Optima Law Group Blog

Legal Trends – Rising Hourly Fees

Optima Law Group is pleased to introduce a new series on legal trends. We will examine current trends in the industry and how our firm is dealing with them and innovating for the benefit of our clients. We recently ran across an interesting article that addresses legal hourly legal fees, which just keep increasing.

Despite efforts by corporate clients to curtail legal expenses over the past decade, rates continue to steadily rise at many of the nation’s BigLaw firms. According to a recent article by the ABA Journal, a number of attorneys now have billing rates of as much as a whopping $1,500 per hour. Only five years ago, a billing rate of $1,000 rate was unheard of, yet firms just keep raising rates each and every year.

Optima Law Group strives to keep our rates competitive and to innovate billing practices in a number of ways:

  • Our firm operates in a semi-virtual environment, which greatly reduces our overhead costs. We pass this savings along to our clients.
  • We offer all-inclusive flat-fee arrangements, which ultimately reduce surprises and provides ultimate predictability to our clients.
  • We offer flexible payment plans to our clients.
  • We are always upfront with cost estimates for our clients, which provides them with cost predictability.
  • We often cap project fees for our clients.
  • We offer strategic pricing plans to save our clients significant money. For example, we offer patent portfolio maintenance (for companies with 100s of patents) for a reasonable, customized monthly fee.
  • Our team is always flexible and moves quickly to complete assignments, which saves our clients time and money.
  • Our firm is geared towards working with entrepreneurial clients, so we work within a not a one-size-fits-all nature.