Firms Need To Manage Risk In Contingency Deals

Law360, New York (June 16, 2010, 5:59 PM EDT) -- Under pressure from clients to drop their billing rates, corporate law firms are increasingly turning to the pricing model long favored by the plaintiffs bar. But industry experts warn that when it comes to working on contingency, winning isn't everything.

Contingency fee arrangements, as an alternative to the traditional billable hour, call for a law firm to pay the costs of a matter up front.

If the firm loses the case, it may walk away empty-handed; if it wins the case, it may grab a potentially...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.