Wright Commercial Litigation seeks to provide value to clients. That includes offering to work on a partial contingency basis for certain types of insurance, breach of contract, and other cases depending on the circumstances. A contingency fee is the norm for personal injury litigation but less commonly used in commercial disputes. The firm offers to back up its assessment of the merits in appropriate cases by offering to work on a hybrid contingency (but also occasionally full contingency) that results in the firm not being paid in full unless and until there is a successful recovery. That provides a significant advantage to small or midsize businesses as well as individual owners, partners, investors, shareholders, nonprofits, and others who cannot afford the full hourly rates charged by many firms.
The contingency basis offered by Wright Commercial Litigation is typically a low hourly rate with the addition of a fixed percentage of any monetary recovery obtained after the firm becomes involved, which may be phased to start lower and increase depending on whether a resolution is achieved by settlement before suit or additional work becomes necessary through filing, prosecution of discovery, or trial of a claim. The hourly fee portion and percentage of contingency offered is unique for each matter based on a proprietary approach factoring in the key facts, adversary, amounts at issue, time anticipated and difficulty, along with the firm’s independent evaluation of the merits and likelihood of recovery.
The primary risk for a law firm in any contingency case is not being paid in full (or at all) for a substantial investment of time and/or money. That requires due diligence on the front end to make sure a claim not only has validity but reasonable assurances of actually collecting payment if successful. Wright Commercial Litigation is experienced with a wide variety of disputes in McKinney and throughout Collin County, Dallas County, Denton County, and the greater Texas area, and offers to back up its assessment of a case by offering at least a partial contingency fee when appropriate and feasible.
Contact the firm to request an evaluation of your case to see if it may be one that can be handled on a hybrid contingency or reduced fee basis.
1 Please note that the firm’s contingency arrangements require a client to still pay court costs, expert charges, and other litigation expenses as incurred and regardless of outcome. In limited circumstances, the firm may offer to cover all costs of litigation in return for a higher contingency percentage. The detailed terms of contingency—hybrid terms and responsibility for costs—will be agreed upon between you and the firm before any engagement, and documented in a detailed written agreement executed by both sides before any work begins.
Reasonable Hourly Rates with a Value-Based Billing Commitment
Sometimes a contingency fee or other alternative is not feasible (for a variety of reasons). In that instance, the firm can usually still offer to work on a traditional hourly basis at a rate that is reasonable in comparison to others, which is made possible by leveraging modern technology and outsourced support solutions to minimize the overhead costs other firms still treat as essential.
In addition, however, Wright Commercial Litigation subscribes to a philosophy that no client should be charged by the hour for anything that does not add true value to their matter. That means, first and foremost, billing only for work legitimately required to apply some legal skill, knowledge, or experience that advances the ball on a client’s case or project. Certainly there will be tasks at times requiring a significant investment of hours to make sure they are done correctly and to fully protect a client’s rights or options, but you will never be expected by Wright Commercial Litigation to pay for anything the firm itself cannot articulate the reasons why it provides a direct benefit to your matter.
Yet, value is still a subjective concept. Like “beauty” it may exist only in the eye of a beholder.
As a result, Wright Commercial Litigation’s dedication to value means that, if you get charged on an hourly basis for something you do not agree was worth the effort, then there’s no obligation to pay for that task. No questions asked. That is the firm’s “value-based” commitment for matters billed by the hour.
Hybrid Fees and Other Alternative Arrangements for Commercial Contingency
A hybrid fee is considered any combination of the standard forms of legal billing—fixed fee, hourly fee, and/or contingency—but may also include arrangements such as placing a “cap” on a normal hourly rate (which gives a client the benefit of paying only time incurred with a guaranteed ceiling not to be exceeded even if necessary to properly complete a project).
Less common types of hybrid fees include a “holdback” whereby the client releases a portion of fees as earned upon certain measures of “success” being attained, or even a true retainer where a client pays a larger one-time, monthly, or annual fee to secure the services of an attorney whenever and however needed with no hourly billing to the client.
Whatever form it takes, a hybrid fee can make skilled legal services available to a wider variety of clients and cases. Wright Commercial Litigation will consider any type of creative arrangement you would like to propose. The firm seeks to be flexible and innovative in all things. All you need to do is ask.
No Charges for General Consultation. Ever.
A law firm focused on providing value must also listen closely to a client and not hesitate to speak up and tell them when legal services are not needed. That, in turn, requires open and honest communication at all times. Billing every six minutes in the process can be a hindrance to that need.
That is part of the reason why general consultations with Wright Commercial Litigation (i.e., those not requiring analysis of documents, research, or drafting) are free … before, during, or after an engagement.
Certainly no client should be deterred by cost from simply asking a question, providing information, or getting an update on their matter. A lack of communication is the root cause of most error and dissatisfaction. Virtually every other industry on the planet charges customers only for the core product or service their business is uniquely qualified to provide, not time spent answering the customer’s questions. Why should your law firm be different? … Tradition? … More profits per partner?
Wright Commercial Litigation is not a traditional law firm. Its mission is to be as efficient and targeted as possible in order to help deserving clients recover what they are due or solve other legal challenges in a way that saves them money. Compensation for a firm should come first in the satisfaction of a job well done for an appreciative client, whether that is a large corporation, small business owner, or individual client. Profit naturally follows the path carved out by superior customer service.
Contact the firm today to schedule an appointment to discuss your matter.