Perspective
Sep. 1, 2009
Trusts and Funds
All alternative fees require a comfortable relationship of trust between the outside lawyer and client, where value, not profitability, takes precedence, writes Oleg Cross.
Disdain for the billable hour - expressed by both clients and lawyers - has lingered for years. Many have wondered whether the current downturn will provide the necessary impetus for change, and the rise of alternative, value-based fees. And while many law firms and clients have expressed a willingness to try new fee arrangements, most are still hesitant. After all, the devil you know is better than the one you do not. Hesitation notwithstan...
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