How is the attorneys fee structured?
Normally, attorney fees are either based on a contingency agreement or on an hourly rate. In a typical contingency agreement, the client does not pay the attorney up front. The attorney is only paid if there is recovery, and the fee is based upon a percentage of the final award (normally 33%-40%). The contingency fee can work out well for Internet start-ups, individual entrepreneurs or small businesses that are unable to afford to assert their legal rights against large corporations that appear to have an endless amount of funds to pay legal expenses. However, be sure you understand how expenses (such as copying, depositions, court costs, etc.) will be handled. Hourly fees are when the client pays the attorney his or her hourly billing rate plus expenses. Unlike a contingency fee arrangement, if the client pays the hourly rate, the entire award belongs to the client once litigation is successfully concluded. Whatever fee agreement you make with the attorney, be sure to get it in writin