For transactional work, Tomlinson Advisory has generally moved away from the traditional legal billing structure. For years, clients have paid their lawyers by the hour. This fee arrangement gives lawyers the incentive to work inefficiently as they get paid more money as the transaction grows longer and more complicated. Hourly billing motivates attorneys to raise unnecessary issues and delay closings. Further, under the traditional system, lawyers take large retainers. This removes all client control over costs.
At Tomlinson, we want to be legal partners with our clients, aligned in the achievement of positive outcomes. To achieve this, Tomlinson generally bills transactions on a deal-specific, fixed fee basis. Together with the client, Tomlinson identifies the scope of the project in advance, and clients pay a portion of the fee when the project begins. The balance is generally contingent on the deal closing. This way, clients know exactly what the deal will cost, and can be certain that their counsel is motivated by a positive outcome. This allows them to budget appropriately and with confidence.
Tomlinson prides itself on partnering with its clients and being an integral part of each client’s success. Tomlinson’s alternative billing arrangement allows clients to ask as many questions as they have and send as many emails as they want without fear of running up out-of-control legal fees. This fosters better attorney-client communication.
"Rob has been a great partner to our fund over the years. He provides prompt, responsive advice that is tailored to the situation and understandable to the business team. His guidance helps us negotiate better terms and conditions in our deals." - Matthew Fedors, Leaf Clean Energy