Alternative Fee Arrangements that Don't Run Afoul of the Ethical Rules

Expired

Program Number

31267

Program Date

2021-11-15

CLE Credits

This Program will discuss traditional vs. alternative billing arrangements from an ethical and business perspective. The recent pandemic has left several companies with large, complex problems and minimal budgets. Continuing to assist clients using a traditional $XX per hour protocols may prove challenging. There is a strong business case for offering alternative billing arrangements, if those arrangements are in line with the professional rules of conduct. Several law firms offer blended rates, but those arrangements are based on traditional practices of exchanging time for money. That type of relationship will likely be uncompetitive for firms dealing with companies that are not publicly traded. During the discussion, we will converse about the various value-based billing options such as collar fees, fixed fees, success fees, contingency fees and reduced or no fees in lieu of client equity and their inherent risks and advantages. In addition, the program will examine ABA Model Rules 1.5, 1.7, 1.8, 7.1 and 8.4 along with ABA Formal Opinion 00-418 and NYC Eth. Op. 2000-3. Rania V. Sedhom and Matthew Scott of Sedhom Law Group will help listeners understand the legal and business framework of alternative fee arrangements.