"Alternative fees actually can be more profitable, but they are more difficult to manage."
--- partner in a Walker Clark client law firm in North America
Clients are demanding new fee structures that better represent the value of the legal services that they receive.
But how can a law firm meet these demands and remain profitable?
The new demand for fees other than hourly rates is not a fad.
All of the evidence suggests strongly that it is part of a seismic shift in the relations between law firms and sophisticated purchasers of legal services.
Nor is it all bad.
Law firms that have introduced alternative fee structures the right way have discovered that the business discipline and attention to fee earner efficiency and productivity, which alternative fees require, actually improve profitability, while at the same time making the firm much more competitive.
Our members have been advising law firms and their corporate clients on alternative fees since the mid-1990s. We can help you to develop alternative fee structures for one case, for a practice area, or even for your entire firm. We also can help you to use your alternative fee structures to communicate better value to your best clients.