Is time up for the hourly rate? Client attitudes to billing arrangements in commercial disputes
Our independently-conducted research reveals growing interest across Europe in finding new ways to pay for legal advice in high-value disputes. In particular, it showed a widespread desire to move away from the familiar hourly rate model.
Companies are looking to law firms to provide budget certainty before a case starts; and senior executives and their legal teams increasingly feel it is fair that law firms share in the litigation risk. Alternative fee arrangements in disputes are being expected by more and more companies.
We interviewed 80 large companies across six countries in Europe on how they procure expert legal services and what they might like to change. The focus was on contentious work. The results offer fascinating insights, and reveal trends and disagreements across the region.