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Billable Hours Frustrate In-House Attorneys, So Why Aren't They Demanding Alternatives?
Legal consultants and pricing experts for years have advised legal departments frustrated with ever-rising outside counsel fees to unshackle themselves from paying hourly rates and instead negotiate alternative fee arrangements (AFAs).
The benefits can be substantial, the experts say. For example, paying a law firm a set amount for handling a matter, or making some fees contingent on a successful outcome, can give legal departments cost transparency and predictability.
In short, the various arrangements help establish a link between outside counsel costs and the value provided.
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