The Lawyer's Guide to AFAs and Value Pricing

Alternative fee arrangements are now a recognised aspect of legal work and many clients now expect firms to offer them.

But many lawyers still lack the skills to negotiate and manage AFAs in a way that benefits both parties, and the risk of losing clients to firms skilled in this area increases as alternative fees becomes more mainstream.

This report provides practical guidance to help lawyers adapt to client demands for AFAs and offers and offers expert advice in negotiating and managing AFAs and value fees.

Specifically, this report tackles how to :

• Determine, develop and implement coherent pricing strategies
• Negotiate fees and deliver value to clients and in-house lawyers
• Establish the value of services and how to commoditize qualities such as experience and reputation
• Maintain client satisfaction and acceptance of fee arrangements.

This new report features contributions and insight from the professions most prominent thought leaders in this area, including:

• Chris Howe – Consultant, Raedbora Consulting Ltd.
• Julious P.Smith Jr. – Chairman emeritus, Williams Mullen
• Joel A. Rose – President, Joel A Rose & Associates, Inc.
• Toby Brown - Director of Strategic Pricing & Analytics, Akin Gump
• Vincent Cordo - JR. Global Director Client Value, Reed Smith LLP
• Steven Lauer – Principal, Lauer & Associates
• Michael Roach – CEO, KermaPartners
• Patrick J. Lamb - Founding Member, Valorem Law Group
• Barbara Boake – Partner, McCarthy Tetrault
• Rick Kathuria - National Director, Project Management Office and Legal Logistics at Gowling Lafleur Henderson LLP
• Sally Dyson – Director, Firm Sense Limited
• Ori Wiener – Partner and Director at Møller PSF Group
• David H. Freeman, J.D. – CEO, David Freeman Consulting Group
• Paul Williams – Partner, Shook, Hardy & Bacon

The Lawyer's Guide to AFAs and Value Pricing covers topics including:

• Understanding the key elements of pricing innovation
• Overcoming the resistance to change
• Using AFA’s as a profitability driver
• Key considerations for pricing strategies
• Designing objective oriented fee arrangements
• Implementing a rigorous rate-setting methodology
• Linking project management to pricing strategies
• The risk of alternative fees and how to avoid them
• Examples of successful appropriate fee arrangements
• And much more….

The Lawyer's Guide to AFAs and Value Pricing also features case studies from the likes of Pfizer, CMS Cameron McKenna, FMC Technologies, and Tyco International that highlight best practices in aligning your interests and the needs of your clients in order to create long-lasting, and successful, relationships.