In an effort to keep cash-strapped clients in the fold, Kirkland & Ellis is expanding its use of alternative-fee arrangements, discounting rates and extracting promises of future work from corporate players. During the past three years, the firm says it has given away more than $100 million worth of billable hours, but it hopes to make the revenue back through follow-up work from those clients. Kirkland is the largest firm by revenue or head count making the most of such arrangements, says one consultant.
Kirkland Expands Use of Special Fee Structures
The National Law Journal
June 15, 2009