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re: Why does it seem like Lawyers are more valued than Engineers or Scientists
Posted on 8/31/15 at 9:50 am to ALT F4
Posted on 8/31/15 at 9:50 am to ALT F4
quote:
quote:Most engineers are consultants and they bill just as much as a lawyer. Do engineers have contingency fees?
quote:
you don't bill time if you're working on a contingency fee, nitwit.
You might want to reread the posts and the authors of the posts. I never implied that you bill hours while working on a contingency fee you buffoon.
Posted on 8/31/15 at 9:53 am to stewie
quote:
As an attorney, you are still supposed to account for your time...even on contingency fee.
Really?
So, if I hire you as my attorney and you bill $100.00 a hour, but instead we agree on a 1/3 contingency fee...I win a $100,000 judgement that you worked 20 hours on. You'd get the $33,000 contingency + $2,000 billable hours?
ETA: Also, aren't contingency fees used for personal injury cases?
This post was edited on 8/31/15 at 9:58 am
Posted on 8/31/15 at 10:00 am to Forkbeard3777
quote:
Really? So, if I hire you as my attorney and you bill $100.00 a hour, but we agree on a 1/3 contingency fee. I win a $100,000 settlement that you worked 20 hours on. You'd get the $33,000 contingency + $2,000 billable hours?
Billing your hours and accounting your time spent on a case are two different things.
You account for your time when you bill. You don't necessarily have to bill when you account for your time.
If a contingency client has a question or concern about what time I spent on his case, I have documentation providing them time spent and the activity taking up that time.
Yes, usually contingency fees are associated with personal injury cases.
This post was edited on 8/31/15 at 10:03 am
Posted on 8/31/15 at 10:06 am to stewie
quote:
Billing your hours and accounting your time spent on a case are two different things
Absolutely.
So, on a contingency, you log or track your work and hours (ex: 0.2 hours writing letter to opposing counsel, 2.5 hours deposing expert witness Dr. Stewie, etc) but you don't "bill" for that time.
Posted on 8/31/15 at 10:15 am to Forkbeard3777
quote:
So, on a contingency, you log or track your work and hours (ex: 0.2 hours writing letter to opposing counsel, 2.5 hours deposing expert witness Dr. Stewie, etc) but you don't "bill" for that time.
If it's a traditional contingency fee contract, I would think not. However, one should still account for their time and report that to a client on a regular basis.
Getting back to the point to which I replied, do engineers have contingency fee contracts? And what are the customary hourly rates for engineering firms? I honestly don't know.
And just so it's known, I don't think attorneys seem more valued than engineers or scientist in today's society.
If anything I'd say they are more despised.
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