Firm taps into client frustration with fixed fee litigation

Law firm bolsters fixed-price services by adding predictable litigation pricing.

Firm taps into client frustration with fixed fee litigation
NewLaw firm Bespoke has added litigation to its range of fixed-price legal services.

Associate principal Ben Krasnostein said that while litigation is a difficult process to predict, the firm has heavily invested in the processes and mechanisms to be able accurately estimate costs, making the offering viable for the firm.

“We have a system where we draw on previous experience from various litigation matters,” he said.  “We analyse and draw on the variables and minutia inherent in these matters.  We then create a matrix based on our assessment of the current matter and out of that we’ll derive a price.”

Krasnostein said that not committing to something unrealistic too early is the key, and something the firm learnt from other similar offerings in the market.
He said that while the fixed fee doesn’t include barrister’s fees, many barristers are also happy to provide their services to the client at a fixed cost.

“Even though we can’t fix a barrister’s fee in advance, because we don’t know for example who we would even use, what we are finding is that barristers, and there are more and more of them, who are more than happy to jump on board with us on this offering.”

He said that creating a trusted relationship with a client is important and is largely the reason for the success of the fixed priced services the firm is offering, such as its fixed price M&A service launched earlier this year.

“We found that there’s a lot of traditional bricks and mortar firms out there who provide these services and they charge a fortune.  We thought and have found that there is a space in the market for us as very good litigators, to capture clients who aren’t necessarily cost sensitive, but who are fed up with never receiving a bill for a stage of a litigation matter that equates to what was originally estimated.”
 
 

Free newsletter

Subscribe to our FREE newsletter service and we’ll keep you up-to-date with the latest breaking news, cutting edge opinion, and expert analysis affecting both your business and the industry as whole.

Please enter your email address below and click on Sign Up for daily newsletters from Australasian Lawyer.

Recent articles & video

Mills Oakley welcomes three to partnership in major promotion round

Kingston Reid elevates two to partner

Eversheds Sutherland’s alternative legal and compliance services arm reaches the US

Trilby Misso Lawyers announces brand relaunch

Over 50% of UK chambers don’t expect to last six to 12 months, Bar Council study finds

Clayton Utz rings in new financial year with new deputy chief executive partners

Most Read Articles

JWS appoints new managing partner

Service to others is ‘a way of life’ for Maurice Blackburn principal

New managing partner celebrates first day on the job at Carroll & O'Dea Lawyers

Clayton Utz rings in new financial year with new deputy chief executive partners