by Traverse Legal, reviewed by Enrico Schaefer - June 30, 2005 - 'The Greatest' Philosophy, Alternative Billing, The Billable Hour
One of my most successful billing models has been the flat rate with a achievement kicker on the back end. I bid out a particular project on a flat rate basis and then indicate to the client that the last twenty-five percent of the fee does not need t be paid unless certain goals or benchmarks are achieved. The client receives cost certainty, the client is also assured that their attorney has a stake in the outcome. I have achieved an excellent return on investment under this billing model. If the fee is charged on a flat rate, non-refundable basis, you do not have to place the fee in an IOLTA account. Instead, the fee is earned immediately.
As a founding partner of Traverse Legal, PLC, he has more than thirty years of experience as an attorney for both established companies and emerging start-ups. His extensive experience includes navigating technology law matters and complex litigation throughout the United States.
This page has been written, edited, and reviewed by a team of legal writers following our comprehensive editorial guidelines. This page was approved by attorney Enrico Schaefer, who has more than 20 years of legal experience as a practicing Business, IP, and Technology Law litigation attorney.
