Monday, April 27, 2009

One Idea About Alternative Fee Agreements

From Alternative Fee Agreements Presentation at IACCM Americas Conference Touted by Supply Excellence
Justin noted that:

To capture some of that spend and have better legal representation, Jason recommends negotiating “incentives that motivate people to do better”. Meaning, structure your relationship with outside counsel so that there are either caps on fees for specific, clearly defined projects OR include “efficiency bonuses” that reward the firm for coming in under budget.

Couldn’t have said it better myself.

Even if you do not call me to represent you, ask your potential lawyer about whether they use alternative fees.