Everyone is talking about Alternative Fee Arrangements (AFAs). Some clients are demanding it; some firms market themselves as special because they will consider it; some attorneys are frankly scared of it because they think all it means is that they will be required to discount their fees.
In reality, an AFA is nothing more
Long before ‘billable hour" accounting became the norm in law firms, lawyers would price projects based upon what was fair to both the client and the lawyer. That is not to say that billings based on time is unfair, only that it can be unpredictable. Billable hour accounting dictates accountability which is and will remain