For more background on alternative fees, read Jim Hassett's series on alternative fees in his blog:
Alternative fees (Part 1): What's wrong with billing by the hour? (1/7/09) Alternative fees (Part 2): An idea whose time has come? (1/14/09) Alternative fees (Part 3): What your competitors are doing (1/21/09) Alternative fees (Part 4): Why every lawyer needs to consider alternative fees now (1/28/09) Alternative fees (Part 5): Discounting (2/11/09) Alternative fees (Part 6): How to set a fixed fee (2/18/09) Alternative fees (Part 7): More on setting a fixed fee (2/25/09) Alternative fees (Part 8): Succeeding with fixed fees, step by step (3/4/09) Alternative fees (Part 9): Hybrids (3/18/09) Alternative fees (Part 10): Today and tomorrow (3/25/09) Alternative fees (Part 11): More on how to set a fixed fee (4/1/09) Alternative fees (Part 12): What's different for Big Law? (5/6/09) Alternative fees (Part 13): Why has change been so slow? (5/13/09) Alternative fees (Part 14): In-house counsel's reluctance to switch to non-hourly billing (6/3/09) Alternative fees (Part 15): The LegalBizDev survey (6/10/09) Alternative fees (Part 16) – Win-win, or win-lose? Alternative fees (Part 17) – Costs Alternative fees (Part 18) – Risks Alternative fees (Part 19): Structuring contingent fees Alternative fees (Part 20): How many kinds are there?