ILTA White Paper
The Business of Law
38
W
hile it would seem that fixed
fees and flat rates would
make cost recovery systems
unnecessary for law firms, it is
more likely that the opposite is
true. Corporate law departments may be requesting
fixed fees, but they are providing little insight into
how these arrangements should be priced. So, while
it may seem that cost recovery and fixed fees are
diametrically opposed –– "We don't need to keep
track of copies and faxes since we are now billing for
them as part of a fixed fee" –– in fact, keeping careful
track of these types of expenses is more necessary
than ever.
ShifTing The riSk
With a traditional billing model, law firms bill
their fees hourly and bill expenditures as they are
john gilbert nQueue billback
Are Alternative Fees the Death
Knell for Cost Recovery?
