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Alternative Billing in Litigation: Issues of Risk and Reward
Ed Poll, a principal of LawBiz Management, writes that in litigation, the simplest way to reward lawyers for having “skin in the game” is through contingency fees. But more sophisticated techniques are possible in corporate dispute resolution when lawyers and clients become partners in planning each specific matter. The sharing of the risk is based on the outcome, and that is based on communication right from the start, an appropriate early case assessment, and budgeting.
