Predictability, transparency, and control. In the wake of the recent economic turmoil, clients have strongly pushed this concept. While the legal industry has gone through a number of shake-ups, and some reactions to the market may be temporary, one concept clearly seems to have staying power: über-popular alternative fees arrangements.
Our firm, Reed Smith (www.reedsmith.com), has embraced alternate fee agreements, and we believe they are here to stay. We believe that firms that embrace this reality have, and will, build competitive advantage against the firms that have not.
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