Share In The Risk Litigation Defense Program®
If your employee or former employee sues you, we do something most other law firms don’t. We “share in your risk.” This means when we defend your business against an employee lawsuit we only get paid our full fee if we “win” your case. If we “lose,” we take a pay cut… up to a 40% pay cut.
Unlike most other law firms, our interests are aligned with yours. Most litigation law firms charge an hourly rate and expect to be paid irrespective of results. After all, it’s not their problem, it’s yours. The more time they spend defending the matter, the more legal fees you have to pay (. . . and the more money they make). But without sharing in any risk there is no incentive to be efficient, to accurately assess your case for early reasonable settlement, or to effectively evaluate the “cost-benefit” of any legal work or procedure performed.
Why do we do this? Because we have confidence in our preventive advice under our monthly flat rate programs. Litigation is very expensive, and we believe that as a monthly flat rate client we help you avoid litigation and put you in the best possible position to win when a lawsuit is unavoidable. So under the SIR Program, if we win the case for you, we earn our full litigation fee. If we lose the case, our fee is dramatically reduced.
How It Works
|Litigation Rate||For litigation defense work, we charge our normal litigation hourly rate.|
|Holdback Amount||We set aside a portion of the Litigation Rate as a “Holdback Amount”:
|Base Rate||Our Litigation Rate, minus the applicable Holdback Amount, is our Base Rate:
|You pay the Holdback Amount based on results||
In the event of a loss or a draw, you pay less.1 You receive the benefit of our regular advice and consulting services. Therefore, we are confident that you will be exposed to less employee legal risk. And even if you are sued we believe you will be in a better position to win.
1 Subject to Vision Law®’s acceptance of the litigation matter under the SIR Program and agreeing to specific terms in a written Share In The Risk Litigation Defense Program® Agreement. Vision Law® reserves the right in its discretion to decline participation in the Share In The Risk Litigation Defense Program® for any litigation matter.
2 The definitions of “win,” “lose,” and “draw,” are agreed upon by us and specified in the Vision Law® Share In The Risk Litigation Defense Program® Agreement.