Rimon’s Founding Partner and CEO, Michael Moradzadeh, writes about the benefits of flat fee billing for clients, lawyers, and law firms in this article published in Law360. He also shares why the pyramid model of traditional law firms center on hourly billings of associates and junior partners, making flat fee billing and other, more efficient, billing systems nearly impossible…

(Go directly to article in Forbes here.) In the most enduring and infamous comment from the subprime meltdown, former Citigroup CEO Chuck Prince explained away his company’s disastrous leveraged lending before the crash with the comment that “as long as the music’s playing, you’ve got to get up and dance.” This comment is a perfect example…

Presentation by Rimon, P.C. CEO, Michael Moradzadeh and COO, Yaacov Silberman Evolutions in technology, the economy and business culture are forcing a change in the legal industry. Rimon’s CEO and COO share how Rimon and other alternative legal services companies are changing the way lawyers practice law and how clients are ultimately the ones to…

A business is defined by what it sells. A fairly obvious proposition, one would think. Well, then, what is it that law firms sell? The obvious answer should be solutions to legal problems. But, too many law firms are not in the business of selling those services, they are oddly in the business of selling…

The most radical changes in law firm billing which have occurred during the last two years has been the advent of value billing Alternative Fee Arrangements (“AFA’s). These billing arrangements are aimed at destroying or at least seriously maiming the invidious hourly billing process, which creates economic incentives for inefficiency. The hourly rate may be…

The evolution of alternative fee arrangements and value billing. In 1904, George Heber Smith, a recent Harvard Law School graduate, became the head of the Legal Aid Society in Boston. Smith found the lawyers working there overwhelmed with work for the Society’s indigent client base and sought to devise a method to improve the efficiency…