The legal industry is changing. And Shire Legal is paying attention to those changes by introducing a number of initiatives – the biggest one being fixed fees on many matters that have been traditionally charged on an hourly basis.
Why fixed fees?
Fixed fees offer certainty to our clients as to what their legal matter will cost them. The secret to being able to offer fixed fees is setting out exactly what work will be done (called “scoping”) and providing a cost for each of those tasks.
Our costs agreements contain the following information:
- Scope of works – each task that needs to be done
- Cost – the cost of each task
- Timing – the proposed timing for completion of those tasks
- Assumptions – any assumptions that are made both by the firm and the client (e.g. for a business purchase matter, a typical assumption is that the client’s accountant will be conducting a financial due diligence on the target acquisition)
Contact the team at Shire Legal to see if we are able to offer you a fixed fee for your matter.