Legal Fees

13 Feb 2012 by in Legal Counsel
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Our charge is based on the following style:

Hourly Rates

Hourly rates are the most common arrangement. Under this arrangement, the attorney gets paid an agreed-upon hourly rate for the hours worked on a client's case or matter until it's resolved.

It depends on each attorney's experience, operating expenses, and the location of our lawyers' practice. Cheaper isn't necessarily better when it comes to your legal protection. A more expensive lawyer with a lot of experience may be able to handle a complex problem more quickly. Also, an experienced attorney will be able to better estimate how many lawyer hours a particular matter will take to resolve.

Flat Fees

Where a legal matter is simple and well-defined, lawyers typically charge a flat fee. Examples of flat fee matters include wills, uncontested divorces and simple bankruptcy filings. If an attorney suggests or has advertised a flat fee, be sure you understand exactly what that fee will and will not cover. The flat fee might not include expenses such as filing fees.

Retainer Fee

A retainer fee is typically, but not always, an advance payment on the hourly rate for a specific case. The lawyer puts the retainer in a special trust account and deducts from that account the cost of services as they accrue. During the course of legal representation, clients should review periodic billing statements reflecting amounts deducted from the retainer.

Most retainers are non-refundable unless labeled "unreasonable" by a court. If you decide to drop a case that your lawyer has worked on before the retainer has been exhausted, you may forfeit the remainder.

Contingent Fees

In certain types of cases, attorneys work on a contingent fee basis. Contingent means that the attorney takes no fee from the client up-front, but gets a percentage typically one-third (1/3) of the settlement or money upon judgment. Contingent fee arrangements are typical for:

• Plaintiff's counsel in automobile accident lawsuits
• Medical malpractice 
• Other personal injury cases
• Debt collection cases.

Fixed Fee vs. Contingent Fee vs. Hourly Billing

The advantage of a fixed fee is that the attorney fees are quoted before starting the legal project. That is, the client knows the attorney fees before deciding to start the work and can budget appropriately. Usually, fixed fees are provided to create patent, copyright, and trademark rights. Also, fixed fees are used for most form agreements and software licenses. To quote a fixed fee, the client and I first discuss the specific circumstances and review documentation to determine the scope.

The advantage of a contingent fee is that legal fees are only paid if a desired legal result is achieved. For example, when negotiating a license agreement, attorney fees would be paid if the deal closes (sort of like paying real estate agent’s percentage commission). Before accepting a case on a contingent fee, I meet with the client and review thoroughly.

Finally, the client always has the option of hourly billing, which may be used for open-ended legal work when the effort can not be predicted. Usually, litigation and enforcement of intellectual property is billable hourly. Currently, my hourly rate is $250.

We have to remind you that we charge according to your particular situation and the amount of your disputes. Please consult our Beijing lawyer to assess your case and propose a price of our legal service.

Read 47650 times Last modified on Monday, 12 March 2012 02:28
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1 comment

  • Comment Link Joey Joey 12 March 2012

    Sounds good, but You didn't mention what is your hourly rate

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