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Whenever
practical, we prefer to do transactional work on a fixed fee quote
basis. Here
is our philosophy on why we do business this way.
One of the functions of most contracts is the allocation of risks
between the parties. When each side accepts responsibility for those
risks it is best able to control... the total amount of risk to
be born by all minimized.
One
risk all clients face when hiring a lawyer on an hourly basis, is
the risk of cost overruns. Clients are less able than their lawyers
to look out ahead to see where and how costs can get out of control.
We've
done enough deals to accept and manage the risk of cost overruns
without really putting ourselves at much risk. If it isn't a lot
of risk for us, and we can mange the risk, why shift the risk to
the client?
We've
developed a methodology for doing this. We typically start with
a short consultation to assess the situation. We then quote a fee
for developing a deal sheet (a map of the deal that permits a business
person to sit back and see all the moving parts).
Once
we develop the deal sheet we can typically identify segments of
a transaction and give fixed cost quotes for those segments.
We've
even developed specific formulas for the following types of partnering
agreements that have been published as the "CPI Legal Fee Guidelines
for Key Partnering Agreements": Deal Sheets, Marketing Agreements,
Distribution Agreements, License Agreements, Technology Agreements,
Manufacturing Agreements, Supply Agreements, Outsourcing Agreements,
Facilities Management Agreements, Guarantees, Letters of Credit,
Proprietary Rights Agreements, employee and non-employee non-compete
agreements,
We
know what we are doing and are sure-footed about doing it. We can
keep your costs low and predictable without putting ourselves at
risk. If you need help, contact us and ask how we may help.
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