As more companies talk to their outside counsel about alternative fee arrangements, some law firms are ready with advisers who can offer guidance on how to do such deals. Sometimes these gurus are involved in pitches and take a leading role in negotiating with clients; other times they’re simply a sounding board for partners.
Alternative fee advisers aren’t new at most of the firms that have one, but requests for their knowledge have risen. Among the 587 GCs who responded to a survey conducted last fall by the Association of Corporate Counsel and The American Lawyer (a sibling publication of Corporate Counsel ), 39 percent said that the amount of money they paid under alternative fee arrangements increased in 2009. And 6 percent said that more than half of their legal spending was done under alt-fee deals.
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