fromABA Journal
1 week agoStriking the Balance: How to make alternative fee arrangements work for everyone
Many corporate legal departments and law firms have gone "all in" on alternative fee arrangements, while others have chosen not to adopt them at all. After more than a decade in common use, only an average of 23% of legal work is performed under an AFA despite wide acknowledgement of their benefits. Why does this divide exist? It's not just about financial risk but also execution. The main benefit of implementing AFAs into legal operations is that it simplifies legal billing by shifting the focus from hours worked to value delivered. However, many organizations unintentionally introduce complexities that diminish their effectiveness.
Law
