Filed In News

Alternative Fee Arrangements Continue to Grow

by Editors on April 10, 2012

Is your law department using alternative fee arrangements?

With apologies to Mark Twain for the butchered paraphrase: Reports of the billable hour’s death have been greatly exaggerated. But fixed fees and other alternative billing arrangements are indeed slowly eroding hourly billing’s dominion over the $100 billion global corporate legal market.

[via: Watch Out, Billable Hour: Alternative Fee Arrangements Continue to Grow at the WSJ Law Blog]

{ 1 comment… read it below or add one }

Jeff Hodge April 11, 2012 at 8:45 am

Are fixed fees really an alternative fee arrangement or simply an imposed budget which should be in place in any case? Without knowing more about how AFAs are developed (E.g. using historical data to understand alternatives) and how often these are modified, it’s difficult to know whether these are truly informed AFAs or simply an attempt to fix a cost – in other words, a budget. I’d offer that budgets are not AFAs.

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