Contingency Fee – Based Commercial Litigation
In many instances, Waddell & Magan will be able to make a contingency fee arrangement in your commercial case. The contingent fee, as opposed to a “per hour” or flat fee, is not paid by the client directly, but is paid at the end of the case, after a verdict, judgment, or settlement. Because it is paid from realized proceeds, the contingency fee requires a case where money can be recovered.
The contingency fee is usually preferable to clients because they are then able to seek legal redress for their legitimate claims without having to worry about actually funding the litigation day–to–day. There are, however, numerous examples of complex commercial cases where a contingency fee would simply not work. For instance, a case with a valid counterclaim (where the defendant makes a claim against the plaintiff in the same action) is often not a candidate for a contingency fee. This is generally true because frequently, the safest resolution for the client would be to exchange dismissals with the other side, meaning both parties would simply drop their claims and walk away from the suit. Some counterclaims, though, are baseless and filed only to intimidate. In those cases, a contingent fee arrangement could probably be worked out.
Let us talk to you about your commercial case, and see if it is one suitable for a contingent fee.