Leading law firms fear that fixed-fee deals struck to win highly competitive business have become a significant risk to profitability, according to new research.A Sweet & Maxwell survey of finance directors at top 100 UK law firms found that cost overruns on fixed-fee deals are seen as a risk to profitability by 36% of respondents, a sharp rise on a similar poll in 2007 when just 5% cited the issue.
February 28, 2008 at 12:38 AM
1 minute read
The original version of this story was published on Legalweek
Leading law firms fear that fixed-fee deals struck to win highly competitive business have become a significant risk to profitability, according to new research.
A Sweet & Maxwell survey of finance directors at top 100 UK law firms found that cost overruns on fixed-fee deals are seen as a risk to profitability by 36% of respondents, a sharp rise on a similar poll in 2007 when just 5% cited the issue.
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