Arguments Against Fixed Fees, And Why They're Myths

Law360, New York (August 13, 2010, 5:06 PM EDT) -- As Kathy Young hung up the phone, she felt a huge smile creep across her face. Excitedly, she hurried to the office of her mentor, Harry Oldman, the managing partner of her firm. He was on the phone, but made it clear through his pantomime that he was glad to see her, and that she should wait a minute for him to finish. As Kathy waited, that minute seemed like hours.

Kathy, a freshly promoted partner, had just gotten off the phone with the general counsel...
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