Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Alternative Fee Arrangements
Although in-house counsel have been talking about Alternative Fee Agreements (AFA) for years, there has been little traction. Even in some conferences, counsel say they would rather have hours billed to them than work under an AFA. Clients know business risks, but lawyers tend to be risk-averse. Is the old business model still around because lawyers don't want the to assume risk? Is it because in-house counsel have vested interest in their structure to audit billable hours? Is it because they want to be able to ask for a discount on the hourly rates to prove they are getting a deal? Switching to a responsibly run alternative fee agreement will not only reduce the risk to the real client, but will motivate lawyers to be more responsible and much more efficient. Both the clients and the lawyers serving them can win.
The legal profession's business model has reached the end times. The old “hours times rate equals value” is disappearing at an accelerating rate. The tipping point has been reached. If law firms and in-house counsel are paying attention to books like Implementing Value Billing by Ronald J. Baker and publications like “The New Normal,” published in “Legal Rebels,” which you can see from time to time in ABA e-mails, the trend is evident. In the last six months, I have seen seven articles with examples on AFA. Is this the tipping point? Yes! Now is the time for the lawyer to prepare for the coming of AFA and create the infrastructure to deal with the implications of managing matters. Before AFA becomes the normal, in-house counsel and outside counsel must begin to test their delivery of service processes, matter budgeting, and project management.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Warehouse Liability: Know Before You Stow!
As consumers continue to shift purchasing and consumption habits in the aftermath of the pandemic, manufacturers are increasingly reliant on third-party logistics and warehousing to ensure their products timely reach the market.