More privately and publicly owned businesses are “shopping around” to retain high quality attorneys in smaller and midsized law firms — who are not necessarily the most expensive — as an alternative to referring all of their legal work requiring outside assistance to their “traditional” larger law firms.
Cost-conscious clients are less loyal to established law firm relationships. In addition to retaining individual attorneys in different firms to perform specific legal work, it is common for business and corporate clients to negotiate fees, seek volume discounts and for certain types of matters, to propose flat fees and contingency/risk forms of billing.
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