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Mining for gold: making a profit in today's tough times
Posted by: Matthew B.F. Biren
December 23, 2009

Mining for Gold: Making a Profit in Today’s Tough Times

Financial Arrangements among Lawyers

In the past year, it seems as if every day i hear about the tough times that many law firms face.  Now, more than ever, i receive calls from attorneys and legal administrators throughout california asking about my firm’s policies regarding client referrals and referral fees.  Lawyers are often confronted with a quandary: what to do when a client, relative, or friend calls with a legal problem that is outside their field of practice.  The attorney wants to help the client but is concerned that he/she may not have the expertise or resources to do a proper job.  In some instances, the lawyer may wish to be involved in the case, recognizing its financial potential for the firm, but is not willing to embark into new areas of practice at the potential expense of the client.  Or, for lawyers who are have an hourly (as compared to contingency) practice, the client, relative, or friend cannot afford to pay the hourly rates that can drastically mount up throughout the course of the litigation.

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