The new Fulbright and Jaworski Litigation Trend Report is out and has some interesting numbers. (FJ) Of note are the following:
- The use of alternative fee arrangements declined from 61 percent last year to 51 percent this year, however...
- Fixed Fee arrangements are rated, by far, the most effective of all types of alternative fee arrangements. (Fixed Fee arrangements were rated Very Effective by 46% of participants, and Effective by 36% of participants.)
- 76 percent of participants were satisfied with the quality of work provided under alternative fee arrangements.
There are also separate breakdowns by industry. The financial services industry results also yield some insights. (FJ-Financial)
- Only 34 percent of financial services firms are using alternative fee arrangements, however, as above,
- 69 percent of those firms are satisfied with the quality of work provided under the alternative fee arrangements