Flat Fee: As Long As It Takes

This is one of a series of posts describing different fee arrangements offered by attorneys.

The flat fee is a method of billing used increasingly by lawyers in both small firms and big firms. It’s simple to understand for both sides- you pay this fee, and that’s it.

It’s a little more complicated to determine how exactly the fee is computed. Some firms will refer to this arrangement as “value billing,” in which the fee is determined by the amount of value that the lawyer can provide to you. Others will compute a flat fee by multiplying the number of hours they think it will take them to finish an issue and multiply by some hourly rate.
The good thing about flat fees is that they define a certain sum it will take to perform legal work. Just make sure that you specify exactly what kind of work you need done, so that you maximize the chances that you’re done with the finished product.