Kuhn, Counselor at Law, P. Employee reductions in force and "downsizing" are an unfortunate part of the employment relationship.
If there is no recovery of money, property, or benefit, we receive no fee. The advantages are that you need not put any new money in for legal fees to chase money you have already lost.
Even if the legal efforts exceed our percentage or no recovery is made, you are not responsible for any additional fees, and you are not burdened by continuing expenses on a bad situation from the past.
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The only disadvantage of a contingent fee is if the debtor pays quickly or recovery is obtained with little legal effort, our percentage may be higher than you would have paid hourly.
It is rare that there is an extreme difference and most clients are satisfied with contingent fees.
Some cases result in rapid collection. Others take extensive effort to collect. A few require extensive effort but do not result in a favorable outcome.
There is no way to predict in advance. Hourly legal work will require an advance retainer and subsequent monthly billings as work continues. If the case resolves quickly, hourly fees could be less than contingent fees on larger cases.
If you have many cases and can play the odds, hourly fees can maximize recovery. However, we have found that when cases drag out and billings continue, clients may grow impatient.
It takes staying power to choose hourly fees. We are frequently asked which is best, contingent or hourly fees. There is no constant answer.
Each has advantages and disadvantages. There can be no advance certainty of how much legal work is necessary, how long the process will take, or whether it is economically justifiable to incur legal fees. Some debtors file bankruptcy, become insolvent, die, disappear or conceal assets.
Winning cases is generally far easier than collecting the money. To recover fees we must pursue the case all the way to judgment and ask the court to award legal fees.
In cases that go to trial only one in 40 the court may award actual fees. Since many cases are resolved by negotiated settlements or agreements, often creditors will offer to waive the legal fees the court could award to obtain voluntary payment.
Sanctions are usually an award against the opposing party or attorney for improper litigation conduct. On hourly cases, any fees or sanctions recovered are returned to our clients.
On contingent fee cases, any fees recovered are added to the gross recovery and divided in the same proportion as the principal debt.
All sanctions are disbursed to attorney./05/06 4 advise client as to his/her/its interest • at first consultation, advise clients of consequences – advantages – disadvantages • insolvency affects status.
A cooperative is an enterprise in which individuals voluntarily organize to provide themselves and others with goods and services via democratic control and for mutually shared benefit. The following is the Department´s title II ADA regulation published July 26, , which should continue to be used until March 14, What are the advantages and disadvantages of licensing?
A company that owns rights in a patent, know-how, or other IP assets, but cannot or does not want to be involved in the manufacturing of products, could benefit from the licensing out of such IP assets by relying on the better manufacturing capacity, wider distribution outlets, greater local knowledge and management expertise of another.
by Michael B. Bogdanow Meehan, Boyle, Black & Bogdanow, P.C. Boston, Massachusetts © April, I. General Principles. Although many practitioners assume that. Employee reductions in force and "downsizing" are an unfortunate part of the employment relationship.
An employer's decision to retain certain employees, while terminating or laying off others, may lead the discharged workers to feel that they were discriminated against.