Fee Foresight: Contingency Cases Important for Large Commercial Firms
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A big question for large Texas traditional civil law firms used to be whether they wanted to represent clients on a contingency fee basis. Now the question is: How many of those cases do they want to sign up?
“When I became managing partner, I began looking at this very issue,” said Emily Parker, who took the reins at Dallas’ Thompson & Knight in February 2012.
While contingency fee contracts long have been the province of solos and plaintiff law firms, defense-oriented Thompson & Knight has signed up clients on a contingency fee basis for decades, she noted.
“Our contingent fee inventory is slightly less than average. I think it’s less than 5 percent of our inventory, meaning our work in process,” Parker said, adding that she is looking into whether that relatively low percentage is happenstance or careful strategy on the part of her firm.
“I can say with some confidence that I don’t think we’re going to contract the percentage. The real question is whether to expand our investment and, if so, getting a complete buy-in as a strategy and establishing a process for doing that,” Parker said.
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