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Tag Archives: alternative fees

Survey: More Business Likely For Regional Firms

Posted in Legal Fees, Marketing Tips

While one recent survey says that “reducing spending (with outside law firms) is a top priority for corporate legal departments”, another says that regional firms may be in position to gain more work over BigLaw. Both surveys were reported by Law360, the newswire for business lawyers. Last week Robert Half Legal’s 10th Future Law Office… Continue Reading

More On The Reality of Alternative Fees

Posted in Legal Fees, Marketing Tips

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 on this blog, it hasn’t seemed that alternative fees were catching on all… Continue Reading

Is Widespread Use of Alternative Fees Still a Long Way Off?

Posted in Marketing Plans, Marketing Tips

According to a feature article in this month’s InsideCounsel one consultant who helps clients structure alternative fee arrangements "estimates that only about 2% of total legal billings currently are being done on alternative basis – but he contends it’s an increasing trend." That certainly isn’t a surprise. He goes on to say "I’d expect that… Continue Reading

Are You Offering Alternative Fees Yet?

Posted in Marketing Tips

Don’t get left behind. My colleague Jim Hassett has talked extensively about alternative fees over on his Legal Business Development blog for months. Jim conducted interviews this year between June and September with many high level people at 37 of the AmLaw 100 law firms. He will publish his survey report next month. You can… Continue Reading

Offer Fixed Fees NOW!

Posted in Marketing Tips

For those who rushed out this past weekend to take advantage of the “Cash for Clunkers” program (like my son), now it is time to rush to offer fixed fees. According to a front page story in today’s Wall Street Journal the “’Billable Hour’ (is) Under Attack,” and more and more companies are demanding fixed… Continue Reading

Now Is The Time To Consider Alternative Fees

Posted in Legal Fees, Marketing Tips

Evan Chesler, presiding partner at Cravath, Swaine & Moore shocked a lot of people within the legal community with his recent opinion piece on Forbes.com advocating the death of the billable hour. Basically, he states that the billable hour “makes no sense.” Making more money by dragging out a matter (or in his analogy, making… Continue Reading

Now is the Time for Creative Billing to Gain More Clients

Posted in Marketing Tips

A number of companies (such as Burger King and AT&T) are scrutinizing the billable hour due the pressure to reduce legal costs, especially  in light of the down economy. Accordingly, they are looking at alternative billing methods they, including fee caps, blended rates, discounts, fixed fees, monthly retainers, success fees, and contingency fees. This is… Continue Reading

Fee Consternation from Corporate Counsel

Posted in Legal Fees, Marketing Tips

At the Legal Marketing Association annual meeting last month in LA, the chairperson and the general counsel of the Association of Corporate Counsel, along with two other members on their panel, let law firm marketers know how they felt about the increasing rates and associated legal costs of outside counsel. According to a post by… Continue Reading

Has Your Firm Tamed That Damn Billable Hour Yet?

Posted in Marketing Tips

Thanks to a reader, I was alerted to an article entitled “Taming the Billable Beast” by David Gialanella in the February issue of the ABA Journal.  The article discusses how three firms are doing just that. How? you many ask: Harrison & Ford out of Atlanta has eliminated the billable hour requirements for first year associates, AND… Continue Reading