Winning Alternatives to the Billable Hour, Third Edition Strategies That Work

ISBN-10: 1604421282

ISBN-13: 9781604421286

Edition: 3rd 2008

List price: $99.95
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Book details

List price: $99.95
Edition: 3rd
Copyright year: 2008
Publisher: American Bar Association
Publication date: 12/16/2008
Binding: Mixed Media
Pages: 175
Size: 7.00" wide x 9.75" long x 0.50" tall
Weight: 0.836

About the Authorsp. vii
Acknowledgmentsp. ix
Introductionp. xi
The Search for the Meaning of Valuep. 1
Lawyers and Clients: Perception Is Realityp. 1
Client Perceptions of Valuep. 2
What Is Value?p. 3
Conclusionp. 5
Ethical Rules and Practicesp. 7
The Basic Rulep. 7
The Golden Rulep. 9
Gray Areasp. 10
Prepaid Fees in Lawyer's Trust Accountp. 10
Fee Agreements in Writingp. 11
Mandatory Arbitrationp. 11
Business Interests Received in Paymentp. 12
Conflictsp. 13
Fee Sharingp. 13
Pricing Legal Servicesp. 15
Historical Influences on Pricing Legal Servicesp. 15
Pricing Before and After Batesp. 16
Constraints on the Marketplacep. 17
The Modern Focus on Valuep. 17
The Value Curvep. 19
Interpreting the Curvep. 21
Applications of the Curvep. 21
Implications of the Curvep. 23
Using the Value Curvep. 25
The Value Curve for Main Street Lawyersp. 26
Commodity Workp. 26
Brand Namep. 28
Experiential and Uniquep. 29
Major Issues Regarding Billing Methodsp. 30
Using Your Current Practice to Plan and Build a Billing Methodp. 33
Self-Assessment Checklistp. 33
Objectives and Goalsp. 34
Present and Future Market Trendsp. 34
Current Billing Methodsp. 35
Willingness to Try Innovative Billingp. 35
Determining Costp. 36
Retrospective Analysis of Cost as a Guidep. 36
Cost of Service Versus Value to the Clientp. 37
Knowing Costs Through Accountingp. 38
Costsp. 39
A Simple Exercise in Cost Accountingp. 40
Determining Cost to Produce a Package of Servicesp. 41
Task-Based Analysisp. 42
Examining Closed Files to Create Minisystems and Predict Feesp. 43
Recurring Variables or Uncertaintiesp. 44
Examining Profitability as It Relates to Billingp. 45
Factors for the Main Street Lawyerp. 47
Building Billing Methods for Main Street Lawyersp. 47
Dealing with Unsophisticated Clientsp. 47
The Pricing Structure Can Form the Basis of the Office Systemp. 50
I Cannot Do It at That Rate and Make Any Moneyp. 52
Conclusionp. 52
Technology and Alternative Billingp. 55
Technology and Client Valuep. 56
Technology and the Billing and Collection Processp. 58
Recording the Charges, Whether Time-Based or Task-Basedp. 59
Integrating Other Expenses and Payments Within the Statement and Firm's Recordsp. 61
Preparing a Statement for the Clientp. 62
Transmitting the Statement to the Clientp. 62
Receiving from the Client Either Payment or Requests for Clarification or Informationp. 63
Instituting Collection Efforts for Balances Not Timely Paidp. 63
Technology in Fee-Setting and Budgetsp. 65
Substantive Systems and Document Assemblyp. 66
Knowledge Management Toolsp. 67
Transaction Fees: Sharing the Costs (and Benefits) of Technologyp. 68
Collaborative Technologiesp. 69
Conclusionp. 70
Developing the Case Plan or Transaction Planp. 71
Why Should I Bother with a Plan?p. 71
Elements of the Case/Transaction Planp. 73
Preparing in Advancep. 74
Setting Client Goals and Expectationsp. 75
Determining Billing Methodsp. 76
Implementing Value-Based Billingp. 77
Value Billing and Profitabilityp. 78
Strategies for Profitable Value Billingp. 79
Seek a Higher Dollar Realizationp. 79
Raise the Value of Your Servicep. 79
Improve Qualityp. 80
Reduce the Cost per Unit of Servicep. 80
Use Technologyp. 81
Position on the Value Curvep. 81
Clients' Perception of Valuep. 82
Guaranteesp. 83
Change: How to Bring It Aboutp. 84
Case Study: Could This Happen in Your Office?p. 85
Arguments in Favor of Changing Billing Methodsp. 86
General Argumentsp. 86
Impediments to Changep. 88
Concerns of Corporate Counselp. 89
Conclusionp. 90
Evaluating Results of the Use of Alternative Billing Methodsp. 91
Review of Closed Filesp. 91
Client Auditsp. 93
Performance Evaluationp. 94
Profitability Analysisp. 94
Quality of Life and Quality of Work Productp. 94
Conclusionp. 96
Appendixp. 97
Fixed Fee Corporate Representationp. 107
Alternative Billing in Estate Planningp. 111
Fixed Annual Fee for Small Businessesp. 113
Virtual Law Officep. 117
Fixed Fee Loan Documents Makeoverp. 121
Flat Fee Transactional Practicep. 125
Moving to Value Pricingp. 129
Letter Giving Alternative Fee Options to Clientp. 131
Formal Fee Agreement (Hourly or Contingent)p. 135
Increased Hourly Rate for Negotiations; Contingent Fee if Litigation Is Requiredp. 145
Alternative Billing Proposal for Either Hourly Rates or Reduced Hourly Rates with a Contingency Fee if the Business Is Acquiredp. 149
Agreement for Fixed Fee Representation of a Bank for Major Collection Litigation with Bonus Clausep. 155
Fixed Fee Corporation Representation Service Election Formp. 161
Fixed Fee Retainer Agreement for Handling Insurance Defense Cases Based on a Prescribed Volume of Casesp. 163
Fee Agreement Incorporating Hourly, Fixed and Unit Fees for a Real Estate Development Projectp. 167
Indexp. 175
About the CDp. 187
Table of Contents provided by Ingram. All Rights Reserved.
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