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HOW WE BILL

WE OFFER A SUCCESS BASED BILLING MODEL

Praxidice approaches every client’s litigation matter with one goal – to win. We recognize, however, that winning is defined differently in each case, and that winning cannot be an "at all cost" proposition for most clients.

The underlying premise of any fair alternative fee is one by which the more risk the attorney assumes in the event of a bad outcome, the more reward the attorney should receive for obtaining a good outcome. The types of alternative fees arrangements that might be suitable in any particular case are as limitless as the imagination. Some of the common arrangements we structure with clients are described here, but we encourage you to speak with us about any ideas or proposals you may have.

CLICK ANY ALTERNATIVE FEE TYPE BELOW FOR MORE DETAILS

OUR ALTERNATIVE FEE OPTIONS

Whether our client is a large multinational corporation involved in high stakes “bet the company” litigation or an individual involved in their first lawsuit, our clients rely on our proven track record for assurance that they will receive tempered and strategic negotiations in the board room paired with passionate and zealous advocacy in the courtroom.

CONTINGENT FEE

A pure contingent fee arrangement is the most traditional form of alternative fee in which our firm receives a fixed or scaled percentage of any recovery we obtain for the client. Typically, the client pays the expenses of litigation, however we are willing to discuss sharing some of those expenses in certain cases. Standard contingency fees range from 30 to 45 percent. Contingency fees allow those with limited resources to pursue litigation that may otherwise be cost prohibitive while providing protection against a bad result for clients who are willing to forgo a large portion of a positive result.

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Mighty Hover

DEFENSE (OR REVERSE) CONTINGENCY FEE

A reverse contingency fee can be utilized where a client is a defendant in litigation. The client’s potential liability sets the benchmark exposure, with our fee calculated as a portion or percentage of the savings we achieve for the client. Because our fee is tied directly to the client’s ultimate success, the client can remain confident that it has a diligent and zealous advocate on its team.

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Mighty Hover

FIXED FEE

Fixed fees or flat fee arrangements are where we agree to handle a matter or a discrete amount of work for a set sum or for a certain rate of payment per month. Fixed fees can be subject to an overall cap paid up front, or they can be for a fixed amount per month without a cap. Clients who desire budgeting certainty often find fixed fee arrangements attractive.

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Mighty Hover

PHASED FEE

Phased fee arrangements allow the client and firm to enter separate fee arrangements for each discrete phase of a lawsuit. Different types of fee arrangements can be negotiated for each phase of the case. Large or complex litigation, or matters in which the potential course of a lawsuit is difficult to anticipate, often benefit from unbundling by giving the client better predictability of the cost for each component part of a case.

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Mighty Hover

FLAT FEE WITH SHARED SAVINGS

A flat fee with shared savings, also known as a risk collar, provides for the sharing of cost savings and cost overruns with clients. Typically, a litigation budget is established with the client’s participation. If the budget is exceeded, the client might pay only half of the excess fees, with the firm absorbing half of any overage. Similarly, any savings under budget that we achieve for the client are shared equally. Because we assume financial risk and losses associated with any cost overruns, we are incentivized to work efficiently while the client enjoys the predictability of cost containment.

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Mighty Hover

PERFORMANCE (OR SUCCESS) FEE

Success fees establish a performance bonus that the firm receives in addition to its base fee if the result meets agreed-upon criteria, thereby incentivizing the firm to obtain a positive result for our client. The performance award can be defined in any number of ways, such as a percentage of the fees saved below budget, a multiple of the discounted fees, or a specified dollar amount. Success similarly can be defined in various ways, such as time of disposition (for example, dismissal or settlement by a specified date), type of disposition (summary judgment, voluntary dismissal), a settlement or award obtained above/below pre-defined sums, disposition before fees and costs reach a specified level, and the like.

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Mighty Hover

REVERSE FEE (OR HOLDBACK)

A reserve fee, used in conjunction with hourly or other billing methods, is a form of performance fee used to incentivize a certain outcome. An agreed percentage (often 20%) of the total fee is paid by the client but held back from the firm in the client’s trust account. If a successful outcome is achieved, we receive a multiple of the holdback or an agreed upon success fee; otherwise, the holdback monies are released to the client. This fee structure is often used in defense cases, or where the result sought is not monetary.

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Mighty Hover

CAPPED FEE

Capped fees limit the total cost of an agreed-upon amount of work. It is often used in conjunction with an hourly rate arrangement. By example, we may agree that our fee for the initial phase of a matter will not exceed $50,000. Thereafter, client and law firm agree to additional “not-to-exceed” fees for each subsequent phase of work. This fee model helps clients predict maximum costs and shifts financial risks to us. It provides a degree of predictability for clients who prefer hourly billing.

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Mighty Hover

BLENDED FEE

A blended fee sets an agreed upon hourly rate that applies to all lawyers working on a matter, regardless of seniority. It is often the average rate of all persons assigned to a case. For clients who prefer hourly billing, blended fee arrangements provide assurance to a client that the firm and its staff are incentivized to work more efficiently.

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Mighty Hover

CONTINGENT
FEE

Mighty Hover

DEFENSE
(OR REVERSE) CONTINGENCY
FEE

Mighty Hover

FIXED
FEE

Mighty Hover

PHASED
FEE

Mighty Hover

FLAT FEE
WITH SHARED
SAVINGS

Mighty Hover

PERFORMANCE
(OR SUCCESS)
FEE

Mighty Hover

REVERSE FEE
(OR HOLDBACK)

Mighty Hover

CAPPED
FEE

Mighty Hover

BLENDED
FEE

Mighty Hover

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DOWNLOAD ALTERNATIVE FEE'S FLYER

Mighty Hover

CASE STUDIES: ALTERNATIVE FEE SOLUTIONS

Mighty Hover

SOME OF OUR RECENT CASES

Mighty Hover

"Wow. The jury was mesmerized by you. The paralegal with the other firm was sitting there just
sobbing during your opening statement. I couldn't believe it. You were absolutely amazing."

"Brilliant! The other side never even anticipated our strategy.
Thank you for your masterful handling of these difficult negotiations."

"Pete, I want to take a minute and thank you for everything. We appreciate your help so much.
It was awesome to see you in action. We never expected such great results."

"Thank you so much for all you have done over the years. You are a joy to work with and exceedingly competent in
the ways of the law. If the occasion arises to recommend a lawyer, you will be at the very top of the list."

"I lost everything, including all hope, until I was referred to you. I don't know where I
would be today without you. Thank you, thank you, thank you."

"Thank you so much for all your great work on this deal. I really value your friendship and consider
you to be the tops of your profession. There's no one better than you, in my opinion."

"Congratulations on settling our case. I want to thank you for the excelled services you provided us.
Clearly, your hard work, research and legal expertise paid off in resolving the situation.
I am certainly grateful that Paul Rudnick referred us to you! Thank you!"

"Thank you so much! I could not be more pleased with your exceptional handling of this very complex matter."

CLIENT TESTIMONIALS

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The choice of a lawyer is an important decision and should not be based solely upon advertisements.
Past results afford no guarantee of future results. Every case is different and must be judged on its own merits.

* COLORADO DOES NOT CERTIFY LAWYERS AS SPECIALISTS IN ANY FIELD

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HOW WE BILL

WE OFFER A SUCCESS BASED BILLING MODEL

OUR ALTERNATIVE FEE OPTIONS

CONTINGENT FEE

DEFENSE (OR REVERSE) CONTINGENCY FEE

FIXED FEE

PHASED FEE

FLAT FEE WITH SHARED SAVINGS

PERFORMANCE (OR SUCCESS) FEE

REVERSE FEE (OR HOLDBACK)

CAPPED FEE

BLENDED FEE

CONTINGENTFEE

DEFENSE(OR REVERSE) CONTINGENCYFEE

FIXEDFEE

PHASEDFEE

FLAT FEEWITH SHAREDSAVINGS

PERFORMANCE(OR SUCCESS)FEE

REVERSE FEE(OR HOLDBACK)

CAPPEDFEE

BLENDEDFEE

CONTINGENT
FEE

DEFENSE
(OR REVERSE) CONTINGENCY
FEE

FIXED
FEE

PHASED
FEE

FLAT FEE
WITH SHARED
SAVINGS

PERFORMANCE
(OR SUCCESS)
FEE

REVERSE FEE
(OR HOLDBACK)

CAPPED
FEE

BLENDED
FEE