Not exact matches
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!
An article in Inside Counsel gives five strategies clients can use to prevent «runaway legal
fees,» claiming that although more «companies are moving to
alternative fee arrangements, seeking either fixed or flat
fees to cover legal work
over a period
of time,....
It used to be that
alternative or «appropriate»
fee arrangements were the common subject matter
of in - house counsel conference seminars, but
over the last few years the mechanics around the various AFAs out there have given way, it seems, to a more hefty discussion on more thought - out budgets and project management.
Download Report 2014 CounselLink Enterprise Legal Management Year - End Trends Report Executive Highlights AFA usage has been increasing steadily
over the past 4 years The number
of legal departments engaging in
alternative fee arrangements with their law firms is...
Carrying
over from the last few years is a decline in the use
of alternative fee arrangements — 3.2 per cent said AFAs were the billing
arrangement they had with their primary law firm / external service provider, which was a slight drop from 4.9 per cent last year and a considerable drop from 12.7 per cent in 2015.
There's been a lot
of talk
over the years
of the importance
of law firms stepping up to offer added value,
alternative fee arrangements, and better relationship management to clients.
Indeed, as we said years ago in the post chronomentrophobia, «from the perspective
of the overworked associate or partner, there is nothing wrong with the billable hour
fee system that is not very likely to be carried
over to any
alternative billing
arrangements, so long as the firm expects the shift to be made without reducing its income or profits, and the lawyer expects the same income.