Reid Collins & Tsai is committed to using innovative fee arrangements. For many years, our attorneys have worked hand in hand with clients to create fair and common sense fee arrangements tailored to the particular facts and circumstances of each case. These fee arrangements may involve contingency fees, discounted hourly fees, flat fees, or a combination of some or all of these options. Whereas most firms apply a “one size fits all” model to every case, we understand that every case and therefore every fee structure is unique.
Although there are cases in which the standard hourly fee model is the best option, we have found our alternative fee approach to be in even greater demand in the current economic climate. In fact, we have found that clients are tired of the economic conflict of interest that arises between lawyer and client in the hourly fee context, and we strive to avoid it wherever possible. We also just find it more rewarding both economically and professionally to bet on our own skills and abilities and to share the risks and rewards with our clients in what are sometimes bet-the-company cases.
In some of our most complex cases, which often involve tens or hundreds of millions of dollars in damages, our clients want a full workup and analysis of their claims before deciding whether to file a lawsuit and what fee arrangement makes sense for them. In these instances, we typically charge a flat fee for a complete factual and legal analysis of the claims, which provides the client with the necessary information to choose how to proceed.
In other cases where we are defending our clients against claims or counterclaims, or where our clients want to retain all of the potential upside of a victory, an hourly fee arrangement makes the most sense. Of course, as with our plaintiff side cases, there are ways to craft an arrangement on the defense side that creates a shared risk among the firm and the client, such as a success fee based on the client’s potential exposure in the lawsuit.
No matter the type of case or which side of the docket, we work with our clients to create a fee arrangement that makes the most sense for them based on the particular facts and circumstances of the case. After all, we believe in our clients and our cases, and we think our fee arrangements should reflect this outlook.
Prior results do not guarantee a similar outcome