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

1h 1m

Created on June 08, 2017

Intermediate

$99

Overview

Practicing law is more competitive than ever and there are rumors that AI may be utilized for basic legal research and discovery. With the advent of technology and a lowered proclivity by clients to pay for time, law firms with traditional billing practices may find it difficult to compete. While blended rates can make the pain of exchanging time for money less painful, it may not go far enough. In some instances, attorneys may want to consider alternative billing arrangements. Join attorneys Rania Sedhom, Managing Partner and Ginger Mimier, Senior Associate of Sedhom Law Group, A Bespoke Law Firm as they illustrate the benefits of alternative fee arrangements (AFAs), ethical considerations in creating AFAs, and highlights from some successful alternative client relationships. The presentation explores the ever-increasing popularity of a still under-utilized approach to the practice of law. Learn how to create an AFA without running afoul of the ABA's ethical rules. Distinctions or parallels (as applicable) from New York and Massachusetts  are also explored.

Learning Objectives:

  1. Grasp the legal and business framework for sustainable and profitable AFAs
  2. Discuss the ABA rules that govern alternative fee arrangements
  3. Distinguish and draw parallels for New York and Massachusetts ethical rules
  4. Understand the most important ingredients to ethical alternative billing arrangements
  5. Examine alternative fee arrangements through real world examples of success (and failures)

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