Alternative Fee Arrangements: an Idea Whose Time Has Come?
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چکیده
In this new legal economy, many clients have begun to reexamine the concept of alternative fee arrangements (“AFAs”) as an alternative to the billable hour model of legal services. A survey conducted by the Association of Corporate Counsel in 2008 found that 60% of general counsel and chief legal officers believed that the best way for outside counsel to improve relations would be to offer more alternative billing arrangements.1 Moreover, 77% of those surveyed wanted to increase the percentage of their respective businesses’ spending on legal services which consisted of alternative fee arrangements.2
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