In our case, we use the resources external investors provide to invest in technology and adopt alternative billing structures, such
as flat fee billing.
Not exact matches
Economic pressures to reduce legal costs is the primary force behind a growing number of firms moving away from the billable - hours model to new alternative
billing models such
as fixed,
flat, blended or capped
fees.
The county legislature's Democratic Minority Leader Cindy Kaleh says the budget «perpetuates the illusion that taxes are
flat...» She says county taxpayers continue to see their tax
bills «creep higher
as the county collects more revenue and
fees...»
Pricing for all of the Internet Dating Business Services is a
flat service
fee and is
billed as a whole on a monthly bases.
It's not uncommon for debit card
fees for rent payments to be a
flat dollar amount,
as opposed to a percentage of the total
bill.
Generally we focus our attention on the mechanics of common structures, such
as volume based discounting, contingency arrangements,
flat fee billing, success
fees or secondments.
We have already started to see attorneys change
billing to more of an «a la carte»
flat fee structure, and
as young attorneys get more comfortable with what certain jobs take to complete, I expect we will see more and more of that.
In comparison, litigation is unpredictable and does not
as easily lend itself to
flat -
fee billing.
For many years, the profession has been talking about alternative
billing schemes such
as flat fees, unbundled legal services, and pay - what - it's - worth options.
This means being open to alternative
billing models such
as fixed,
flat, capped or blended
fees for services, in order to ease potential cash constrains that you're your client may be temporarily experiencing.
Flat -
fee billing would be a great leap forward for access to justice in litigated personal plight matters such
as family law.
The main concern with
flat -
fee billing is that «if you're skimping on the work, the result might not be
as good.»
One advantage of using the CosmoLex law office
billing program is that you can still track hours and expenses
as unbillable even on
flat fee cases so you can determine if you are charging an appropriate rate.
Now lots of lawyers don't
bill by the month or by the week or by the year, lots of lawyers
bill either
flat fees or hourly
fees, but during that time you still need to make sure that person sees values and if you're going to have a relationship with that client over time, you need to make sure that they see value in staying connected to you or staying friends with you and maybe that's
as simple
as doing a monthly or a weekly newsletter like Noah does, but you need to make sure that they believe that it is valuable to stay in your circle so that their ready to hire you when it's time to hire you.
Topics may include, for example, how to create a business plan, the key elements of an engagement letter, how to choose your niche, and how to decide between different
billing arrangements such
as contingency
fees, hourly rates or
flat fees.
While hourly
billing is the mainstay of T&M's relationship with its clients, the firm has
flat -
fee services
as well.
Value
billing can be structured
as fixed
fees,
flat fees or success
fees.
On litigation I haven't done
as much work in terms of trying to get either
flat fee, or to not exceed numbers for different portions of litigation, but certainly I think that's something I might be interested in, if I was going out to look for a new firm, rather... Rely on litigation context is understanding how a firm
bills and how an individual attorney
bills.
Setting your hourly
billing rate or quoting
flat fees is a big challenge when you are starting out, launching
as a solo, or re-vamping your practice.
In some states, even litigation tasks
billed as flat fee tasks and clearly communicated in your
fee agreement can be earned upon receipt.
As alternative
billing approaches go,
flat fees have many fans.
As a lawyer, time is your most - valuable asset whether you spend it
billing time or completing
flat -
fee tasks.
But now, tired of subsidizing law firm gravy trains, large corporate clients are forcing firms to offer alternative
billing arrangements, such
as flat fees, volume discounts and banning new associates from working on matters.
As an alternative to traditional hourly
billing, we offer
flat fees, monthly subscriptions,
fee deferrals and equity compensation.
Here's a revelation: clients will care less about the mechanics of your invoice, whether you
bill by the hour, by the word or offer
flat fees based on astrology charts, so long
as the value delivered is commensurate with the price paid.
I agree that firms using
flat fees focus their
bills and clients» attention on solutions rather than process but this strikes me
as a marketing tactic rather than evidence of a material difference between services offered.
At heart of the new software are complex mathematical models that help firms forecast what it will cost to perform a certain project, and thereby determine if it makes sense to offer an alternative
billing arrangement for that project such
as a
flat fee.