Managed Costs through Incentive and Fixed Fee Agreements
Other law firms talk about fee caps and fixed fees. We use them.
Our confidence is based on our experience. We work within the agreed upon budgets until reaching an agreeable resolution. We can discuss several possible arrangements:
- Fee Caps or Fixed Fees. We itemize specified tasks and agree on an amount for each, such as bringing a motion for summary judgment. This ensures a mutual understanding on how the case will be handled. We never compromise our commitment to quality representation, even if the time required exceeds our agreed fee cap.
- Shared Risk or Incentive Fees. In the right cases, shared risk fee agreements provide assurance that we share similar financial risks and rewards. In addition to fostering a sense of financial partnership, it also diminishes any lingering concern about “milking the case” or “padding” of hourly fees. In the past, we have structured a shared risk fee by agreeing to an hourly fee that covers our costs, but provides little or no profit, for example, payment of only a percentage of the hourly fee. We receive a pre-negotiated success fee for our work if you receive payment as a result of our work.
- Contingent Fees. On a selective basis, we offer typical contingency fees to businesses.
- Budgeted Fees. We typically provide a budget for a case, highlighting possible significant fees and costs.
- Hourly Fees. Traditional hourly fee arrangements, particularly for short-term engagements.