Alternative Billing Arrangements
Some clients prefer a traditional billable-hour arrangement, paying an attorney a fixed hourly rate for each hour an attorney works. However, in today’s ever-changing legal marketplace, some matters are better suited for the evolving alternative compensation arrangements, including:
- Incentives that cause the hourly rate to decrease when a certain threshold is met.
- Fixed-fee arrangements.
- Contingency-fee arrangements, whereby an attorney is compensated if the client recovers damages in a lawsuit.
- Any other arrangement that makes economic sense for the client and the firm and that complies with the ethical rules.
For more information about Alternative Billing Arrangements, please contact Sheats and Muckleroy, LLP directly.