Sentences with phrase «alternative fee arrangement»

One question that I have been asked and ask frequently myself: does not the phrase «alternative fee arrangement» suggest that these are not mainstream yet?

We can quickly approve an alternative fee arrangement.

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.

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

In fact, 95 % of law firms now have some kind of alternative fee arrangement in place.

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.

This chart shows the % of billings under an Alternative Fee Arrangement (AFA) by firms of different sizes.

Determining what alternative fee arrangement will depend on your department, your budget, your outside counsel and the types of projects you're working on.

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

To do so, a lawyer must first assess the case, determine the time that will likely be involved, apply the rate for the lawyer's time per hour and the rate for an associate lawyer time per hour (or determine whether an alternative fee arrangement is appropriate), charge for staff time, and estimate any other likely expenses.

I think there are a couple of circumstances where a legal department would not be able to have an alternative fee arrangement work.

It's a natural reaction for lawyers and law firms to resist it because they would like to retain the hourly billing at a non-budgeted amount, but there are lawyers and firms that actually come to the table and offer the alternative fee arrangement — it could be a cap on certain things, or a volume discount.

«It was pretty radical to say we're going to move every new engagement around the world, whenever feasible, to an alternative fee arrangement,» he said.

It required everyone to sit down and dedicate the time to deal with it which lead to an alternative fee arrangement.»

Approximately 20 % (19.6 %) said the number of legal services performed under an alternative fee arrangement (AFA) were higher in 2012 than in 2011.

If you'd like more information on the ELM Trends report, please join us for a free webinar that will elaborate on where law firm rates are headed, what the law firm consolidation trend means, the state of alternative fee arrangement (AFA) utilization among other points.

Gordon McCue, associate general counsel for strategy and coordination at Shell (pictured right), says his department has introduced an alternative fee arrangement programme that means Shell's panel firms must agree to do work on its terms.

The Firm offers a wide range of alternative fee arrangements that work best for the unique situations in which clients find themselves.

Bratton seems to agree in his article, saying that in his experience, alternative fee arrangements run into difficulty when projects «blow up quickly or change direction unexpectedly, such that a quote at the beginning of a project based on a number of assumptions can become meaningless.»

If you quote flat fees or use subscriptions, unbundled services, or alternative fee arrangements, you can stop tracking time altogether.

Still, they too, are putting pressure on law firms for lower fees and many are pushing law firms to consider flat fees and other alternative fee arrangements.

Microsoft is aiming for 90 % of its external legal work to be carried out under alternative fee arrangements - but what do its law firms think?

, author Tim Bratton notes that despite all of the discussion about alternative fee arrangements, the focus of in - house counsel continues to be on billable hours as a standard for measuring «value,» even while all involved seem to concede that time does not actually equate to value.

To be successful at making a change from the billable hour to alternative fee arrangements, lawyers should be clear about the benefits to their clients and the consequences for failing to make the change.

The client needs to understand why it helps them to agree to alternative fee arrangements and to let the firm know what their needs are and what they value.

Hildebrandt's Chung predicts this will lead even more companies to pursue alternative fee arrangements with outside counsel.

On the customer front, two examples: Half of The American Lawyer's 20 A-List firms are on record this year as starting alternative fee arrangements with important clients such as Pfizer and Citibank.

Lest you think that Cravath is stacking the decks against itself with this kind of advice, Chesler reveals that his firm is «trying more and more to come to alternative fee arrangements that make the billable hour irrelevant.»

Other improvements include additional alternative fee arrangements, group portfolio pricing along with the addition of success / bonus fee values, an enhanced ability to search for specific matter plans, new margin percentage columns in the forecast screen and forecast locking to prevent multiple users from updating a plan at the same time.

Aderant Expert MatterWorks utilizes an easy - to - use wizard approach to simplify matter planning and forecasting, enabling firms to more easily and confidently respond to and manage requests for both standard and alternative fee arrangements.

Even as the recession eases, corporate clients continue to pressure their law firms to cut costs, increase efficiency, and move to fixed fees and alternative fee arrangements (AFAs).

Therefore, they seek more alternative fee arrangements, fixed / capped costs and creative billing arrangements from their law firms.

Whether you bill hourly or use alternative fee arrangements, knowing how much work you're putting into a matter versus how much you think you should or want to put into it is critical.

Law360 reports that BTI Consulting Group has published a recent survey that shows out of $ 21.3 billion spent by chief legal officers inside top U.S. corporations, alternative fee arrangements to hourly rate arrangements accounted for 35.6 % of total spending in 2015, up 20.5 % from 2012.

The use of technology and alternative fee arrangements have exploded in the past few years; however, prepaid legal plans have been around for over forty years!

The survey also contains a leaderboard of 22 law firms named by corporate counsel as best at developing and delivering alternative fee arrangements.

They are doing cost / benefit and risk analyses, undertaking RFPs and are demanding more affordable legal services and alternative fee arrangements (e.g., flat or fixed fees, blended rates, phased fees, fees with a collar1, value fees, etc.).

This trend will accelerate as fixed fees and other risk sharing alternative fee arrangements spread.

We'd like to invite corporate counsel and their law firm counterparts to share their views on the subject of alternative fee arrangements and answer these questions.

Law firms that proactively offer alternative fee arrangements will benefit from the process.

Patrick served on the LegalBizDev Advisory Board for Legal Project Management, Pricing and Alternative Fee Arrangements.

Alternative fee arrangements have finally become the cost control tool they were intended to be.

's clients can choose to utilize alternative fee arrangements such as fixed costs, capped fees and / or «value billing» (or a mix of all three).

Embracing Alternative Fee Arrangements: Applying Data Analytics to Move Beyond the Billable Hour (summary coming soon!)

The 2016 Altman Weil Law Firms in Transition Report shows that relatively few firms (28 %) proactively initiate alternative fee arrangements.

BTI Consulting Group surveyed general counsels and legal decision makers on their use of alternative fee arrangements.

I am thrilled to announce the publication of my book, Alternative Fee Arrangements: Value Fees and the Changing Legal Market.

«At times, we have utilized alternative fee arrangements — sometimes at our own initiative, sometimes at a client's request — but I wouldn't say there's a significant increase in the types of matters that are services using a flat, block or alternative fee arrangement.»

Alternative fee arrangements will become the standard, and if there are any new law school graduates hired from the classes of 2009 and beyond (it seems that no 2009 grad has started before 2010), they will know only non-hourly fees.

Clients are learning to manage the increasing caseload through budgeting and Alternative Fee Arrangements (AFAs) with litigation firms.