DENVER, Colo. (PRWEB) September 19, 2016
Alternative fee arrangements (AFAs) are a hot topic in the legal community. Are the days of billable hours coming to an end?
One thing is certain, AFAs are here to stay, and the featured topic for a panel discussion Oct. 4 at Lewis Roca Rothgerber Christie LLP.
Hosted by Lewis Roca Rothgerber Christie and the Colorado Chapter of the Association of Corporate Counsel, “Alternative Fee Arrangements: Making Sense of the Options” will feature legal industry experts and in-house counsel with experience in structured fees.
Studies show a majority of corporate chief legal officers feel a disconnect between the billable hour system and the fee-based structure they would prefer. While some law firms are open to AFAs, others worry about impacts to the bottom line.
“AFAs generate much debate with in-house counsel and law firms. There are attorneys and firms that are more open to being creative with their service models, and others aren’t convinced there’s any benefit. So where does that leave the client?
“In our experience, when AFAs are properly constructed, they are a win-win for both the client and the firm,” says Mike Plachy, panel moderator and Litigation practice group leader at Lewis Roca Rothgerber Christie.
- Greg Clouser – Associate General Counsel, Red Robin International
- Jennifer Grafton – Chief Legal Officer and Chief Administrative Officer, Westmoreland Coal
- Kevin Posterro – Chief Financial Officer, Lewis Roca Rothgerber Christie LLP
- Karen Sanford – Senior Vice President & Chief Legal Counsel, Intrawest Resorts
Panelists will discuss what works and what doesn’t, the pros and the cons, and how other companies can work with law firms to develop fee structures and strategies that benefit both parties.
"It can be difficult for in-house and outside counsel to agree on an arrangement, but options do exist for structuring legal fees. The right arrangement creates predictability and fosters trust for both parties," explains Kevin Posterro, CFO at Lewis Roca Rothgerber Christie.
“Predictability benefits both the client and the firm. AFAs help clients manage risk and ever-tightening budgets, while law firms foster are able to demonstrate value and build long-term relationships,” says Posterro.
Registration is available through the ACC-Colorado website: http://www.acc.com/chapters/colo/.