Major Firms Eye Alternative Billing Options

Law360, New York (September 17, 2009, 7:15 PM EDT) -- In a sign that major law firms may be warming up to more flexible billing arrangements, O’Melveny & Myers LLP, Reed Smith LLP and Mayer Brown LLP are reportedly considering offering their clients alternative payment plans, including fixed-fee structures.

O’Melveny said it was looking to become “the leader in providing high-end legal services on a fixed-fee basis,” according to a confidential five-year strategic plan that was presented to the firm’s lawyers last month and was leaked to Above The Law on Wednesday.

The plan noted that...
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