Historically, contingency fee agreements have been the working man's keys to their local courthouse. For most working folks, paying an hourly rate of $100 or $200 an hour is simply not realistic. Therefore, contingency fee cases allow the law firm to assume all risks of winning and losing via the prepayment of all case costs and no hourly charges for work performed. In return, the firm is entitled to for a percentage of recovery (if any occurs) and repayment of costs without interest or surcharge. This arrangement allows normal, everyday folks to pursue cases against large corporations, insurance companies, or other entities that could (and often would) spend them into oblivion and deny or delay justice.
This normal fee arrangement has traditionally applied to personal injury cases. But times, they are a-changin'. Many commercial business disputes or debt collection cases are being handled these days on just these same terms. Why? It's a good deal for clients and the attorneys. Most contract cases have the potential for the winner to be repaid attorney's fees by statute. Therefore, even if a percentage of recovery is paid to attorneys, as well as costs, it may actually be reimbursed by motion to the court by the winning party. It can be a win-win.
At Gibson Law Firm, we have an extensive background in commercial and business litigation. For several years prior to the firm's general focus on personal injury and medical negligence cases, the firm handled almost exclusively business and commercial litigation. If you are a small business or business owner, and are in a commercial dispute and need representation, but are wary of onerous hourly fee obligations, please call Gibson Law Firm at (501) 371-9051 and discuss representation on a contingency fee arrangement. We offer varying percentages of recovery arrangements based on responsibility of costs. Please call or email to JGibson@jessegibsonlaw.com to see if these work for your business and commercial needs.