#alternative-fee-arrangements

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Law
fromAbove the Law
3 days ago

AFAs Are Great - But They Won't Stop AI Disruption - Above the Law

Adopting AFAs alone will not prevent AI-driven economic disruption; firms must redesign legal service delivery and pricing instead of merely replacing hourly billing with flat fees.
Law
fromAbove the Law
3 weeks ago

'Adventures In Legal Tech': Mastering Practice Management At Your Firm - Above the Law

Implementing a practice management system and modern legal tech, including AI-powered tools and billing alternatives, is essential for scalable, efficient growing law firms.
Law
fromAbove the Law
1 month ago

BigHand's Pricing And Budgeting Survey: A Wake-Up Call And An Opportunity - Above the Law

Clients increasingly demand budgets, financial transparency, AFAs, and technology-driven efficiencies, but most law firms fail to consistently provide budgets or ongoing budget updates.
fromABA Journal
2 months ago

Striking the Balance: How to make alternative fee arrangements work for everyone

Many corporate legal departments and law firms have gone "all in" on alternative fee arrangements, while others have chosen not to adopt them at all. After more than a decade in common use, only an average of 23% of legal work is performed under an AFA despite wide acknowledgement of their benefits. Why does this divide exist? It's not just about financial risk but also execution. The main benefit of implementing AFAs into legal operations is that it simplifies legal billing by shifting the focus from hours worked to value delivered. However, many organizations unintentionally introduce complexities that diminish their effectiveness.
Law
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