In a recent article, Roy Strom explores the growing reluctance among large law firms to embrace contingency fee cases, despite the potential for larger payouts. Big Law firms are known for their hourly billing model, sometimes charging clients as much as $2,000 per hour. This business model ensures steady revenue, but it also limits the potential returns, as earnings are tied to billable hours rather than case outcomes.
Why the Hesitation?
While the hourly model provides financial stability, it also caps a firm’s returns based on how much time lawyers can log. To overcome this limitation and compete with the profitability of corporate practices, a few firms have ventured into contingency fee cases, where fees are earned only if the client wins. Kirkland & Ellis is one example of a firm that has expanded into plaintiff-side work over the past five years.
However, many firms remain hesitant, as contingency cases introduce an element of risk—if the case is unsuccessful, they don’t earn any fees. This shift in approach requires firms to reconsider their traditional business models and embrace a higher level of uncertainty.
A Different Approach at Taborns
At Taborns, we understand that the high fees associated with Big Law firms can be off-putting, especially for clients who are concerned about the financial burden. We offer complimentary professional services that align with the same high standards of law firms, but allow our clients access to a range of services in one easily accessible place.
While contingency fee arrangements may not be suitable for every case, we believe in providing flexible, transparent solutions that align with our clients’ needs. We take the time to assess each case individually and offer tailored options that allow our clients to focus on what matters most—achieving the best possible outcomes.
This allows our clients to access a range of services in one place, meaning they can concentrate on more complex and strategic matters
Looking Forward
As the legal landscape continues to evolve, we may see more large firms experimenting with alternative fee structures to meet the changing demands of the market. At Taborns, we remain committed to providing cost-effective professional services without compromising on quality or professionalism and complement the clients we work with. The growing conversation around contingency fees reflects an important shift in the industry, one that could redefine how legal services are delivered in the future.
For a deeper dive into the discussion, you can read Roy Strom’s original article here.
Let us know your thoughts on how contingency fees might impact the future of legal practice and your own approach to legal services