Firms, Clients Urged To Break New Fee Ground Through Trust
Law360, Las Vegas (May 14, 2019, 10:35 PM EDT) -- To experiment with and adopt new initiatives such as alternative fee arrangements, in-house legal departments and law firms must form trusting relationships that develop mutual confidence and transparency, a panel of legal professionals said Tuesday.
Altman Weil Inc. last year found that less than 25% of firms said they were effectively collaborating with their clients, according a presentation on the first day of the Corporate Legal Operations Consortium's annual conference in Las Vegas.
While firms have tried implementing alternative fee arrangements, or AFAs, some clients are hesitant to believe they promote cost certainty and effectiveness for both parties, said Melissa Prince,...
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