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Budgeting and Negotiating Fees with Clients - A Lawyer's Guide (Paperback)
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Budgeting and Negotiating Fees with Clients - A Lawyer's Guide (Paperback)
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With legal fees coming under increasing scrutiny, all law firms,
whether they charge by the hour or operate alternative fee
arrangements (AFAs) will need to negotiate fees; be it a discount
to an hourly rate or a year-long fixed retainer. Budgeting and
negotiating skills will be needed by all fee earners with
responsibility for agreeing any fees or discounts. The more a firm
uses AFAs, the more important budgeting and negotiating becomes.
Budgeting and Negotiating Fees with Clients: A Lawyer's Guide is a
must-have handbook for individual lawyers, firm leaders and
directors of support services who are looking to tackle these
challenges head on at both an operational and a strategic level. It
provides: * Clear analysis of the increasing importance of
budgeting and negotiating fees for all firms whether they have
adopted AFAs or rely on hourly rates; * A step-by-step guide for
improving individual behaviour and firm-wide processes; and *
Practical tools for generating consistently profitable fee
structures. Supported by case studies from law firms and law firm
clients, along with input from other management consultants, this
report covers topics including: * Fee models adopted by law firms;
* How AFAs are intensifying the need for budgeting and negotiating
skills; * Alternative fees - risks and how to avoid them; *
Understanding law firm financial data - a prerequisite for
successful budgeting and negotiation; * Creating a realistic matter
budget; * An introduction to legal project management; * Overcoming
obstacles to negotiating fees effectively; * Managing the
negotiation process effectively; * Obtaining the desired fees and
structures; * Tips, tactics and tricks for negotiating; *
Developing a strategy for better budgeting and negotiating; *
Implementing change and embedding best practice; * Business tools
for budgeting, negotiating and client communication; * How to
operate value billing; and * Best practice law firm negotiation
from a client's perspective. This invaluable resource also includes
supporting checklists and templates to allow readers to start
putting the lessons learnt throughout the report into practice
immediately.
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