Sorry, but I just found out that Valorem is mentioned in the Wikipedia entry on Alternative Fee Arrangements. So I have to take a minute to celebrate this “achievement.”
Various firms and corporations are credited with leading the way in AFAs. Leading the charge are corporate clients such as Du Pont, Cisco, and FMC [Technologies]. Corporate clients are looking for a combination of cost savings, cost certainty, and alignment of law-firm interests with corporate interests in avoiding an excess of hours worked—and billed. Law firms such as K&L Gates and Valorem are taking the lead in proposing AFAs.
I feel like my life is now complete. Well, wait, does Guinness have an AFA category in its Book of World Records?