Phuse phixed phees phor phases, phractional phunding phor the phuture

This is not phoolishness. American Express sets the fees it will pay litigation counsel for certain phases of predictable types of cases that should be resolved by a motion for summary judgment. According to a teleconference hosted by three ACC committees, where one of its litigators took part, if the case isn’t resolved during the fixed-fee phase, the firm works thereafter on a discounted hourly rate.

Phrankly speaking, a phine idea. The fixed fee gives the firm an incentive to resolve cases as promptly as possible; the reduction in the firm’s billing rates thereafter adds another dose of incentive.