Contingency-Fee Based Business Litigation in St. Petersburg
Florida Commercial Litigation Attorneys
Have you or your business ever had a dispute with a vender, a contractor, a client, or any other business or individual where you believed you were entitled to monetary damages? Of course you have. Financial disputes are a fact of life. Often times these disputes are never pursued though because of the fear of the cost of getting a lawyer. I hear it all the time. “That guy owes me $50,000.00 but I can’t afford a lawyer so I guess I’ll let it go.”
You’ve heard of “billable hours” before. You want to hire a lawyer, but that lawyer will charge you a hefty upfront retainer, and then bill you his sizable hourly rate for the legal work to be performed. From an attorney’s perspective, it makes sense. You get paid for what you do. Everyone likes to get paid for what they do! And while, in a perfect world, it’s understandable; this fee arrangement creates all kinds of problems. To name a few:
1. Fear of attorney/client communication
This one really bothers me. I see it in family law cases quite a bit. You may really want to communicate with your business litigation lawyer about strategy, concerns, updates, etc… but if you know that your attorney is billing you $350 per hour, you may rush your phone call, keep your email short, or not set up that meeting in the office at all, because you worry about how much it will all cost you.
2. No incentive to get the case over
Think about it. If your lawyer gets paid for every hour of legal work performed, the LAST thing that lawyer will want to see is a quick settlement or resolution to your case. We see this all the time in the personal injury arena. The insurance lawyers are getting paid by hour. I bet you’ve never heard of State Farm and GEICO’s lawyers in a huge rush to get cases wrapped up. It’s quite the opposite. These attorneys will file every motion, argue every hearing, and drag things out for AS LONG AS POSSIBLE. There is a direct financial benefit for them to do so.
3. No incentive to win
This is the big one. While we all want to think that “pride in one’s work” and an inherent drive to succeed should be all a lawyer needs to try to get the best outcome for their client, in reality that’s just not always the case. Use your common sense. Do you think that a lawyer who gets paid either way, win or lose, and a lawyer who only gets paid if their client wins will put the same effort, strategy, and energy into a case? Of course not. We live in the real world, and incentive matters.
So What Is The Alternative?
Florida Business and Commercial Litigation on a Contingency-Fee Basis
At Berkowitz & Myer, we believe that everyone should have access to the courts. If you have a legitimate claim for monetary damages, fear of a lawyer’s billable hours should not scare you away from your day in court. That’s why our team of knowledgeable and experienced lawyers takes business and commercial litigation cases on a contingency fee basis. What does that mean? It means that we charge you no upfront money, no billable hours, and no retainers. Rather than you assuming the risk of paying your lawyer in the hopes of winning your case, we are turning the tables and assuming that risk. If we do not recover anything for you, we do not get paid a fee. Just think about the benefits! We don’t get paid until you get paid so there is no incentive to drag things out any longer than is needed. You can call your lawyer or set up an in-office meeting and comfortably know that there is no additional cost for doing so. Most importantly, you know that your lawyer is working tirelessly to get you a positive result, because our fee is riding on it!
If you believe that your dispute needs to be brought to the attention of an experienced attorney, do not rush to some “pay upfront/pay-as-you-go” commercial litigation lawyer, call the attorneys at Berkowitz & Myer. Get someone fighting for you has just as much incentive to win your case as you have! Give us a call and schedule your no-cost consultation today!
Top 3 Reasons Why You Should Hire a St. Petersburg Contingency Based Business Litigation Lawyer
Until recently, the only way you could hire a business or commercial litigation firm was to pay a sizable retainer, and then watch your lawyer get paid by the hour. This antiquated system presents a whole host of problems. When available, you or your business should strongly an alternative to the “hourly billing” method. That alternative is known as “contingency based fee billing.” This alternative billing method is nothing new. Personal Injury lawyers have been doing this for years. You’ve seen the advertisements that say “No fees unless we win!” It’s that simple. Your lawyer only collects a percentage of what they get for you. If your lawyer does not recoup any money for you, your lawyer does not get paid. So why should you opt for a contingency fee based business litigation attorney? There are so many reasons, but here are the top 3:
#1 Make Sure That You and Your Lawyer Have the Same Goals and Objectives
When you hire a lawyer to get you a monetary award, your goal is to get your money as quickly as practicable. It sounds simple because it is simple. However, if your lawyer is motivated solely by billable hours, your lawyer does not share your motivation. Your lawyer does not share in your goal of a “quick resolution” to your case. Why should he/her? On the contrary, your lawyer profits the most from a long, protracted litigation process that involves as many hours expended as possible. That is in inherent conflict. Think about it, if your lawyer doesn’t get paid until you get paid, you are sharing the same motivation and objectives.
#2 Share the Risk
If you or your business is paying the attorney’s fees AND costs on the front end, your lawyer gets paid (win or lose). The risk associated with your case sits squarely on your side of the table. However, if your lawyer puts his/her time and efforts at stake, and you put up the litigation costs, both you and your lawyer have “skin in the game.” Why should your shoulder all of the risk when you can comfortably know that your lawyer’s fee is wholly dependent on a positive outcome for you?
#3 Communication is Key
All of those lawyer jokes you hear come from somewhere. People have a fundamental mistrust when it comes to the legal profession. As is the case with most things in life, good communication can solve a lot of problems. This is true with personal relationships, employment issues, and certainly with attorney/client relationships. However, if every time you call or email your lawyer you know that you are being billed, oh let’s say $350.00 every hour, it creates an environment to where you either do not want to reach out to your attorney, or you keep your communications more brief than they should be. You should not live in fear of calling your lawyer!
Now, not every case can be taken on a contingency fee basis. For example, if you have been sued and you are looking for a lawyer to defend your case, you are most likely stuck with the tradition billable-hour system. But before forking over your hard-earned dollars to some “bill by the hour” corporate lawyer, call Berkowitz & Myer to find out if your case can be litigated on a contingency fee basis. We look forward to speaking with you about your potential case! Consultations are always free so call today.