New York Dispute Resolution Lawyer
Until now, the discussion of how to ethically monetize “the value added” that settlement savvy attorneys bring to the client has been one of the few remaining taboos that is rarely, candidly discussed among lawyers. How should settlement-proficient lawyers calculate the value of efficient, quality outcomes? How does a lawyer who bills by the hour ethically deal with the inherent conflict of interest between his desire to make as much money as he can and the economic disincentive to be settlement proficient? What are some creative billing incentives to more closely align the clients’ desire for contained legal costs with a lawyer’s desire to be fairly compensated for the value he adds for efficient, quality settlements? Especially during these constricted economic times, when consumers of legal services are scrutinizing more than ever the value of legal services, this conversation invites a timely re-consideration of different, more creative billing paradigms beyond the “hourly billing.”
Reprinted with permission from the New York State Bar Association.