Business Law News 2021, Issue 1
- Annual Update of Alternative Dispute Resolution Cases and Legislation
- Business Law News Editorial Team
- BUSINESS LAW NEWS Table of Contents
- Executive Committee: Message From the Chair
- Executive Committee of the Business Law Section 2020-2021
- Health Law Committee Legislative Health Care Update and Overview of CMS Rules and Waivers for Covid-19 - Part 2
- Marino II: Ninth Circuit Lacked Jurisdiction to Review BAP's Decision on Contempt Sanctions For Discharge Injunction Violation and Affirmed Bap's Denial of Appellate Fees
- Message From the Editor
- Recent Developments Affecting Insolvency and Commercial Finance in California and the Ninth Circuit - Part 2
- Standing Committee Officers of the Business Law Section 2020-2021
- Tricks and Traps For Lawyers With IRS Form 1099
- B-Law B-Law B-Law: Ethics for Business Lawyers Flat Fee Engagements
B-Law B-Law B-Law: Ethics for Business Lawyers Flat Fee Engagements
Neil J Wertlieb
Neil J Wertlieb, the author of this article, is a Founding Member and Co-Chair of the California Lawyers Association Ethics Committee. Mr. Wertlieb is an experienced transactional lawyer, educator, and ethicist, who provides expert witness services in disputes involving business transactions and corporate governance, and in cases involving attorney malpractice and attorney ethics. For additional information, please visit www.WertliebLaw.com. The views expressed herein are his own.
This edition of B-Law B-Law B-Law addresses the ethical constraints on lawyers charging a flat fee for legal services, and provides some practical guidance on entering into such fee agreements. Continue to watch this column for guidance on ethical issues of particular interest to business lawyers in the State of California.
Although business lawyers usually charge clients for their services on an hourly basis, sometimes, based on the nature of the assignment and/or the needs of the client, lawyers will charge a flat (or fixed) fee for specified services. Such a flat fee is a fixed amount, charged by a lawyer and agreed to by the client, that constitutes payment in full for the performance by the lawyer of such specified servicesâregardless of the amount of work ultimately required to complete the task. Flat fees provide a benefit to the client by managing expectations and cost uncertainty.