Sentences with phrase «alternative billing arrangements in»

The more sophisticated business and corporate clients are insisting that outside counsel implement alternative billing arrangements in lieu of the traditional hourly - rate billing, which encourages and rewards inefficient performance and management of legal work, and discourages productivity and quick achievement of client objectives.

Not exact matches

Bills started piling up very quickly and, at the time, Banks were not very receptive to the alternative payment arrangements that they offered later on in the recession.

As the economic model of law firms changes with the rise of alternative billing structures to the billable hour, there may be more room for creativity in providing flexibile work arrangements for lawyers.

If attorneys avail themselves of the advances in computer technology in the past decade or two, they can more easily come up with flat fees or other alternative billing arrangements — and continue to make a profit, Calloway says.

In which practice areas is it possible or appropriate to offer alternative billing arrangements?

Analyze your practice in order to select which clients and which practice areas you will propose to make available alternative billing arrangements.

«Document automation software reduces the cost of producing court documents and letters, enabling greater price flexibility at a time when alternative billing arrangements are growing in popularity,» said Bass.

The type of legal work performed for your clients, the nature of your client base, the competitive environment in which your firm practices and the client's perception of the value of the legal work performed will be critical factors in determining whether your firm should volunteer or react to external pressures for alternative billing arrangements from your clients or as the result of competitive pressures created by other law firms.

Levy Zavet promotes and adopts value billing and in some cases adopts alternative billing arrangements.

The current economic crisis is pressing the need for alternative billing arrangements forward in a way never before seen.

There has been a steady onslaught against the billable hour in recent years, not least of which is such as the demand by many clients for alternative billing arrangements.

In fact, lawyers who solicit and utilize other marketing techniques and alternative billing arrangements may find many disenchanted clients of other firms receptive to the idea of changing lawyers.

In the simplest terms Alternative or Special Fee Arrangements are agreements between a law firm and a client to provide compensation to the firm based on a structure other than hourly billing.

The type of legal work performed for your clients, the nature of your client base, the competitive environment in which your firm practices and the client's perception of the value of the legal work performed will be critical factors in determining (a) whether your firm should volunteer or (b) react to external pressures for alternative billing arrangements from your clients or as the result of competitive pressures created by other law firms.

The ALM report surveyed 141 in - house law departments and 194 law firms on their use of — and satisfaction with — alternative billing arrangements.

The general theme is this: hourly billing frustrates clients; firms need to find new ways to add and show value — and the best way is through alternative fee arrangements that clients are gravitating towards in droves.

Led by the Association of Corporate Counsel's «ACC Value Challenge,» corporate America is increasingly demanding that their outside law firms abandon the entrenched, historic, «cost - plus,» «billable hour» economic pricing model in favor of «Alternative Fee Arrangements» («AFAs») and other «value billing» approaches (e.g., non-hourly pricing arrangements such as «fixed fee,» «contingency,» or «hybrid» fee arArrangements» («AFAs») and other «value billing» approaches (e.g., non-hourly pricing arrangements such as «fixed fee,» «contingency,» or «hybrid» fee ararrangements such as «fixed fee,» «contingency,» or «hybrid» fee arrangementsarrangements).

(1) Analyze your practice in order to select which clients and / or which practice areas you will propose to make available alternative billing arrangements.

(5) In which practice areas is it possible / appropriate to offer alternative billing arrangements?

Key Metric # 3: Alternative Fee Arrangement (AFA) Usage AFAs used in 9.4 % of matters and 7.0 % of billings in the past year 3b Based on trailing 12 - months ending December 31, 2015

Much like diving into the blog world, in - house counsel need to take the plunge into the world of alternative billing arrangements.

The type of legal work performed for your clients, the nature of your client base, the competitive environment in which your firm practices and the client's perception of the value of the legal work performed will be critical factors in determining two things: Whether your firm should volunteer; or React to external pressures for alternative billing arrangements from your clients or as the result of competitive pressures created by other firms.

In most of our plaintiff's matters, we are willing to explore alternative billing arrangements, with Lightfoot sharing the risk and expense attendant to all litigation.

For our clients on the defense side, we have been a leader in alternative billing arrangements and always maintain fair billing rates and invoices.

Figure 7: Enterprise Legal Management Trends Report Key Metric # 3: Alternative Fee Arrangements used in 10 % of matters and 6 % of billings in the past year Based on trailing 12 - months ending June 30, 2013

With counsel pursuing more and more non-traditional fee arrangements, the percentage of Corporate, General Tax matters having billings under some sort of alternative fee arrangement has risen from 9 % in the last report to 12.5 % in this latest report.

Key Metric # 3: Alternative Fee Arrangement (AFA) Usage AFAs used in 8.6 % of matters and 7.3 % of billings in the past year Based on trailing 12 - months ending June 30, 2015

Nicole Auerbach and Patrick Lamb of ElevateNext have been perfecting their skills in implementing alternative fee arrangements — with a disciplined refusal to bill by the hour — for an entire decade in full view of the rest of the legal industry.

Due to its expertise in Attorney Hourly Rate and Alternative Fee Arrangement (AFA) or Alternative Billing Arrangements Pricing for individual Attorneys at over 1,200 Law Firms including the Top 200 by Annual Revenue Size, Magic Circle and other large regional, middle - market, small and boutique Firms, Valeo has been used as a primary source and cited for articles in the major law and business publications.

These arrangements allow firms to offer clients more flexibility in billing and may be a viable alternative for smaller practices that can not afford to hire new associates.

[O] ver 80 percent of senior in - house counsel attendees said they believed law firms should share the risk of budget overruns, yet inexplicably, less than 5 percent had put into effect alternative billing arrangements to create risk sharing.

Law Firm Suites client and transactional attorney, Jason Huf, also mentioned this article in his recent blog post about «part - time in house counsel» arrangements as an alternative to the traditional hourly billing model.

For example, some firms have invested significant time and money in developing customized financial reporting producing performance metrics based on client billing, collection, realization, and costs associated with producing work — from task to timekeeper — then used those metrics to determine where the firm can offer more competitive alternative fee, or non-hourly, arrangements.

Corporate clients in the current buyers» market are increasingly demanding lower, fixed prices and value - based Alternative Fee Arrangements («AFAs») in lieu of hourly billing — making law firms bear the «risk of loss» in uncertain but complex litigation and transaction matters — even as the costs of running law firms continue to climb.

Law firms also use Contract Express to reduce unrecoverable hours and increase fee earner efficiency in order to engage in sustainable and profitable alternative billing arrangements.

Key Metric # 3: Alternative Fee Arrangement (AFA) Usage AFAs used in 12 % of matters and 7 % of billings in the past year Based on trailing 12 - months ending December 31, 2013

For example, in 2014, 45 % of CounselLink customers were billed under an alternative fee arrangement for Corporate, General, Tax matters compared to 39 % in 2013.

Key Metric # 3: Alternative Fee Arrangement (AFA) Usage AFAs used in 9 % of matters and 7 % of billing Based on trailing 12 months ending December 31, 2014

Carrying over from the last few years is a decline in the use of alternative fee arrangements — 3.2 per cent said AFAs were the billing arrangement they had with their primary law firm / external service provider, which was a slight drop from 4.9 per cent last year and a considerable drop from 12.7 per cent in 2015.

In my experience so far, the success of alternative billing arrangements is dependent on a number of factors:

As a practitioner who has recently started a consulting practice with both legal and «less legal» services in occupational health and safety, I thought an alternative billing arrangement would be freeing to both me and my clients.

As Peter Gutelius, an assistant general counsel with RBC, says in the current issue of Canadian Lawyer InHouse: «It depends what title you want to put on it — alternative arrangements or value billing — we have done it and believe it can be applied to any legal retainer.»

Indeed, as we said years ago in the post chronomentrophobia, «from the perspective of the overworked associate or partner, there is nothing wrong with the billable hour fee system that is not very likely to be carried over to any alternative billing arrangements, so long as the firm expects the shift to be made without reducing its income or profits, and the lawyer expects the same income.