In a recent article in The Legal Intelligencer, titled “Litigation Increasing Along With Need for Price Certainty,” Craig D. Mills, co-chair of Buchanan Ingersoll & Rooney’s Litigation Section, discusses the increase in clients’ preference for alternative fee arrangements. Mills describes how it used to be normal for litigators to simply cut their hourly rates to help alleviate their clients’ concerns with costs. Now, he offers clients a range of pricing options with each pitch.
"I've probably done more flat-fee cases or engagements ... in 2014 than I did in the five years before that," says Mills. “Lawyers have been pushed to the point where you really can't lower your hourly rates." "So you have to come up with another way that delivers value and helps you retain the business."
Read the full article – “Litigation Increasing Along With Need for Price Certainty” (The Legal Intelligencer, July 22, 2014)