Fee Structure
A client is not charged attorney fees if he loses the case. If the client recovers damages from settlement or a favorable verdict, the attorney receives the fee from the recovery. The attorney's permitted fee varies depending on the country, and even local jurisdictions.
In the US, for example, the fee is generally based on the contractual agreement between the attorney and the party, but is also limited by local rules for "reasonableness". See e.g., Miss. Rule of Prof'l Conduct 1.5. In most jurisdictions, contingent fees are "reasonable" as high as 33% to 45% of recovery. Attorneys charging unreasonable fees may be subject to professional sanctions. The fee is calculated as a share of the eventual damage judgment or settlement won by the client. The percentage allowed is subject to the ethical rules of professional conduct, and in many circumstances, statutory limitations.
In the UK, on the other hand, the client is liable for the normal fee (based on hourly billing plus a profit element) plus a success (or bonus) fee (no more than 100%). Most lawyers charge a success fee much less than this, 25-50%. In English law, fees are subject to compliance with the statutory scheme.
Read more about this topic: Contingent Fee
Famous quotes containing the words fee and/or structure:
“I like to be in America!
OK by me in America!
Ev’rything free in America
For a small fee in America!”
—Stephen Sondheim (b. 1930)
“... the structure of our public morality crashed to earth. Above its grave a tombstone read, “Be tolerant—even of evil.” Logically the next step would be to say to our commonwealth’s criminals, “I disagree that it’s all right to rob and murder, but naturally I respect your opinion.” Tolerance is only complacence when it makes no distinction between right and wrong.”
—Sarah Patton Boyle, U.S. civil rights activist and author. The Desegregated Heart, part 2, ch. 2 (1962)