lawyers worldwide to need to understand the creation of the legal matter budget.
Why do topics such as pricing or
alternate fee arrangements seem to be left up to marketing and finance when the models knowledge management generates are a key factor in delivering realistic AFAs?
These firms are
making alternate fee arrangements, alternative business structures, legal process outsourcing, off - shoring — and many more of the buzzwords of the legal futures literature — work for them.
«But we certainly are prepared, when we go to a client interview, to talk about what kind
of alternate fee arrangements we can offer, and what [information] we would need to determine what we could offer.»
Posts cover knowledge management, outsourcing and
alternate fee arrangements.
Alternate fee arrangements and flat fees are also a much talked - about change that technology could make viable.
Some of the means suggested to increase access — de-lawyering; unbundling of legal services;
alternate fee arrangements; online dispute resolution; risk avoidance, etc. — are the same as those offered up as answers to Susskind's more - for-less challenge, thereby bringing the discussion full - circle.
Even when a client is not pushing for
alternate fee arrangements, recognizing that fixed fees for certain routine services or matters can be more profitable and could result in a win - win.
While many older firms are overburdened with paperwork and committed to a dying business model, the JHS firm combines the latest legal technology, a highly accomplished staff and
alternate fee arrangements to give our clients an edge.
Alternate fee arrangements?
BYRON SONBERG: In some respect,
alternate fee arrangements have been around always, and clearly clients are focusing on them more now and struggling themselves on it.