Are You Ready To Succeed In The New Legal Economy?

Law firms need to respond to client demands by becoming more adept at selecting the appropriate fee arrangement.

Today’s business environment is challenging for law firms. Clients want to curb their legal spending. They are dissatisfied with the billable hour and are looking for alternative fee arrangements to add predictability and stability to their fees. Law firms need to respond to this demand by becoming more adept at selecting the appropriate fee arrangement. Attorneys need to understand the difference between capped, blended, flat, and collared fees, and the types of matters that are well-suited to each. They also need to find ways to work smarter to ensure financial success in the absence of the billable hour.

Practical Law’s Litigation service has resources to help attorneys select and implement the correct fee arrangement and maintain profitability through increased efficiency. For example, to:

Attorneys can use our Practice Notes, which are in-depth reviews of a legal topic or task, to get up-to-speed on a broad variety of issues. Our Standard Documents are sample pleadings, motions, and agreements that contain helpful drafting notes and can be customized for use in an individual matter, and our Checklists let counsel take a step back and make sure that they have considered all of the necessary elements of the task. To see how these resources work together to assist counsel with a particular task, check out Practical Law’s Settlement Tactics in US Litigation, Settlement Agreement and Release, and Settlement Agreement Drafting Issues Checklist.

Practical Law helps attorneys complete their work in less time than otherwise possible, enhance profitability with an alternative fee arrangement, and conserve more of their time and energy for business development and retention efforts.

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