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Business aspects of lawyer-client fee agreements
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Business aspects of lawyer-client fee agreements
Table of Contents for legal fees book
Sun, 2015-02-15 20:45 —
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Overview of different types of lawyer-client fee agreements
General comment on financial incentives for lawyers under fee agreements
Hourly rate lawyer-client fee agreements
Retainer amount / agreement
Incentives under hourly rate fee structure
Billing all time spent, and the dreaded 0.1
Obligation on the lawyer to keep the client informed of costs
Considerations for defendants paying hourly fees
Considerations for plaintiffs paying hourly fees
Flat fee agreements between lawyer and client
Contingency fee agreements between lawyers and plaintiffs
Plaintiff lawyer’s incentive to settle cases
Judicial acknowledgement of moral hazard under contingency fee agreements
Social utility of contingency fee agreements (no recovery no fee)
Risk of contingency fee agreements (no recovery no fee) justify higher lawyer fees
Conclusion regarding contingency fee (no recovery no fee) agreements
Hybrid fee agreements between lawyers and plaintiffs
Bonus billing by lawyer must be expressly agreed to by client
Model wording for hybrid fee agreement between lawyer and plaintiff
Conclusion and summary of benefits of hybrid fee agreements between lawyer and client
‹ Business aspects of lawyer-client fee agreements
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Overview of different types of lawyer-client fee agreements ›
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