Klingman Law is a strong proponent of alternative fee agreements, because we never want a small business to leave money on the table by foregoing litigation out of a misplaced fear of expensive hourly billing. When properly designed, such alternative arrangements reflect an overarching goal — aligning interests so that we have “skin in the game,” ensuring that your counsel shares in the risks and rewards of bringing a legal claim.
While some matters may justify a straight contingency agreement, in which all attorney fees are advanced and their payment is contingent on recovery, more often the most appropriate fee arrangement will be a flat fee or a fee cap with a success bonus or contingent component. Other creative fee structures are also available. For other, non-litigation work, a monthly retainer or a fixed project-based fee is likely a better option.