Survey shows lawyers are dissatisfied with alternative fee arrangements
A new survey by by ALM Legal Intelligence shows that the use of alternative fee arrangements has been slowly rising, lawyers’ fees are slowly dropping, and just 26 per cent of legal department respondents and 11 percent of law firms said they were "very satisfied" with alternative fee arrangements.
Kris Satkunas, director of analytic consulting at LexisNexis CounselLink, which sponsored the study, says that the cause of lawyer dissatisfaction with alternative fee arrangements is that firms and legal departments have not done a proper analysis of what the arrangements are doing for them. Satkunas’ company offers software and services to measure the benefits of such arrangements.
The survey included participants from 194 large US law firms and 141 US law departments.
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