It all boils down to the Horten CC difference. We offer superior services through a fee model that is radically different from the typical law firm hourly billing model. Simply stated, we don’t have time to deal with 6-minute time sheets. We are busy providing legal solutions.
Our clients do not care how long it takes us to complete the assignment; they care about the value they receive. As we see it, fixed fees provide a number of advantages to our clients:
- Our clients are able to budget for their legal costs
- Since time is not a cost factor, our clients do not hesitate to share information with us, which makes our advice more calibrated
We do not keep track of, nor do we bill for, miscellaneous expenses like phone and fax charges, photocopying, secretarial overtime and ordinary U.S. mail as do most law firms. Other expenses are billed at cost.
Basic fee model
When asked to handle a project, we prepare a detailed engagement proposal setting out the tasks we will perform, the fee we will charge and when the fee is payable. The fee is normally firm regardless of the length of the negotiations and number of drafts required to close the transaction. We have now taken this a step further by offering a set of fixed-fee packages for the typical services needed by entrepreneurial growth companies.
We keep our fees lower by reducing our bad receivables
It is our policy not to let the work get ahead of the money. Our fees are paid at the beginning of the project or in installments in advance of each agreed-upon phase. This policy reduces our bad receivables and thus enables us to keep our fees lower. If our engagement terminates early because the client decides not to move forward with the transaction or otherwise, we will refund the client a pro rata amount of the fee we have received based on the work performed at that time.