Sentences with phrase «profitability of the alternative fee»

Not exact matches

While all panelists agreed that profitability is most important, each gave different ideas of how to respond to requests for alternative fee arrangements, from fixed fees and discounted hourly rates, to finding opportunities for the firm and their client to «split the difference» when certain milestones are achieved at greater - than - expected margins.

As discussed below, while proponents of alternative fees contend that they make time sheets irrelevant, others believe that firms still need to keep track of hours spent either to ascertain profitability or justify bills to clients.

Back in February 2008, Tom Kane endorsed alternative billing at Legal Marketing Blog, (specifically, the Jay Shepherd approach), but remarked that it seems foolhardy not to keep time records, if only to evaluate profitability of fees and levels of costs.

What makes a good pricing officer is a solid understanding of alternative fee arrangements, how a law firm works, having a comfort level with spreadsheets, and an understanding of law firm profitability.

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

Note: Mr. Esposito is a frequent speaker and author on a wide - range of topics facing the legal industry, including alternative fee arrangements, legal project management, and law firm profitability models.