contingency fee

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contingency fee

Law & medicine An attorney fee based on a percentage of the money recovered in a lawsuit

contingency fee

A wage charged by a legal professional for services rendered, payable only if the injured party wins damages as a result of the successful resolution of a suit. Contingency fees usually consist of a percentage of the damages recovered by the injured party.
References in periodicals archive ?
A more egregious conflict of interest would result if a judge or arbitrator were not only contracted by the plaintiff but also compensated under a contingent fee arrangement by the plaintiff, and therefore paid based on a percentage of the financial judgment awarded to the plaintiff against the defendant.
A lawyer on behalf of the client must petition for approval of a fee agreement for extraordinary lien resolution services if the combined fees of the primary lawyer and the extraordinary lien and subrogation lawyer exceed the contingent fee schedule for personal injury and wrongful death matters set forth in this rule at the outset of representation by the extraordinary lien and subrogation lawyer.
That's what a negotiation about billing rates or fee caps is for, not contingent fees.
The consultation document intimates that claims filed on a contingent fee basis may be either more expensive or less reliable (or "more aggressive") than claims filed using traditional billing methods.
2003) ("Where witnesses under contingent fee agreements are permitted to testify, examination on the contingent fee is considered vital.
However, House passage of this language "is an important step in the fight to provide fair and equal tax treatment to the attorneys who take contingent fee cases," said Linda Lipsen, senior vice president of AAJ Public Affairs.
Our explanation for this utilizes the fact that the plaintiff adopts the contingent fee and the defendant has a higher marginal cost of increasing effort when they hire their lawyers.
The Federal Acquisition Regulation defines a contingent fee as "any commission, percentage, brokerage or other fee that is contingent upon the success that a person or concern has in securing a government contract.
The company also pledged to return $27 million to certain Illinois clients to resolve the state's probe into improper contingent fee arrangements.
The Court holds that assignment of income principles require a plaintiff to report as income the portion of a recovery paid to the plaintiff's attorney as a contingent fee.
826 (2005), that the portion of a recovery paid to an attorney as a contingent fee constitutes income to the taxpayer.