Matt Homann’s blog, the [non]billable hour indirectly inspired my own approach to flat fees and value billing. He was one of the keynote speakers at Minnesota CLE’s “Strategic Solutions for Solo and Small Firms” conference in Duluth this week. Yesterday, he sat down with me to share some tips for the “suddenly solo”—attorneys who get laid off from law firms during the economic slump—and for lawyers just starting their law firm careers.
Sam Glover is a business and consumer rights lawyer and the creator of Lawyerist.
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The great thing about fixed-fee billing is that you can structure the engagement agreement so that the fees go straight into your operating account instead of your IOLA. The wrinkle is that if you make any sort of a money-back guarantee, the fees may not be earned despite any language in the engagement agreement.