Every once in a while, I’ll dive into my web traffic statistics and see something really interesting. Sometimes, search terms which bring people to our primary law firm web site are funny. Other times, I am filled with a sense of pride to come up number one in the search results. Check out these Google search results for “flat fee general counsel services” in which our law firm comes back number one. For start-up, small and rapid growth companies, a flat fee approach to providing services makes a lot of sense. How, you ask? Simple. You simply define what is and is not included in the flat fee amount. The client is encouraged to use you as aggressively as possible on these issues. It is the lawyer’s responsibility to ensure that the client receives value. Instead of waiting for the call, the attorney actually reaches out to the client on specific issues.
Advantages of this approach are numerous. Perhaps the most important from the client perspective is the ability to budget for legal services. The client also budgets for continual identification of new projects and is able to proactively engage in risk reduction.
From the lawyer’s perspective, the client commits to a flat fee arrangement providing revenue certainty and strength of relationship. Plus, it is a whole lot of fun to be able to provide continual services to a client on a value basis. You wake up in the morning thinking about how best to help your client and how to prioritize those items based on ROI.