Alternative Fee Arrangements
Let the attorneys of Nexsen Pruet guide you to the most suitable billing structure based on your financial priorities and legal objectives.
Pay an agreed-upon monthly fee for a specific scope of work. Monthly retainers can be established annually and realigned each year against new targets.
Representative Engagements: General Counseling, Government Affairs, Public Policy Matters
Fixed & Portfolio Deals
Bring predictability to legal costs with a fixed fee for a single project or a portfolio fee for a series of projects where the firm is engaged to represent the client in a number of matters.
Representative Engagements: Corporate Transactions, Real Estate Transactions
Structure results-oriented fee arrangements depending on the perceived merits of the case and magnitude of the claim, in addition to other factors. Typically, the firm agrees to perform services at a reduced hourly rate with a "success fee" or bonus paid upon the achievement of a predefined result.
- Issue: Patent Litigation
- Structure: Firm receives a percentage of hourly rate with the opportunity to recover additional fees at various percentages based on predetermined settlement ranges.
Enter into a performance structure and pay a percentage of the firm's standard rates in intervals during the pendency of the matter. Afterward, assess the firm's performance and determine the remaining compensation.
- Issue: Litigation Defense
- Structure: Firm receives 80% of standard rate with additional fees determined upon client's assessment of the firm's performance against predetermined criteria established by the client and Nexsen Pruet.
Compensate the firm based on an hourly billing structure where the same hourly rate applies to all timekeepers or varying rates are used for partners, associates and paralegals.
- Issue: Active Litigation
- Structure: One blended rate for attorneys and another for paralegals.
- Issue: Toxic Tort Litigation
- Structure: Separate blended rates for partners, associates and paralegals.
Compensate the firm through an arrangement where the firm is paid a fee only if a certain result is achieved. Agree upon a range of results and associated fees prior to structuring the agreement.
Representative Engagements: Resolution of a significant loan servicer contract dispute. Resolution of disputes regarding the maintenance of staffing requirements in skilled nursing centers.
Pay a periodic fee based on the estimated volume of work needed over a specific period of time. At the end of the predetermined time period, the actual fees are reviewed. If the work falls within an agreed-upon range "the "collar"), no adjustments are made. If the work is done for less than the predetermined fee, the firm is rewarded. If the fees exceed the target, the firm gets paid, but at a discounted rate. This limits the scope of the client's expected legal fees.
Representative Engagements: Fixed fee structure for a major trade organization that includes a collar arrangement, where monthly retainer fees are adjusted annually if the amount of the fee in the prior year is more or less than 10% of standard rates.
Questions? Contact us:
Howard Janis, COO
Nexsen Pruet is an AM Law 200 Firm with more than 200 professionals in eight offices providing regional capabilities with international strengths.