Alternative Billing in Litigation: Issues of Risk and Reward

, New York Law Journal

   |1 Comments

Ed Poll, a principal of LawBiz Management, writes that in litigation, the simplest way to reward lawyers for having "skin in the game" is through contingency fees. But more sophisticated techniques are possible in corporate dispute resolution when lawyers and clients become partners in planning each specific matter. The sharing of the risk is based on the outcome, and that is based on communication right from the start, an appropriate early case assessment, and budgeting.

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What's being said

  • The Last Honest Lawyer

    Ed:

    This is a very helpful article for clients looking to save significant amounts of money AND receive better results. If followed - and real and open communication is brought to the table by client and firm - the firm will be incentivized to truly perform. And while this may result in some outsourcing (lost profits to the firm) - satisfied and well served clients remain repeat customers. I discussed a similar point of view on mutual communication and fair pricing at http://wp.me/p2oxY6-3B (via Richard Burcher of Validatum.) Good stuff.

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