1 / 5

Fixed pricing for legal services

Fixed pricing for legal services. Stanislav Roth. Hourly rates. * Source: ACLA/CLANZ Legal Department Benchmarking Report 2010. Fixed fees. * Source: ACLA/CLANZ Legal Department Benchmarking Report 2010. Pricing for legal services today. Hourly rate still dominates

janina
Download Presentation

Fixed pricing for legal services

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Fixed pricing for legal services Stanislav Roth

  2. Hourly rates * Source: ACLA/CLANZ Legal Department Benchmarking Report 2010

  3. Fixed fees * Source: ACLA/CLANZ Legal Department Benchmarking Report 2010

  4. Pricing for legal services today • Hourly rate still dominates • Growing (but not sustained) pressure on law firms to offer alternatives • No major law firms have seriously committed to alternative pricing or changing their business model/mentality • Emergence of strong alternative models: • Fixed fee/retainer for any work • Placing senior lawyers at clients (in-sourcing) • Low cost/fixed price legal process outsourcing (LPO)

  5. 5 Golden rules for fixed pricing • Start with placing yourself in client’s place – what would I be happy to pay for the service? • Consider other factors – size of client, value of project, urgency, competition, opportunity for repeat business, time the work may take • Come up with the price based on 1 and 2 • Consider whether the price in point 3 works for you (cost, profit) • Run your price by a trusted colleague and/or consult your instinct.

More Related