Patrick Lamb is the founder and a partner at Valorem Law, which practices commercial litigation for a fixed price. He has 34 years experience as a trial lawyer for Fortune 1000 companies. Patrick is the author of Alternative Fees for Litigators and Their Clients, advocating value pricing for law firms. He also writes the New Normal column for American Bar Association Journal.
In this episode, we discuss his experience implementing value pricing and consulting with other law firms. Some of the questions Patrick answers include:
- What is the meaning of “valorem”?
- What is the importance of Parkinson’s Law?
- What is “it” and how does it impact the customer?
- What is Novus and how did it impact the practice of law?
- Can an attorney offer litigation at fixed prices?
- How do you manage the inherent risk of litigation?
- What is the Value Adjustment Line?
- What is the state of value pricing in the legal field?
- How did the Great Reset of 2008 impact the legal profession?
Contact Patrick Lamb