Corporate legal departments can analyse alternative fee arrangements (AFAs) with the launch of a new platform.
TyMetrix 360 has announced a range of new additions to its platform which will give legal departments greater control and flexibility around the management and enforcement of alternative fee arrangements. Contingency, flat, capped and fixed fees all fall under this heading as does blended hourly rates, volume discount, matter based hourly rates and hybrid models.
Traditionally, corporate legal departments play defense, not offense. However, there is a recent trend that is turning tradition on its head and turning legal departments into profit centers. This trend does not suggest that legal departments should chase dollars indiscriminately. Rather, legal departments should be selective in the recoveries they choose to pursue, and resort to litigation only when necessary and cost-effective. Here’s how to effectively structure a thriving recovery program.
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