Legal Times: Does McKenna Long & Aldridge use alternative fees much?
Joanne Zimolzak: We have an entire committee devoted to alternative fee arrangements. When an alternative fee arrangement comes in, it is submitted to the committee for vetting and approval. We have done a variety of [alternative fee] arrangements. It can be a situation where you would have a 20 percent reduction in fees contingent upon a certain result and if you get the result you could get restoration of the fees and perhaps a success fee on top of that. Some of them are more of a straight discount situation. [In] another scenario you might have a certain rate up to a certain dollar amount that would be tied to your budget. And then the rate could vary from there depending on how accurate your predictions are.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]