Sentences with phrase «for alternative billing arrangements»

The company has announced that it will no longer pay hourly attorney's fees, opting for alternative billing arrangements with select law firms.

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.

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.

«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 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.

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.

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

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.

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.

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.

«We've been doing alternative fee arrangements for over 20 years,» says managing partner William (Bill) S. Chalmers.

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.

Our new recurring billing feature is perfect for attorneys offering alternative fee arrangements.

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

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.

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.

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.

Add Meisterline ® ratings to project spreadsheets; Map them to billing rates and Alternative Fee Arrangements; Quickly identify under and over-valued legal specialists; Perform return - on - expertise calculations to screen legal teams and for post-project reviews.

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.

For example, in 2014, 45 % of CounselLink customers were billed under an alternative fee arrangement for Corporate, General, Tax matters compared to 39 % in 20For example, in 2014, 45 % of CounselLink customers were billed under an alternative fee arrangement for Corporate, General, Tax matters compared to 39 % in 20for Corporate, General, Tax matters compared to 39 % in 2013.

Crane discussed a number of alternative fee arrangements including discounted and volume discounts (e.g. 15 per cent on the standard hourly rate, for example, when fees billed exceed $ 100,000 a year), and blended hourly rates (such as $ 400 / hr blended rate for all lawyers on a file or $ 300 / hr for associates and $ 500 / hr for partners), as well as fixed and capped fees.

The query stems from an observation of substantial profits by large U.S. firms using alternative billing arrangements for plaintiff - side antitrust cases.

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.

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.