Sentences with phrase «clients alternative billing arrangements»

I can pull together teams of top - flight attorneys with specific skill sets for both large and small deals and can offer clients alternative billing arrangements that are appropriate for their needs and the requirements of the deal.

Not exact matches

Most of the ideas are fairly obvious — lower starting salaries for new associates combined with increased training, a menu of alternative billing arrangements for clients, creation of client - centric practices such as frequent evaluations and client wikis to keep clients informed.

Clients can be skeptical of alternative billing arrangements when they do not understand how those arrangements will benefit them.

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

'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).

As a nimble friendly boutique firm, we can also offer cost - effective, alternative billing arrangements to help our clients manage their business law and litigation expenses.

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.

«At a time when general counsel are looking for alternative billing arrangements, the playing field has been leveled, so smaller firms can make pitches to big clients that would have fallen on deaf ears before,» DuPont General Counsel Thomas L. Sager told Cotts.

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.

On alternative fees: Clients, not firms, have been the greater barrier to adoption of alternative billing arrangements, panelists suggested.

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

(3) Are there existing or potential clients that your firm may better retain, attract and serve by being willing to agree to alternative billing arrangements?

To accomplish this, partners must select which clients and practice areas to make available for alternative billing arrangements and to invest their time to manage each practice area.

(6) Does your firm have a plan to develop the necessary skills to implement alternative billing arrangements with specific clients?

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.

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.

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.

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.

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

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.

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.

Competition for corporate, business and individual clients will cause traditional hourly billing rates to be replaced by variations of hourly billing arrangements, contingency and fixed fee and combination of these alternatives.

We've written a lot about the billable hour from various perspectives, and have considered some alternative billing arrangements available to lawyers and clients.

LexSage understands that clients are increasingly asking whether alternative billing arrangements are offered.

The alternative billing arrangements may better align a client's perception of the value of legal services and management of legal resources.

Access to accounting and billing data allows firm management to assess the financial impact of key clients or matters, or to support decisions on alternative fee arrangements

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.

Kimberly has developed and implemented business strategy and process improvements, managed the successful integration of legal teams, and applied market data and performance metrics to set billing rates, negotiate alternative fee arrangements, optimize staffing levels, and increase client value.

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.

McCarthy Tetrault's use of law firm analytics to re-engineer and improve M&A due diligence procedures, for example, «has allowed us to reduce costs to our clients up to 75 per cent, while charging them using predictable alternative fee arrangements such as fixed - rate billing,» said Peters.

For example, I have seen this accomplished with the help of the LexisNexis Juris billing, accounting and financial management software which enabled the firm to produce timely and informative reports based on clients» billing and collection performance, and then using those metrics to determine where the firm can offer more competitive alternative fee, or non-hourly, arrangements.