Sentences with phrase «alternative fee structure»

If you are a lawyer adopting an alternative fee structure, experts stress the importance of establishing clear expectations with your client, and carefully considering which services you will offer under that structure.

Before adopting an alternative fee structure, lawyers should understand and be prepared to manage the potential risks involved.

Especially at the outset of the relationship, an identifiable bent towards technological proficiency would give me more confidence that a particular firm is taking the proper approach to achieving profits under an alternative fee structure.

The answer — already being deployed in different corners of the industry — is a combination of alternative fee structures, virtual firms, women - owned firms, and the outsourcing of discrete legal jobs to other jurisdictions.

His point is that they have to come up with alternative fee structures that do a better job of matching price to value.

This has reduced demand and created downward price pressure in the market, which gave rise to some interesting alternative fee structures.

Unlike most law firms that bill clients based on the total billable hours each lawyer works on a particular matter, M&A Law Firm, P.C. employs a variety of alternative fee structures.

Clients are now much more sophisticated consumers of legal services — they have responded by demanding discounts and requesting alternative fee structures from their advisers.

The legal sector has risen to the challenge in a variety of ways — offshoring and northshoring, alternative fee structures, new technology and automated processes or artificial intelligence.

While some New Law models have been created as a direct result of the economic downturn, the founding partners of Valorem started talking prior to the recession about creating alternative fee structures for their clients.

The verdict is in, and it's readily apparent that clients prefer alternative fee structures.

Alternative fee structures lead to more efficiency in law firms which affects all other aspects of the legal business.

One litigation firm, Valorem Law Group, offers online resources to enhance collaboration and case management, alternative fee structures, and a «Value Adjustment Line» on all invoices, enabling the client to adjust the firm's fees if they choose to do so.

Invited to speak to Ontario lawyers on the topic of alternative fee structures at the Law Society of Upper Canada annual Small and Solo Law Firm conference.

The numbers are in, and law firms that implement alternative fee structures are pulling ahead of the pack.

By utilizing alternative fee structures, Feher Law assists clients in resolving their financial matters.

Any new solo has to determine whether to go with the billable hour, a flat fee arrangement, or other alternative fee structures.

Today's law firms, although gradually adopting more innovative alternative fee structures, are still very much driven by the billable hour.

Here are 6 alternative fee structures for law firms to consider, along with an explanation of the risks and benefits of each.

Unlike virtually every other major law firm operating in this sector, we are willing to consider alternative fee structures, including contingency, success fee and flat fee arrangements, whenever we believe they would be mutually beneficial for us and our clients.

Offering alternative fee structures should be a given at this point.

client demands for alternative fee structures that could reduce profitability to almost nothing

What is new is that with ever - increasing competition for legal work and the growth of alternative fee structures, GCs will require greater than ever flexibility from law firms to move out of their comfort zones in providing support which is responsive and good, but may not be the absolute best work that could be performed absent time and budget constraints.

You may, for example, be among a new wave of pricing specialists who have joined law firms to help steer them through the challenges of shifting from the billable hour to alternative fee structures.

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You're right that discussions around value billing seem to be dominated by simply creating alternative fee structures or reducing the price.

Do you use alternative fee structures?

Mary is a frequent writer and speaker on tax, benefits, asset protection planning, and estate planning topics as well as on law practice related topics including improving the delivery of legal services, technology in the practice of law, building sustainable law firms, and alternative fee structures.

John - Paul Boyd suggests that offering alternative fee structures can effectively increase access to justice while also maintaining the profitability of your law practice.

O'Reilly said while U.S. firms are doing a good job on alternative fee structures, firms here at home still have work to do on offering discounts on rack rates.

Pontello goes on to say that arbitration clauses are not included in retainers for the same reason lawyers are reluctant to offer alternative fee structures.

Not exact matches

When considering alternative investments, you should consider the fact that some products may utilize leverage and other speculative investment practices that may increase the risk of investment loss and be illiquid, are not required to provide periodic pricing or valuation information to investors, may involve complex tax structures and delays in distributing important tax information, are not subject to the same regulatory requirements as mutual funds, often charge high fees including incentive fees, and in many cases have underlying investments that are not transparent and are known only to the investment manager.

Issue: The Surface Transportation System Funding Alternatives (STSFA) program's purpose is to provide grants to States to demonstrate user - based alternative revenue mechanisms that utilize a user fee structure to maintain the long - term solvency of the Highway Trust Fund.

They are usually able to reverse the charges for you, clarify fee structures and possibly even recommend an alternative account more suited to your needs — and with lower fees to boot.

In Argo's case, I address the slippage in AUM in the past couple of years by: i) haircutting my valuation of the asset management business to 3.75 % of AUM (if AUM were increasing steadily & incentive fees being earned, a valuation of 7.5 % or even 10 % of AUM wdn't be unreasonable, considering Argo's fee structure, and ii) calling for more resources to be devoted to fund - raising, and other alternative revenue / fee sources (for example, like white - label & sub-advisory contracts) to be explored — see here: https://wexboy.wordpress.com/2012/11/16/argo-escape-from-an-evil-state/

How do the wealth transfers from your proposal compare with an alternative of a emissions charge set at the level of your fee that finances a «general» tax reduction structured to maintain the current vertical equity structure in Alberta as much as possible?

Implementing alternative pricing arrangements isn't easy — it takes time and effort on the part of the firm to understand the needs of the client, to develop a fee structure that makes sense for the firm and the client, and to adequately explain that system to the client based upon the client's needs.

Washington State is now the first state [1] to allow alternative business structures (ABSs), whereby non-lawyers are authorized to share fees with lawyers and have ownership interests in law firms via the recently approved Limited License Legal Technician (LLLT) Rules of Professional Conduct (RPC).

Regarding legal billing structures, personal injury and plaintiffs» employment lawyers have had an «alternative» fee structure for decades: contingent fees.

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.

We now have alternative business structures out of the UK and a myriad of companies providing legal advisory and LPO services without the fee - draining partnership model.

Most controversial among these is the proposal that «lawyers should be allowed to practise in business structures that permit fee - sharing, multidisciplinary practice, and ownership, management, and investment by persons other than lawyers or other regulated legal professionals,» in other words, alternative business structures.

Mid-sized firms are also taking advantage of clients» desire for lower rates and alternative billing by opening offices in other cities to meet the ever - growing demand for innovative or flexible fee structures.

A webinar for lawyers on alternative billing and fee structures.

And a lot of the issues that are driving the necessity of this new strategic outlook, or positioning, may be new technology, alternative billing arrangements, the fee structure, obviously, the generational mix... diversity, etc..»

With the growing trend of fixed fee pricing, alternative fee arrangements, and other pre-arranged cost structures for legal work, it is more important than ever for a researcher to know several things that don't relate to the problem their research is attempting to answer:...

It is the firm's policy to work with our clients to develop rate structures and billing procedures that are mutually agreeable, including alternative billing arrangements such as fixed or task - based fees, contingent fees and volume - based discounted fees.

It appears that alternative billing is the new norm for law firms, so it's important to gain a strong understanding of all the different billing methods and fee structures available to you.

«Structuring, Implementing and Evaluating Alternative Fee Arrangements Effectively Around the Globe» Association of Corporate Counsel's Annual Conference Presenters: Bob Harchut, GSK; Chris Jacobs, Advanced Micro Devices; Jason Stevens, Novant Health

ALM Legal Intelligence reports that as clients request alternative fee arrangements, law firms find, at a 2:1 ratio, that these new billing structures are less profitable.