The most prestigious law school admissions discussion board in the world.
|
 |
 
|
Solo law bros: how would u structure a fixed fee "outside general counsel" gig?
Poast new message in this thread
Date: March 10th, 2016 11:31 PM Author: lake mischievous meetinghouse i'm a solo doing tech/IP/entertainment law. company wants me to handle all partnership deals they potentially have for a fixed annual fee of 200k. how would you structure this so that they don't completely overwhelm me with work (as the more they use me, the better the deal gets for them)? i need to represent and develop other clients but they've described this proposed arrangement as an "outputs contract" (meaning i get all work within these areas of law, but i have to do all the work they dole out to me). (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30030630) |
 |
Date: March 10th, 2016 11:37 PM Author: cocky heady queen of the night They pay you 50% for every hour billed over 300k, 75% for every hour billed over 400k, 100% for every hour billed over 500k. You give back 125k under 75k. (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30030695) |
|
Date: March 10th, 2016 11:37 PM Author: adventurous amber office digit ratio He needs a floor and ceiling with extra pay for extra work over the ceiling. (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30030701) |
|
Date: March 11th, 2016 12:08 AM Author: lake mischievous meetinghouse (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30030919) |
Date: March 10th, 2016 11:32 PM Author: adventurous amber office digit ratio Are you happy to work 3000 hours a year for $200k? (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30030651) |
|
Date: March 10th, 2016 11:43 PM Author: lake mischievous meetinghouse no. i work 9-5 in-house w/ no weekends for 220k now. (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30030748) |
|
Date: March 10th, 2016 11:33 PM Author: nudist floppy spot Just get creative with it. Either a strict ceiling on how much work or a more flexible quarterly re-evaluation of the fee amount or some shit like that (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30030665) |
|
Date: March 10th, 2016 11:39 PM Author: lake mischievous meetinghouse would love to do a hard cap but not sure i can w/o running afoul of ethics rules, right? (like if a matter takes x hours, you can't leave them in the lurch with something less than x). i'd have to give them a fee schedule that accommodates any scenario. but maybe the 200k gives them up to x hours with add'l supplemental fees for any hours above that? (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30030718) |
|
Date: March 11th, 2016 12:13 AM Author: nudist floppy spot anything in excess of the cap charged at standard rate... you should already have some kind of provision that says anything outside the scope of this specific X kind of work is not covered and will need a new engagement letter. just add a sentence there that excess of hrly cap reverts to standard billing rate. could put some BS about how you will work in good faith to enter into a new engagement letter to reflect an increased fee but until then billed at hrly rate. personally i think the most elegant solution is just flexible shit where u revisit pricing every so often, but yeah have some CYA shit in there where u can bill standard rates if they go nuts on u (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30030952) |
|
Date: March 11th, 2016 12:46 AM Author: lake mischievous meetinghouse i have an engagement letter but his company gave me a "consulting services agreement + statement of work" to enter into instead. it obviously isn't tailored to legal services/representation. (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30031103) |
|
Date: March 10th, 2016 11:43 PM Author: Costumed liquid oxygen How'd you find this client? (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30030752) |
|
Date: March 10th, 2016 11:45 PM Author: lake mischievous meetinghouse former colleague (but not friend) got a sweet gig and respects my skillz. it might sound great but 200k for 80 hours/week of legal needs on a contract that can't be terminated without bar ethics implications would be killself territory. (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30030764) |
|
Date: March 11th, 2016 12:12 AM Author: silver therapy B-b-but bar ethics! Jfc you sound like a turd. You can withdraw rep if you can't adequately represent. But just put a fucking ceiling in the engagement letter like any intelligent person would and put language that should seek other counsel arrangements if they anticipate blasting the ceiling (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30030941) |
|
Date: March 11th, 2016 12:49 AM Author: trip mexican and put in language that allows you to bring in other counsel if you deem it necessary (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30031116) |
|
Date: March 11th, 2016 1:49 AM Author: lake mischievous meetinghouse at $200k/year there's not a lot of budget to hire ancillary help. (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#30031352) |
|
Date: November 18th, 2024 2:53 PM Author: ceci n'est pas un avocat (http://www.autoadmit.com/thread.php?thread_id=3160862&forum_id=2\u0026mark_id=5310486#48352820) |