The practice of law has been evolving, albeit slowly. In the last decade, law firms have been distancing themselves from the billable hour, but is this a trend that is here to stay? As clients demand more value, certainty and transparency in fee structure, what options will the profession offer and at what pace?
In 2008, Valorem Law Group opened its doors with a vision of changing the legal landscape with the use of alternative fee arrangements (AFAs). Nearly ten years later, one of its founding partners will examine whether the vision was accurate or simply a hallucination, and what the next 10 years might bring.