Legal Business

Recent Posts

Risk collars: A great way to start offering alternative billing
Posted on 3 Mar 2010 by Jim Hassett

Whenever I give speeches about alternative fees, lawyers who are just starting to consider this approach are fascinated by the idea of risk collars. These arrangements are essentially the same as hourly billing, with one giant exception: risk collars... Read More

To determine the financial stability of a law firm, how far should legal departments inquire?
Posted on 25 Feb 2010 by Rees W. Morrison

When coalescing its group of outside counsel into a smaller number of primary firms or selecting a firm for a multi-year commitment, a law department rightfully wants to select firms that are financially solid, that will prosper during the term of the... Read More

The Revenue Impact of Alternative Fees (Part 1 of 2)
Posted on 2 Mar 2010 by Jim Hassett

Last month, Of Counsel, the Legal Practice and Management Report, published an article based on The LegalBizDev Survey of Alternative Fees , which they described as "the most lucid and comprehensive study that we have seen on this topic." This... Read More

The Revenue Impact of Alternative Fees (Part 2 of 2)
Posted on 2 Mar 2010 by Jim Hassett

Last month, Of Counsel, the Legal Practice and Management Report , published an article based on The LegalBizDev Survey of Alternative Fees , which they described as "the most lucid and comprehensive study that we have seen on this topic." This... Read More

More On The Reality of Alternative Fees
Posted on 19 May 2010 by Tom Kane

During Jackson Lewis ' annual corporate counsel conference, as reported in The National Law Journal and on Law.com's Small Firm Business , alternative fees are "putting down deep roots." This got my attention, because although there... Read More

An Interesting Point in Support of AFAs
Posted on 3 Mar 2010 by Steven B. Levy

Anthony Tijan's article in the Harvard Business Review about bundling services and goods goes on to make an intriguing point about Alternative Fee Arrangements (AFAs): "I remember receiving a legal bill that carefully showed the breakdown... Read More

In-house lawyers admit some resistance to alternative fee arrangements, but blast law firms, perhaps unfairly
Posted on 9 Apr 2010 by Rees W. Morrison

A survey of corporate lawyers conducted by Serengetti asked them to scale their own resistance to alternative fee arrangements (AFA) and their perception of law firm resistance to AFAs. On the scale given, a 1 means "no resistance"; a 3 presumably... Read More

Three Innovations from Non-US Firms about Billing and Fees
Posted on 22 Feb 2010 by Rees W. Morrison

You might want to think about these steps taken by two UK firms and an Italian firm, as reported in the Financial Times, Innovative Lawyers 2009 at 37. Linklaters has created a "global pricing function." For the huge UK firm, "pricing... Read More

Legal Project Management (Part 6) – Budget problems and solutions
Posted on 28 Apr 2010 by Jim Hassett

Many lawyers believe that it is simply not possible to predict the costs of complex legal matters. As the managing partner of a firm with more than 1,000 lawyers put it in The LegalBizDev Survey of Alternative Fees : [Some] litigators say [a fixed... Read More

  • Blog Post: Three Innovations from Non-US Firms about Billing and Fees

    You might want to think about these steps taken by two UK firms and an Italian firm, as reported in the Financial Times, Innovative Lawyers 2009 at 37. Linklaters has created a "global pricing function." For the huge UK firm, "pricing professionals within its marketing department advise...
  • Blog Post: To determine the financial stability of a law firm, how far should legal departments inquire?

    When coalescing its group of outside counsel into a smaller number of primary firms or selecting a firm for a multi-year commitment, a law department rightfully wants to select firms that are financially solid, that will prosper during the term of the agreement. That desire prompts questions in the Request...
  • Blog Post: The Revenue Impact of Alternative Fees (Part 1 of 2)

    Last month, Of Counsel, the Legal Practice and Management Report, published an article based on The LegalBizDev Survey of Alternative Fees , which they described as "the most lucid and comprehensive study that we have seen on this topic." This post reproduces the first part of the article....
  • Blog Post: The Revenue Impact of Alternative Fees (Part 2 of 2)

    Last month, Of Counsel, the Legal Practice and Management Report , published an article based on The LegalBizDev Survey of Alternative Fees , which they described as "the most lucid and comprehensive study that we have seen on this topic." This post reproduces the second part of the article...
  • Blog Post: Risk collars: A great way to start offering alternative billing

    Whenever I give speeches about alternative fees, lawyers who are just starting to consider this approach are fascinated by the idea of risk collars. These arrangements are essentially the same as hourly billing, with one giant exception: risk collars align the interests of lawyers and clients. If work...
  • Blog Post: An Interesting Point in Support of AFAs

    Anthony Tijan's article in the Harvard Business Review about bundling services and goods goes on to make an intriguing point about Alternative Fee Arrangements (AFAs): "I remember receiving a legal bill that carefully showed the breakdown of all the expenses. As the buyer of these services...
  • Blog Post: In-house lawyers admit some resistance to alternative fee arrangements, but blast law firms, perhaps unfairly

    A survey of corporate lawyers conducted by Serengetti asked them to scale their own resistance to alternative fee arrangements (AFA) and their perception of law firm resistance to AFAs. On the scale given, a 1 means "no resistance"; a 3 presumably means moderate resistance; and a 5 a "great...
  • Blog Post: Legal Project Management (Part 6) – Budget problems and solutions

    Many lawyers believe that it is simply not possible to predict the costs of complex legal matters. As the managing partner of a firm with more than 1,000 lawyers put it in The LegalBizDev Survey of Alternative Fees : [Some] litigators say [a fixed fee] just doesn't work at all, because who knows...
  • Blog Post: More On The Reality of Alternative Fees

    During Jackson Lewis ' annual corporate counsel conference, as reported in The National Law Journal and on Law.com's Small Firm Business , alternative fees are "putting down deep roots." This got my attention, because although there has been much written about the subject including...