How to Manage Your Law Office: Types of Fees

Hourly fees are the predominant billing method used by law firms. Beginning in the late 1980s and early 1990s, some clients began to object to this method and to any form of lawyer billing rate increase. Fueled by a recession and growing consumer sophistication, the fees charged by lawyers came under...

LexisNexis Tips Series: Mastering the Basics of Alternative Fee Arrangements

Rising client demand for alternative fee arrangements (AFAs) has forced an increasing number of law firms to move away from the hourly billing model. In many respects, firms are implementing AFAs in rather entrepreneurial fashion without benefit of proper planning and controls, says Norm Mullock of LexisNexis...

Is It “Alternative Fee Arrangements” or “Value-Based Billing?”

Yes. There has been discussion over the past months as to whether the better term for non-hourly billing is "alternative fee arrangements" or "value-based billing." The answer is yes, and yes. The first "yes" is an increasing number of firms and clients - not a majority...

Will the Future Associate be a Contract Employee?

The future of the legal profession is full of uncertainty. Will the old habits return as they did after previous recessions, or will these changes be permanent? No one knows for sure, but there are some possibilities and trends to take notice of. Cost Cutting: First of all, corporations have become...