ACC VALUE CHALLENGE - Guide to Value-Based Fees
One of the benefits of following this framework is that it allows you to identify distinct
roles and requirements to guide both inside and outside counsel and their teams as they jointly
focus on legal and management issues. There are also roles for additional support resources,
like project managers, vendors, and others, who may assist in managing the financial and
operational components of value-based fee structures. But the core principles apply regardless of
who is performing the tasks and whether additional support resources are available. If both in-house
and outside counsel are willing to engage in candid dialogue and to execute on this approach to
value-based fee structures, then success is within reach.
This ACC Guide to Value-Based Fees will provide a step-by-step approach to help those
new to the process get started and to help those who are veterans of the process consider
whether there may be opportunities to improve what they already do. The checklists, flowcharts and tables are designed to help in assessing a particular matter to determine which of
the following value-based fee constructs would fit best, as well how to best implement and
carry out these terms.
The table below elaborates on these value-based fee constructs, defining them first
before addressing implementation.
Value-Based Fee Matrix
The table below lists common types of value-based fee arrangements, provides some
examples of when they might be used, and describes situations for which the fee structures
may be ideally suited. This ACC Guide to Value-Based Fees is evolving as practices evolve. If you have
successfully implemented other value-based fee structures not listed below, please contact us at
firstname.lastname@example.org so we may consider adding your practice to the list.