Beyond the Billable Hour: A Practical Guide to Alternative Fee Arrangements

The billable hour is inefficient and prone to abuse…and entrenched in the law firm business model and culture. But change is underway. As law firms face more competition, and with individuals looking for affordable options and corporations under pressure to reduce costs resulting in more work being handled by contract lawyers and in-house legal departments, […]

Alternative Fee Arrangements - Hybrid

Alternative Fee Arrangements: Hybrid Fees

In How Many Alternative Fee Arrangements Are There?, we identified five core types of AFAs and a sixth: a hybrid of any of the five. We’ll examine each in a little more depth. Here’s a closer look at Hybrid Fees. Any combination of fees such as contingency, flat or fixed, success, retainer, hourly, and so on, […]

Alternative Fee Arrangements: Retainer Fees

Alternative Fee Arrangements: Retainer Fees

In How Many Alternative Fee Arrangements Are There?, we identified five core types of AFAs and a sixth: a hybrid of any of the five. We’ll examine each in a little more depth. Here’s a closer look at Retainer Fees. Mentioning the words “retainer fees” around a potential new client can sometimes be a nerve-racking […]

Alternative fee arrangements

How Many Alternative Fee Arrangements Are There?

The death of the billable hour has been greatly exaggerated over the years. Billing by the hour for services rendered is standard and will always be on the table — in the legal industry and beyond. But, clients are increasingly demanding alternatives fee arrangements (AFAs). In other words, clients want efficiency, transparency, and affordable and […]

3 Reasons Why I Transitioned To Flat Fee Billing

Coming from a commercial litigation background, I was well versed in the billable hour. So, when I started my own practice, that was my starting point. It’s what I knew. Over time, my practice transitioned from the traditional hourly billing model to primarily flat fee billing for a few different reasons. Here are three: 1. […]