In these troubled economic times, fixed fees for particular legal matters have appeal both for law firms and their corporate clients. We - a former general counsel of a major company and a current co-managing partner of a major US law firm - strongly believe that this is an idea whose time has come. For in-house counsel facing tremendous budgetary pressures, the fixed fee addresses the problems caused by the hourly rate such as unpredictability, high costs divorced from actual value and, most importantly, the maddening law firm definition of 'productivity' - defined as more lawyers and more hours per matter.
September 01, 2009 at 12:45 AM
1 minute read
The original version of this story was published on Legalweek
As the recession shines the spotlight on legal spend, Ben Heineman and William Lee argue the case for scrapping hourly rates in favour of fixed fee arrangements
In these troubled economic times, fixed fees for particular legal matters have appeal both for law firms and their corporate clients.
Presented by BigVoodoo
Celebrate outstanding achievement in law firms, chambers, in-house legal departments and alternative business structures.
The African Legal Awards recognise exceptional achievement within Africa s legal community during a period of rapid change.
Law firms & in-house legal departments with a presence in the middle east celebrate outstanding achievement within the profession.
Atlanta s John Marshall Law School is seeking to hire one or more full-time, visiting Legal WritingInstructors to teach Legal Research, Anal...
Lower Manhattan firm seeks a premises liability litigator (i.e., depositions, SJ motions, and/or trials) with at least 3-6 years of experien...
Join the Mendocino County District Attorney s Office and work in Mendocino County home to redwoods, vineyards and picturesque coastline. ...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
