Wednesday, December 23, 2009

Monthly Retainers Replace Billable Hours at San Francisco Law Firm

Alternative billing is the rule rather than the exception at San Francisco law firm Smithline Jha, according to a recent The Recorder article titled "Small Law Firm Woos Clients with Monthly Subscription Fees."

A key benefit to clients, who tend to be venture-backed firms, is that they have a fixed monthly expenses to budget. Monthly retainers range from $6,000 to $12,000, according to the article.

The firm's website outlines their approach to subscription pricing.

According to the article:
Now clients tend to invite them to the deal table earlier, while terms are still being discussed, rather than bringing them in to review a ready-made contract. "They're not afraid to call anymore," Jha said. "They didn't feel like the meter was running every time they talked to us. The net effect was we got so much closer to our clients."

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