Caution Required In Crafting Fixed-Fee Agreements

By Shannon Henson

Law360, New York (June 11, 2010, 12:28 PM ET) -- Fixed-fee arrangements are one of the most popular alternative billing models and the foundation of many other models. But to stave off a billing disaster, fixed-fee deals have to be well-defined and provide an opportunity for renegotiation to protect both sides from getting burned, lawyers and legal consultants said.

Fixed fees, like all alternative fee models, work best if the firm and client communicate regularly and trust one another. But to really work, consultants and lawyers said, it is imperative that the agreement allow for reconciliation...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles