Why AFAs Are Key To The Future Of Legal Practice

Law360 (January 15, 2019, 6:27 PM EST) -- A few days after I embarked on my career in private practice, I attended a CLE on alternative fee arrangements. AFAs had just received a rousing recommendation from the American Bar Association, which opined that flat fee agreements represented the future of our profession.

My mentor at the time, who was already well into his third decade of legal practice, thought differently: “Companies always want the benefit of the bargain,” he said. “When the flat fee agreement costs the firm money, they don’t care, but when we make money, they suddenly want to change the deal.”

I was too inexperienced to...

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