We are open to a variety of compensation methods. The methods include:
Traditional Hourly Rate. The majority of our work is done using the traditional method where we bill for time using an hourly rate. Each lawyer has an hourly-billing rate, and that rate multiplied by the number of hours spent, measured in tenths of an hour, is the basis for determining our fee.
Litigation Plan and Estimated Budget. Upon request, we can prepare a written Litigation Plan and Estimated Budget. This is a detailed document where we describe the claims, defenses and legal issues in your case, then divide your lawsuit into phases and endeavor to break out the various tasks required in each phase--and the estimated legal fees and costs. This can be a useful discussion tool for charting the course ahead.
Discount-For-Volume Hourly Method. In-house counsel and clients with a recurring need for legal services may opt for this method. We will agree in advance that once a client pays us a certain amount of fees in any given year, our hourly rate on all matters for that client is reduced for the remainder of that year.
Fixed or Flat Fee. We are paid a fixed sum in exchange for performing a specified task. We have done this for discrete projects and we have done it for a jury trial.
Contingent Fee. The client agrees to pay us a percentage of whatever the client recovers and to reimburse us for any out-of-pocket costs we advanced in the case. Contingent fees are not fixed by law and are negotiable between attorneys and client.
Hybrid Methods. Hybrid methods combine the hourly and contingent fee methods. While hybrid fee arrangements are most commonly used when we represent a company as a plaintiff, they can be used by defendants as well.
- For Plaintiff Clients: The client pays a reduced hourly-fee and agrees to also pay us a percentage of anything the client may recover. Clients like this method in large cases because the reduced hourly rate reduces their monthly cash outlay for legal services and the contingent-fee is triggered only if the client obtains a recovery from which our percentage is paid.
- For Defendant Clients: This method is sometimes appealing to business clients facing lawsuits that they know will require a large volume of legal work and hourly fees. The client pays a reduced hourly rate each month. If the client ends up having to pay the plaintiff less than a certain amount of money, thus resulting in a savings of what the client anticipated it might have to pay in settlement or judgment, the client pays our firm a percentage of that savings. These agreements require very clear definitions and we will only enter into them with clients who either have in-house counsel or other clients who can give us a written approval of the engagement from an independent lawyer of their choice.