Asked: Our weekly question to the In-House community
An article in Corporate Counsel discusses general counsels’ opinions of alternative fee arrangements.
A study by ALM Legal Intelligence found that the number of in-house legal departments using alternative fee arrangements has slowly risen since 2008 while the billable hour has been on the decline. Only 26 percent of legal departments like the arrangements, however, the study found.
Many think that the alternatives are not a huge hit because departments have not acclimated to them yet.
“For corporate counsel,” one legal counsel told Corporate Counsel, “the easiest route is to have an hourly rate, and to get into an AFA takes effort at the beginning.”
So, here’s our question for you:
Has your legal department discussed alternative fee arrangements, and, if so, what has the discussion centered around and what are the pros and cons of such arrangements?
Leave a comment below or email me.
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