After concluding that the billable hour model for pricing legal services needed to change, Nicole Nehama Auerbach helped form Valorem Law Group in 2008 to give clients an alternative. Valorem went from being one of the few firms created to provide alternative fee arrangements (AFAs) for commercial litigation, to being named one of the 22 Firms Best at Delivering AFAs by BTI Consulting in 2017 (along with such powerhouse firms as Kirkland & Ellis, Morgan Lewis and Seyfarth Shaw). Auerbach is a frequent speaker and writer on topics related to AFAs, innovation and the impact of the billable hour on women and minorities. In addition to her role as a thought leader on AFAs, Auerbach has had a notable year representing clients. In April, she obtained a $13.4 million verdict in federal court against the City of Chicago and six Chicago police officers for violating the civil rights of a client (Patrick v. City of Chicago, et al.). She is also the co-founder and current national board chair of the Coalition of Women’s Initiatives in Law.
And here’s what her Valorem colleagues thought of this honor:
We’re glad the rest of Chicago is learning what we’ve known for a while.