Overview of Our Law Firm’s Pricing
At the outset of every engagement, we work with you to align our fees for legal services with your objectives. We utilize fee arrangements that provide value and predictability, including:
- Value pricing
- Competitive hourly fees
- Contingent fees
We will provide you with a full monthly statement describing the work performed and the costs incurred to date, and the remainder of your retainer.
Value Pricing for Legal Fees
Value pricing describes a pricing model in which fees are set based on the value of the work done for the client. Value pricing is set before the work begins so that you know upfront how much you will pay. Glade Voogt Lord & Smith offers value pricing as one alternative to legal fees. Here is how value pricing works:
- You provide the attorney information about your matter, including the facts and your goals for the representation.
- The attorney develops a scope of work and gives you a customized, fixed fee before representation begins.
- As long as the scope of work does not change due to unexpected circumstances, this fixed fee is the amount you can expect to pay.
The value pricing model allows you to weigh the costs of legal representation against the benefits and to make an informed decision about how to proceed with your legal matter. It also encourages robust communication between attorney and client, because you are not “on the clock” for every e-mail or telephone call.
Competitive Hourly Fees
Our primary goal is to provide you the best possible legal services at the best possible rate. Oftentimes, utilizing our competitive hourly fee arrangement makes the most sense for your matter.
We will consider taking cases on a contingent fee basis, in certain circumstances. A contingent fee means that we are not paid a fee for our work unless you recover from the defendant in a settlement or after a trial. If you recover, we are paid a percentage of that recovery out of the money awarded to you. If you lose, neither you or the attorney will get any money. However, you must pay all costs of the case including court costs, deposition costs, expert witness fees and other out of pocket costs regardless of the outcome, and whether or not a recovery is obtained for you.
Monthly Fixed Price Retainer Agreements
We act as outside general counsel for clients for a monthly fixed price. We are available to provide cost-effective advice as needed by our clients. In consultation with you, we will establish a recurring fixed monthly price for this service. The amount of the monthly fee will depend upon the nature of your business and current circumstances.