Legal Practice

Equity or Cash: Temptation & Risk for Lawyers

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Sooner or later a startup lawyer will hear the suggestion that payment be postponed or waived in exchange for equity. What is the lawyer to do when the client cannot (or would rather not) pay and offers stock instead? On its face, taking equity looks like a practical solution. The client preserves cash, the lawyer … Read more

Alternatives to the Attorney Hourly Rate

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In the wake of the 2008 financial crisis, many law firms rethought their traditional billing practices. Clients, under financial pressure themselves, began to demand more value and predictability in their legal costs. This shift in client expectations, coupled with the rise of legal resources available online, led to the growing popularity of alternative fee agreements. … Read more