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Attorney's fee is a chiefly United States term for compensation for legal services performed by an attorney (lawyer or law firm) for a client, in or out of court. Fees may be an hourly, flat-rate or contingent fee.
For many years, the United States Attorney's Office used the Laffey Matrix ("USAO Laffey Matrix") as a basis for hourly rates for attorneys' fees in litigation claims. This matrix used the original Laffey Matrix from 1982 and adjusted it annually using changes in the Bureau of Labor Statistics Consumer Price Index for all Urban Consumers for the Washington-Baltimore area.
In the legal realm, the "lodestar method" refers to a method of computing attorney's fees whereby a trial court must multiply the number of hours reasonably spent by trial counsel by a reasonable hourly rate.
The fee may be paid as an hourly rate, a flat fee or as a percentage of assets under management (typically around one percent). ... Fee-only financial planners vs. fee-based.
In the alternative, the client may enter into a fee contract with the lawyer based upon hourly billing with an additional success fee to be paid in the event of a successful outcome to the litigation. In England, the success fee must be a percentage, no greater than 100% of the contractual hourly fee. [19]
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Fee structures vary, but fiduciaries generally generally charge an hourly or annual fee, or they may charge a percentage of assets under management. Double-check that the advisor’s fees are ...
In the United States the "American rule" is generally followed, each party bearing its own expense of litigation. However, 35 U.S.C. § 285 provides that in patent cases, the losing party may have to pay attorney fees of the winning party if the case is deemed "exceptional."
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