Contingency fees are a type of payment arrangement used in civil litigation cases, where a lawyer agrees to represent a client on a “no win, no fee” basis. In other words, the lawyer will only get paid attorney fees if they are successful in winning the case or securing a settlement for the client. Typically, the contingency fee will be a percentage-based amount. If the lawyer is not successful, the client does not have to pay attorney fees.
Contingency fees allow individuals or small businesses who may not have the financial resources to pay hourly legal fees to pursue a legal claim. This helps level the playingfield and ensures that everyone has access to justice, regardless of their financial situation.
Because lawyers who work on a contingency fee basis only get paid if they are successful, they have a strong incentive to work hard and do their best to win the case. This can benefit the client, as the lawyer will be more motivated to get a good result.
With contingency fees, the client does not have to pay any attorney fees upfront and only has to pay if the lawyer if successful. This means that the client can pursue alegal claim without having to worry about the financial risk.
In some jurisdictions the percentage an attorney can recover is capped and provides an additional layer of protection for individuals who would otherwise not be able to hire an attorney.
Contingency fees allow individuals or small businesses who may not have the financial resources to pay hourly legal fees to pursue a legal claim. This helps level the playingfield and ensures that everyone has access to justice, regardless of their financial situation.
Because lawyers who work on a contingency fee basis only get paid if they are successful, they have a strong incentive to work hard and do their best to win the case. This can benefit the client, as the lawyer will be more motivated to get a good result.
With contingency fees, the client does not have to pay any attorney fees upfront and only has to pay if the lawyer if successful. This means that the client can pursue alegal claim without having to worry about the financial risk.
In some jurisdictions the percentage an attorney can recover is capped and provides an additional layer of protection for individuals who would otherwise not be able to hire an attorney.
In conclusion, contingency fees can be a useful way for individuals or small businesses to pursue legal claims, particularly if they do not have the financial resources to pay hourly legal fees. However, it is important to carefully consider the potential pros and cons of using contingency fees before entering into this type of arrangement.
