Alternative Fee And Billing Arrangements: A Primer

Law360, New York (April 1, 2010, 11:27 AM EDT) -- The most significant current public discourse regarding law firm revenues is the increasing popularity of Alternative Fee (or Billing) Arrangements. The tide has even provided a generally accepted acronym of AFA.

These arrangements are aimed at destroying or at least seriously maiming the invidious hourly billing process, which economically incentivizes inefficiencies and subordinates a law firm’s economic interests to those of the client.

The hourly rate may be either dead, suffering a lingering death or in a simple state of somnolence, depending only on whether the...
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