Market Areas > Practice Management >Crafting Value-Based Alternative Fees

Crafting Value-Based Alternative Fees that are Practical and Profitable

Course Description:

By now, every lawyer on earth knows that corporate clients want budget certainty and value, and that hybrid/value driven fee arrangements are on the rise.  In fact, a recent survey showed that 51 percent of corporate counsel are now using some form of alternative fee arrangements.

Value and predictability make perfect sense for clients, but are these new fee arrangements really profitable for the firm?

CoursE highlights:

This comprehensive audio conference on CD explores the key profitability criteria that your firm should consider before entering into any fee arrangement, including: 

• Which data and details you should be tracking before you bill
• What and how to communicate with clients with regard to objectives, outcomes, and the bottom line
• How project management can streamline fee arrangements and pump up profits
• How the move from cost-plus business model (rates) to margin-based models (fees) effects profitability
• How to handle client requests for “ghost bills”
• Common profitability issues to consider when crafting fixed-fees, capped fee, project billing, incentive billing, modified contingency, hybrid arrangements and more
  
  

faculty:

Paul J. Skiermont, Partner, SKIERMONT PUCKETT LLP

Prior to forming SKIERMONT PUCKETT, Paul was a partner at Bartlit Beck Herman Palenchar & Scott, a nationally renowned litigation boutique known for its success in high-stakes cases. He has represented a number of international companies in litigation involving pharmaceuticals, aerospace, speech recognition, telecommunications and other technologies. Shortly before he and Don formed SKIERMONT PUCKETT, Paul was a key member of the legal team that prevailed in an alleged multi-billion dollar patent infringement lawsuit over the engines that power the A380 superjumbo aircraft, and also played a key role on the team that succeeded in the landmark antitrust class action involving the antibiotic Cipro. Skiermont was recently featured in a video interview on the Texas Lawyer’s video blog.  Paul was asked to discuss his firm’s innovative use of alternative fee arrangements.

Mary K Young, Consultant, Zeughauser Group

Mary K Young is one of the only legal industry strategists and marketing experts who bring a demonstrated track record of corporate strategy and branding success to her work developing and implementing strategic growth plans for law firms. Her experience spans the disciplines of strategic planning, market research, and branding. Since she joined Zeughauser Group in 2006, leading law firms have come to rely on her skills as a strategist who can craft powerful growth plans and branding programs that resonate with law firm clients.

Mary K established her reputation as a legal innovator during her tenure as chief marketing officer of Howrey LLP from 2000-2006. Partnering with firm leadership, she was instrumental in the firm's strategic planning initiatives and the integration of a major merger partner. She developed and launched new positioning and advertising for the firm and led the development of its new corporate identity. Between 2001 and 2004, as Howrey extended its footprint to London, Brussels, Amsterdam, and Paris, Mary K developed and implemented the strategic growth plans for each of those offices.

Earlier in her career, Mary K spent several years as a management consultant in Washington, D.C. She received her M.B.A. in 1987 and spent ten years at Kraft Foods in Glenview, IL, where she developed and implemented profit and revenue growth strategies for some of the company's most important products, including Philadelphia Brand Cream Cheese, Kraft Grated Parmesan, and Kraft Singles. As Category Business Director for Kraft Singles, Mary K led a team of 50 professionals and had strategy, revenue, and profit growth responsibility for the $870 million revenue business. She returned to Washington, D.C., in 1997 to serve as Senior Vice President of the Distilled Spirits Council of the United States where she was responsible for developing industry-wide strategy and positioning for the $34 billion distilled spirits industry.Mary K holds an M.B.A. from the Anderson School of Management at UCLA and an A.B. from Vassar College.

Zeughauser Group is the firm of choice for legal industry leaders seeking to increase competitive advantage and profitability, enhance market position, and strengthen organizational culture.

MONEY-BACK GUARANTEE:

We're so confident you'll get what you want out of this conference that we'll refund every penny if you're not completely satisfied. No questions asked! It's 100% risk-free!

Pricing:

Your CD recording includes the complete audio conference presentation, audience Q&A and presentation materials.

CLE:

C4CM provides audio conference attendees with CLE credit processing services. To expedite C4CM processing your CLE request, please complete and submit the evaluation form available from CCM at the conclusion of the audio conference. It will be necessary to enter the following information: name of each attorney requesting CLEs with full contact information, including e-mail address, bar number, and the state in which the attorney wants credits. Each attorney requesting credits must submit an evaluation.

Please be advised C4CM audio conferences are subject to approval from each CLE issuing organization and approval is not guaranteed (state bar associations in Delaware, Indiana, Kansas, Ohio, and Pennsylvania do not grant CLE credits for audio conferences). The approval process takes approximately 6 - 8 weeks for most organizations but can take as long as 3 - 4 months. You will be notified via e-mail with the final status of your CLE application.

Any person applying for CLE credits must attend the audio conference from start to finish (attendance will be taken for compliance reasons). Requests for CLE credits must be received no later than two weeks following the conclusion of the audio conference or live conference. CLE credits are not available for CD recordings.

If you have any questions regarding CLE credits, contact Jill Adler at 631.368.2082 x 21 or jill.adler@meeting-matters.com.

Each CCM event presents a variety of information and is presented for each organization to develop its own approach and methodology.