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Attorneys have traditionally been paid by billing their clients for hours worked. For some matters, a traditional billable-hour arrangement works. But as a business philosophy, Balderson Law PLLC is of the opinion that most types of matters lend themselves to alternative compensation arrangements that do a better job of aligning a client's interests with a lawyer's interests, including: |
Fixed-fee arrangements, especially for outside-general-counsel clients; Contingency-fee arrangements (a part of a client's recovery) in litigation, especially business matters; Hybrid arrangements (a modest hourly rate and a modest contingency); A reverse-contingency arrangement (a part of the difference between the amount of a client's exposure and the amount paid, if any, through settlement or judgment); and Whatever other arrangement squares with ethical rules and makes economic sense for the client and the firm. |