Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Law Firm Financials Law Firm Marketing and Business Development Lawyer Rates and Arrangements

Enabling Monetization of Non-Monetary Victories

This article proposes language to include in retainer agreements to enable the monetization of non-monetary victories and compensate attorneys for all their work on behalf of their contingency clients.

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

In a typical contingency fee arrangement, the successful attorney receives a percentage of “all sums recovered” by his or her client in a dispute or litigation. Oftentimes, this calculation is straightforward — the plaintiff recovers $X via settlement or verdict and the attorney takes a percentage of that recovery. But what about case-related victories that do not result in a direct recovery for the plaintiff, such as securing the dismissal of a counterclaim or obtaining declaratory or injunctive relief?

This premium content is locked for Accounting and Financial Planning for Law Firms subscribers only

Continue reading by getting
started with a subscription.

ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS FOR LAW FIRM LEADERS AND LEGAL OPS PROFESSIONALS.

Stay current on the latest information, rulings, and trends
All aspects of managing a law firm are covered
Tap into expert guidance

Subscribe Now For Unlimited Access

Already a have an account? Sign In Now

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Already a subscriber? Log In Now

Accounting & Financial Planning for Law Firms › October 2021 ›

Read These Next

Retirement Succession Can Hedge Against Lateral Partner Acquisition Risks

By David Wood

While growing by acquiring lateral partners and practice groups can be lucrative, it carries many risks. Lateral candidates’ projections of the revenue they will bring to a new firm can prove inaccurate, or a particular candidate may simply be a bad fit culturally.

Read More ›
The Impact of Gen X and Millennial Law Firm Leaders

By Marci Taylor

Generation X lawyers stand poised to wield considerable influence. Often the unsung heroes in discussions about generational dynamics, Gen X professionals bring a wealth of strengths to law firm leadership. Their pragmatic outlook, honed by navigating shifts in technology and societal changes, positions them as adaptable leaders.

Read More ›
It’s Time for Lawyers to Return to the Office 5 Days a Week

By J. Mark Santiago

It’s time for attorneys to return to the office on a five day a week schedule. There is significant evidence that shows remote learning is not as effective as in-person instruction.

Read More ›
Law Firms Eager to Increase Nonequity Tiers

By Andrew Maloney

Last year saw a ”staggering” jump in the number of law firm leaders who said they wanted to increase their nonequity tier going forward. Now it’s clear many of the biggest Big Law players are following through, with several Am Law 100 firms growing their income partner ranks by double-digit percentages in 2023.

Read More ›