A Primer On Alternative Fee Arrangements

Law360, New York (September 14, 2012, 12:29 PM EDT) -- In response to recent economic instability in the United States, the legal industry (like many industries) has experienced widespread change in the landscape in which business is conducted. Increasingly, in an effort to cut costs, law firms are finding that many of their clients are moving more legal matters in-house rather than employing outside counsel. Others, however, are rethinking the way their outside counsel bill for services rendered, specifically by instituting fee caps or other alternative fee arrangements (“AFA”).

As discussed in this article, these changes...
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