Contingent Fees, Portfolio Risk and Competition – Calls for Reform
In theory, contingent fee pricing is an elegant way of providing access to justice at a fair and reasonable price. In this column, I try to look at both theory and practice and also at prospects for reform.
Time and materials
Let’s start with a different approach to pricing. Legal work can be done on a “time and materials” basis (to use language from another industry), on a fixed fee basis or on a contingent fee basis. These different approaches shift risk between suppliers and consumers of legal services.
Legal work is still largely priced on a “time and materials” . . . [more]


