Value & Pricing
Transparency is the bedrock of how we conduct business at LP.
This extends to the design of our pricing approach. Every engagement is customized to the needs and objectives of our clients. But what never changes—from client to client, attorney to attorney, or case to case—is our commitment to an unparalleled experience and value.
Five pillars of pricing
Determining hourly rates
We often find that pricing by project and matter makes the most sense for our clients, but hourly rates are appropriate in some cases. In those scenarios, our rates are as follows:
$185–$500
for staff attorneys, paralegals and support staff
$420–$760
for associates and senior counsel
$495–$1,200
for partners and of counsel
Rates for each LP team member are based on:
- Market value and competition
- Types of clients and client relationships
- Level of experience
- Demand for time
- Cost base
Rates are not determined by:
- Law school class year
- Across-the-board percentage increases
Types of Fee Structures
There are many ways to structure our fee arrangements, and we’ll work together with you to determine the best fit for your needs. Whatever model we adopt for a given engagement, you can rely on our unwavering dedication to outstanding and innovative client service.
Time-based (hourly) billing
Description
Fees based on the number of hours worked on a given project
Benefit to clients
An expected, common form of billing
Flat fees for repetitive and/or high-volume work
Description
A menu of services with corresponding prices
Benefit to clients
Predictable cost
Hybrid
Description
Different rates and/or pricing structures based on predetermined thresholds
Benefit to clients
Allows client to invest in more opportunities by providing reasonable risk-sharing at key points in a transaction
Mixed rates
Description
Different rates for different types of work; for example, standard rates for corporate work, but discounted rates for litigation
Benefit to clients
May be able to pay less in fees for costs that cannot be passed on to customers or to other units; accessibility to counsel at a lesser cost
Volume-based discounts
Description
Per matter/component price decreases once certain volume thresholds are met; typically requires periodic reconciliation
Benefit to clients
Efficiency from increased exposure to similar work and cost predictability
Monthly retainer
Description
A set monthly retainer for unlimited access to legal counsel within a predetermined scope
Benefit to clients
Predictable costs
Success fees
Description
Used in shared-risk situations; LP receives a premium for key milestones in exchange for accepting an agreed-upon level of risk to achieve the milestone
Benefit to clients
Client does not absorb all risk
Working with LP.
Open and timely communication guides every LP client relationship. We listen to your needs, respond to your questions, and keep you in the loop as situations evolve. We schedule regular check-ins via in-person meetings, phone calls, and email, and seek your input and feedback along the way.