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

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

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

What every lawyer needs to know about project management, Part 1 of 5
Posted on 24 Mar 2010 by Jim Hassett

This five-part series is an expanded version of an article I published last week on AmericanLawyer.com entitled "Teaching Lawyers How to Manage: Can It Improve the Bottom Line?" When I interviewed AmLaw 100 chairmen, senior partners and C... 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