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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
Posted by Forkbeard3777
Chicago
Member since Apr 2013
3841 posts
Posted on 8/31/15 at 9:50 am to
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 by Forkbeard3777
Chicago
Member since Apr 2013
3841 posts
Posted on 8/31/15 at 9:53 am to
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 by stewie
Member since Jan 2006
3950 posts
Posted on 8/31/15 at 10:00 am to
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 by Forkbeard3777
Chicago
Member since Apr 2013
3841 posts
Posted on 8/31/15 at 10:06 am to
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 by stewie
Member since Jan 2006
3950 posts
Posted on 8/31/15 at 10:15 am to
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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