ALTERNATIVE FEE ARRANGEMENTS
ALTERNATIVE FEE ARRANGEMENTS Several types of fee agreements are common in legal practice in Germany. Still the most widespread one is the traditional ‘billable hour’ (model 1); a modification of this is the ‘blended rate’ (model 2). In the hourly rate model, the client pays an hourly amount based on the seniority of the relevant […]
FRANKFURT-BASED START-UP LINTUM CLOSES ANOTHER FINANCING ROUND
FRANKFURT-BASED START-UP LINTUM CLOSES ANOTHER FINANCING ROUND Frankfurt-based legal tech start-up Lintum successfully closed its second financing round with BMH Beteiligungs-Managementgesellschaft Hessen mbH and leading figures from the German legal market in May 2021. Frankfurt-based legal tech start-up Lintum successfully closed its second financing round with BMH Beteiligungs-Managementgesellschaft Hessen mbH and leading figures from the […]
DIGITAL LEGAL PROCUREMENT – A TREND STILL GAINING STRENGTH POST-CORONA?
DIGITAL LEGAL PROCUREMENT – A TREND STILL GAINING STRENGTH POST-CORONA? What were the main effects of the 2008 financial crisis for legal departments of corporations in Germany? As a result of that profound economic crisis, Chief Financial Officers and General Counsels started rethinking their purchasing of legal services. Corporations increasingly understood that the cost of […]
ARE LAW FIRM PANELS AND AUCTION-BASED RFPS MUTUALLY EXCLUSIVE, AND DO PANELS DELIVER THE EXPECTED RESULTS?
ARE LAW FIRM PANELS AND AUCTION-BASED RFPS MUTUALLY EXCLUSIVE, AND DO PANELS DELIVER THE EXPECTED RESULTS? In recent years, a number of the largest German corporations have created so called ‘Panels of Law Firms’, ‘Preferred Law Firm Lists’ etc. in the hope to considerably reduce their legal spend (According to a survey published in 2015 […]
