This article focuses on the end goal of implementing alternative fee arrangements ("AFAs"). Statistics show that more and more firms and in-house counsel are moving their work to some type of AFA, but yet not all of them have a firm understanding as to what they're trying to achieve. This article addresses three basic, attainable, targets that general counsel and law firm leaders alike should keep in mind as they implement and improve their AFAs: (1) reducing the client's total legal costs by a significant amount, (2) providing near-complete predictability in cost and process, and (3) significantly improving outcomes. <p/>This ACC Value Challenge resource is part 1 of a 3 part series. To view the other resources in this series, please click here:</p> <p class=><a id=CP___PAGEID=1365193| href=/legalresources/resource.cfm?show=1365193>ACC Value Challenge: Facing Up to the Challenge - Law Firm Metrics (Part 2)</a></p><p class=><a id=CP___PAGEID =1365213| href=/legalresources/resource.cfm?show=1365213>ACC Value Challenge: Facing Up to the Challenge - The Transition (Part 3)</a></p>
The job market is usually talked about as though it’s a single, uniform entity. What’s often overlooked is the fact that there are really two markets: one in which the general hiring outlook remains relatively weak, and another in which demand for educated, highly skilled professionals is strong.
The main objective of security of payment legislation operating in each state of Australia is to ensure continued cash flow to a contractor, even where there is an ongoing dispute about payment or a set-off claim by a principal.