10 Tips Regarding Fixed-Fee Agreements

Law360, New York (December 11, 2009, 3:22 PM EST) -- Aristotle remarked that what we have to learn to do, we learn by doing. While this principle holds true in many contexts, it is particularly applicable to the use of alternative fee agreements.

For in-house counsel who are considering a transition away from the billable hour, the following 10 tips, gleaned from experience, will hopefully save you some of the headaches associated with Aristotle’s approach.

1) Determine whether a fixed-fee agreement is right for you.

A fixed-fee agreement is not the most appropriate fee structure for...
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