b”Hybrid Fee Agreements
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Given the difficult economic times a business can endure, it is important to understand the different fee agreements available to businesses that need an attorney. One of the more novel approaches is a hybrid fee agreement.
A hybrid agreement is when a part of the clients legal costs are paid paid on an agreed upon contingent fee, and the rest of the costs and fees are incurred at a greatly reduced hourly rate.
Any out of pocket expenses, which typically include litigation costs, deposition costs, filing fees, and expert fees are usually the responsibility of the client.
Rarely are the terms of a hybrid fee arrangement identical to the terms of another agreement with a different client. The arrangement depends on the difficulty, expense, likelihood of success and time required to successfully prosecute the case.
The terms need to be concisely detailed in the attorney-client fee agreement or contract prior to the law firm beginning commencing any work on the case. The agreement/contract is required to be be signed by the lawyer and the client, indicating that both parties agree to the terms.
If youre trying to control your legal costs, you may want to consider hiring an attorney that offers various fee arrangements. The attorneys of Heselmeyer Zinda, PLLC offer a variety of billing and payment options to accommodate their clients, including:
Our attorneys provide business and contingency representation to small, medium and large businesses. Our business law practice includes legal advice and representation in a range of commercial law matters, including Oil & Gas Law, Contingency Cases, Contract Disputes and Business Formation.
You have worked hard for your business don’t you deserve a law firm that will do the same? Contact us today for a Free Consultation about your Texas business law issue.”
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