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In an effort to pare down legal bills, Silicon Valley giant Cisco Systems Inc. is seeking to replace hourly billing rates from outside counsel with more creative -- and cheaper -- fee arrangements. The days of "blank checks are over," said Robert Barr, Cisco's vice president of intellectual property and worldwide patent counsel. Barr said Cisco would like to see fixed fees for a case and, where appropriate, variable incentive-based fees, such as $2 million if a firm loses a case and $4 million if it wins.
January 26, 2004 at 12:00 AM
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The original version of this story was published on Law.Com
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