Law Firms and Alternative Fee Arrangements

NOTE: This is available only through Legal Compass. Contact our Sales team at 888-770-5647 or by email almlegalintel@alm.com for information.

This is available only through Legal Compass. Contact our Sales team at 888-770-5647 or by email almlegalintel@alm.com for information.

In recent years, ties between firms and the companies they represent have frayed.  Many clients have pared back their rosters of outside counsel, sometimes ending decades-long relationships.  Even when clients have stayed with their outside counsel, they have routinely demanded deep discounts in the price of their legal work.

Much of the tension in this troubled relationship focuses on the hourly rate system, which is used by nearly all large law firms and most small ones.  Many in-house lawyers advocate replacing it with alternative fee arrangements (AFAs), or billing methods based on metrics other than the number of hours worked.  The deep recession of 2007-09 has given these proposals a new urgency.

Key findings:

* The frequency with which firms bill using alternative fee arrangements
* How AFAs have grown since 2009, and how they are projected to grow through 2015
* How firms are managing, monitoring & pricing AFAs
* Factors preventing the more widespread use of AFAs

______________________________________________________________________________

 

All sales for ALM Legal Intelligence products are final, no returns will be accepted.

______________________________________________________________________________

ALM Legal Intelligence provides market data and law firm specific research and reports that examine the issues impacting today's legal market. We offer over 40 legal research surveys, signature lists and rankings. Click here to view our entire portfolio of research products.

If you wish register to receive information and special offers via email from ALM Legal Intelligence click here.

 

LinkedIn - Click here to become a member of the ALM Legal Intelligence Group.



 

Copyright © 2019 ALM Media, LLC. All Rights Reserved.