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What Is The System Using No Win No Fee In Legal Matters?

Is there a revolution in the air on the subject of Lawyers fees and remuneration around the world? If there is there will be much controversy and the world and his wife will have an opinion on it, positive or negative, right or wrong! The revolution is called No Win No fee agreements. Mainly used in Personal Injury and Medical Negligence claims and sometimes employment law cases No Win No fee agreements are starting to become used in other areas of the law.

The revolution that is coming is the number of lawyers firms that are coming away from hourly billing. Hourly billing is when lawyers account for every minute of the working day and they bill or invoice clients for every minute of research, or just to write a letter or take a phone call.

“I think more and more now, sophisticated business people are looking for flexible arrangements and more accountability from their legal team,” said David Oliver, who started as the new head of Gray Robinson’s, commercial contingency law practice. Gray Robinson is a prominent US law firm.

Check our page here https://www.personalinjurysolicitorsdublin.info/no-win-no-fee/ for a look deeper in the area of no win no fee and learn more on what it is and what it can do.

The new trend however does not meet with the approval of everyone however as many of the traditional law firms are very conservative in their approach to clients and business. They have been wedded for so long to the hour billing and invoicing system that they will be slow and very reluctant to change to a new system of No Win No Fee where they only get paid if they win! Some of their clients think it is about time for a change and that legal firms need to move with the times and become more results orientated. They also believe that the hourly billing and invoicing system is open to a lot of abuse by law firms and that accountability of time spent is very difficult to evaluate.

Certainly the new product of No Win No fee agreements is easier to monitor from a client’s point of view. Remuneration can be fixed in advance and only payable if the law firm win the case or claim. It also allows the client if they so wish to get into a bidding situation where other law firms may be asked to quote on an individual situation.

However, many fear a free for all with this new trend in the legal business. They believe that there will be a stampede of law firms running after any available law suit and that far from being more lucrative for law firms the extreme competition will depress fees and costs recoverable. There are others that think that a No Win No fee agreement system will make Law firms focus heavily on the operating costs of the firm with the view of increasing profitability on No Win No Fee agreement business.

 

Are No Win No Fee Like Insurance Policies Or Not?

 

Of course in some jurisdictions a percentage based on damages or compensation received is not allowed by law. But there is nothing in those jurisdictions that is against a fixed negotiated sum for fees and expenses been agreed in advance.

The Insurance industry has indeed welcomed the new initiatives of No Win No Fee agreements by busily selling to Law firms and companies alike insurance policies to take care of the costs and legal fees of the defendant that might be awarded against them if the unthinkable happens and they lose the case or claim.

The jury is still out as to how this will affect the legal market place as the new product of No Win No Fee agreements is so radically different to the charge by hour system but we will shortly see the affects!

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talk to us about it

Can I Claim? No beating about the bush they will let you know straight away

1

Claims

Process Whatever your claim we have the experience and expertise

1

Cost

Talk to us now for some interesting solutions

1

Time limit

Time limits unless you are a minor under the age of 18 then you have 2 years from the injury in which to file