Alternative fee arrangements are here to stay.
Position | BRIEFLY LEGAL - Brief article |
The law firm equivalent of the "four-letter word"--AFAs (alternative fee arrangements)--is the subject of a new study by ALM Legal Intelligence (ALI). The current study, which came out in April 2013, evaluated the use of alternative fee arrangements by "BigLaw," as well as in-house law departments, based on a survey conducted by ALI. According to the report, the survey concluded that nearly 95 percent of law firms and roughly 87 percent of in-house law departments admit to using AFAs. Half the law firms and 42 percent of in- house law departments said they embraced AFAs. The other half of...
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