Weil Gotshal's London arm rolls out range of alternative billing methods

News Article - 26/04/2013 : alternative billing structures, weil gotshal & manges, Finance

Weil Gotshal & Manges' City arm has introduced a menu of alternative billing methods as part of a push to offer its clients better value for money.

The US firm's London office has been actively promoting the use of alternative...

Legal Services Board to keep up pressure on SRA over ABS licences

News Article - 18/04/2013 : alternative billing structures, legal services board, SRA, Risk & Compliance

The Legal Services Board (LSB) is to keep the performance of the Solicitors Regulation Authority in issuing alternative business structure (ABS) licences under scrutiny, it has emerged.

Papers just released by the LSB show that in January...

Time nearly up for hourly billing as in-house lawyers ask firms to share risk

News Article - 16/04/2013 : alternative billing structures, hourly billing, risk, Finance, Risk & Compliance

There is a widespread desire to move away from the hourly rate model, according to a survey of in-house lawyers that found them wanting their external law firms to share risk.

Senior counsel at 80 international multi-million pound...

Saudi firm Bafakih embraces alternative billing with yearly subscription strategy

News Article - 19/01/2012 : alternative billing structures, bafakih & nassief, billing, saudi arabia, Finance, Finance

Saudi Arabian firm Bafakih & Nassief is introducing alternative billing structures by offering its clients unlimited advice in return for a one-off annual fee.

The Jeddah-based firm, which also has offices in Medina and the Saudi...

Microsoft cuts back legal budget by 15% due to recession

News Article - 19/01/2012 : alternative billing structures, billing, microsoft, recession, redundancies, Finance, Finance

Microsoft's legal department has seen its legal budget cut by 15% over the last 18 months, leading to a 5% reduction in headcount, according to the software giant's general counsel, Brad Smith.

Before the cuts, Microsoft's legal department...

Citigroup now using alternative fees for one third of all work

News Article - 19/01/2012 : alternative billing structures, billing, citigroup, Finance, Finance

Citigroup now manages nearly a third of its external legal work under alternative fee arrangements, according to the banking giant's general counsel, Michael Helfer.

Speaking at a panel debate last month, Citigroup's Helfer told a US...

Winston introduces technology-based fee monitor

News Article - 19/01/2012 : alternative billing structures, alternative fee arrangements, winston & strawn, Finance, Finance, Technology

In last week's column (11 January) we highlighted the moves being made by the Association of Corporate Counsel to improve the value for money its ­members receive from external law firms.

Now, from the other side of the fence, here is...