Make More Rain : alternative fee arrangements, know your alternatives

The Gap Between Theory and Application of Alternative Fee Arrangements

DerekSchutz — Tue, 09 Mar 2010 14:00:00 GMT

"There's many a slip 'twixt the cup and the lip" If anyone has read a legal blog in the last year, there is a very high probability that you have read one about Alternative Fee Arrangements and/or pricing. On this site alone we devoted...(read more)

Know Your Alternatives - Wrapping Up the Series

RussHaskin — Tue, 02 Mar 2010 14:00:00 GMT

As I mentioned in November, when I started this series, it could hypothetically go on forever. Half of my consulting efforts have been focused on alternative fee arrangements over the past year. There is little doubt that I will continue to post on the...(read more)

Know Your Alternatives: External Ethics

RussHaskin — Tue, 22 Dec 2009 18:07:00 GMT

Last week I had the pleasure of being a presenter on a webinar held by the Center of Competitive Management that focused on the ethical considerations of alternative arrangements. It is a topic that has not been given proper attention as AFAs continue...(read more)

Know Your Alternatives: Internal Ethics

RussHaskin — Wed, 16 Dec 2009 18:49:00 GMT

Although this will indicate a piece of my style of humor, one of my favorite movies happens to be Billy Madison with the great Adam Sandler. Not to bore you with the details of the film, but if you are familiar with this piece of cinematic genius you...(read more)

Know Your Alternatives: The Billable Hour and Sensational Headlines

RussHaskin — Wed, 02 Dec 2009 18:10:00 GMT

I woke up this morning and started to read up on the recent news articles as I do each morning. There has been a lot of press around alternative fee arrangements and much of it is needed. What I have not been pleased with is the sensational headlines...(read more)

Know Your Alternatives: This is Not the Time to Hold Back

RussHaskin — Mon, 23 Nov 2009 20:07:00 GMT

In earlier posts I have emphasized the need for establishing a process around alternative fee pricing, tracking, and execution . To do this you have to understand your culture and have the right people in place and the right partners on board. I want...(read more)

Know Your Alternatives: Another Week – Another Conference

RussHaskin — Fri, 13 Nov 2009 19:08:00 GMT

As I mentioned last week, there is no doubt that alternative arrangements are the hottest topic this year. It is by far the number one topic firms are asking about and the number one conference topic as well. Therefore given this is near and dear to my...(read more)

Know Your Alternatives: The Never Ending Series

RussHaskin — Thu, 05 Nov 2009 20:38:00 GMT

I realized when I started this series that hypothetically it could go on forever. In previous posts, we have discussed fixed fees, capped, fees, contingent work, value based pricing, retainers, and other alternatives to the standard hour arrangement....(read more)

Know Your Alternatives: Capped vs. Fixed Fees

RussHaskin — Wed, 28 Oct 2009 14:51:00 GMT

In previous posts I have referred to my preference to the fixed fee arrangement . In addition I have also commented that as firms are building their repertoire and gaining trust with clients, capped fee arrangements could be the answer, especially those...(read more)

Know Your Alternatives: Contingent Work Basics

RussHaskin — Tue, 20 Oct 2009 18:53:00 GMT

At our User Conference this year we had a presentation called "Contingent Work: Worth the Investment?" The title of this presentation poses a question that is asked by many firms, especially those that are large in size. There are many boutique...(read more)

Know Your Alternatives: Retainers - Using an Old Friend

RussHaskin — Fri, 16 Oct 2009 19:26:00 GMT

The reality is that the majority of firms have concerns when it comes to their billing and collection practices. There is a lag in activity and that causes a loss in realization and an opportunity lost for re-investment (Time Value of Money.) That said...(read more)

Know Your Alternatives: The Blended Rate - An Alternative Arrangement or Not?

RussHaskin — Wed, 07 Oct 2009 16:59:00 GMT

It may seem odd to jump from speaking about the "pinnacle" of the alternative arrangements ( the fixed fee ) to what many consultants believe is not an alternative arrangement at all, the blended rate. The reason for the jump is simple. I have...(read more)

Know Your Alternatives - The Fixed Fee: Setting Yourself Up for Success (Part 2)

RussHaskin — Thu, 01 Oct 2009 20:24:00 GMT

In my first post on the fixed fee arrangement I ended with the following paragraph: "Experience and tracking are the keys for long term success. As law firms transition to fixed fee arrangements there will be difficulties and mistakes. It is a cliché...(read more)

Finding Success With the Fixed Fee Arrangement (Part 1)

RussHaskin — Wed, 23 Sep 2009 20:01:00 GMT

To find success in a fixed fee alternative arrangement for both the firm and a client there has to be a solid knowledge base of what the matter entails. This statement really can apply to any alternative arrangement. Therefore with that in mind before...(read more)

Musings from the Alternative Fee Arrangement Conference

RussHaskin — Thu, 17 Sep 2009 20:39:00 GMT

As we work through our " Know your Alternatives " series I will be posting on applicable information gathered through our continued experience with clients and conferences. The Alternative Fee Arrangement Conference held in New York this Wednesday...(read more)