Let’s explain how most large law firms work: there are necessary practices like monitoring hours worked on a case (work in progress) and chargeable hours recorded per day by lawyers.
In large firms, these are needed to understand how the organisation and its people are performing. In a smaller firm, visibility on what we are doing is easier so it’s often possible for us to agree fees for stages to get the work done to the best of our ability. It is as simple as that.
We try to meet client expectations through forecasts, budgets and a cap on fees for stages of cases.
Clients appreciate our approach and the work we produce is better as we are not constrained by target hours or fees. The team are happier and so are the clients.
Our clients are victims of dishonesty - worried about being targeted, are victims of fraud or financial crime - so giving some certainty at a difficult time for clients aligns with why Tenet was formed.