We believe that success-fee arrangements are the best way to synchronize the interests of the client and the lawyer. By in essence betting on ourselves, we make the client’s main priority, which is to achieve a favorable result, our own main priority.
Once engaged, we think about each case as if we were the client. Whereas traditional law firms and most of our competitors often have large cadres of associates who are focused on maximizing billable hours and generating fees, our trial teams are dedicated to one thing: preparing our clients’ cases for trial. Our fee arrangements are based on the notion that our compensation is tied to our clients’ success. Their win is our win too.
While many firms apply a “one-size-fits-all” model to every case, we understand that every case, and therefore every fee structure, is unique. Although there are cases in which the standard hourly fee model might be the best option, almost all our representations involve some form of success-based or contingent fee.
Full contingency fee—In some matters, particularly in cases in which we represent bankruptcy trustees, receivers, and liquidators that do not have significant resources, we take a case on a full contingency fee. Although our clients are usually responsible for paying out-of-pocket expenses, we take on the risk of the case by devoting our most valuable resource: our time. We have developed novel and creative fee structures that properly suit a given client or a given case. In the past we have worked with clients to develop different contingency fee tiers based on various milestones, including the length or stage of the case required for resolution. Even in pure contingency fee cases in which the client is responsible for expenses, we often establish an up-front expense cap, which we backstop. In other words, we agree that the client is responsible for a fixed amount of expense, after which we will advance the additional required costs (if any). This in turn eliminates what we term “budget risk” even on a pure contingency in which the client pays some expenses.
Mixed-fee—The majority of our cases involve a “mixed” or “hybrid” fee model. In these cases, the client often pays monthly or quarterly flat, or fixed, fees, and the firm receives a smaller contingency fee than if the case was pursued on a full contingent basis. We find that fixed fees help provide predictability to our clients. In fact, we often work with our clients to cap the total amount of flat fees upfront, so our that our clients know the total potential cost of the litigation from the outset.
Pre-suit fees—Unlike many firms that “sue first” and rush into a litigation posture, the firm’s philosophy is to give defendants an opportunity to resolve claims without publicity. And if not, the defendants effectively choose to be sued. Most of our pre-suit representations are on a reduced contingency-fee basis. Our approach to pre-suit settlement dialogues—detailed on our “Why Us” page—results in many of cases never actually being filed, which means a quicker settlement and often a better net recovery for the client.
Claims analysis—In some cases, our clients want a full workup and analysis of their potential claims before deciding whether to file a lawsuit and what fee arrangement makes sense for them. In these instances, we typically charge a flat fee for a complete factual and legal analysis of the claims, which provides the client with the necessary information to choose how to proceed.
No matter the type of case or which side of the docket, we work with our clients to create a fee arrangement that makes the most sense for them based on the particular facts and circumstances of the case. After all, we believe in our clients and our cases, and we think our fee arrangements should reflect this outlook.
Prior results do not guarantee a similar outcome.
Our team of trial attorneys includes former federal prosecutors, judicial law clerks, entrepreneurs, transactional attorneys, and forensic accountants
We represent corporations, hedge funds, offshore liquidators, trustees, and individuals to resolve complex commercial disputes nationally and internationally
We are sophisticated trial attorneys, not beholden to large institutional clients, that offer sensible fee arrangements and a creative approach to resolving complex commercial disputes.
In its exclusive look at the nation’s top trial lawyers, Lawdragon has named eleven partners of Reid Collins to its 2025 list of the 500 Leading Litigators in America: Craig A. Boneau; Joshua J. Bruckerhoff; Keith Y. Cohan; Rachel S. Fleishman; Eric D. Madden; Nathaniel J. Palmer; William T. “Bill” Reid IV; Gregory S. Schwegmann; Lisa S. Tsai; Jeremy H. Wells; and Michael J. Yoder.
These Lawdragon selections cap off an awards season which has seen the firm and its attorneys win multiple industry honors, including being named the top Bankruptcy trial team in the country (Benchmark).
Click here to view the 2025 Lawdragon 500 Leading Litigators in America.
Reid Collins & Tsai LLP has been named a finalist for National Boutique/Specialty Litigation Department of the Year by The American Lawyer Industry Awards (TALIA).
The editors and reporters of The American Lawyer and Law.com research the field and “review hundreds of compelling submissions and nominations” to highlight “the industry’s most impactful, innovative and otherwise excellent work.”
The winners and finalists will be honored at the awards dinner in New York City on November 13, 2024.
Click here to view the finalists and honorees.
Texas Lawyer magazine and Law.com named Reid Collins & Tsai LLP and two of its partners as finalists for the 2024 Texas Legal Awards.
The firm has been recognized as a finalist in the “Litigation Departments of the Year – General Litigation” category. Managing Partner Lisa S. Tsai was named a finalist for Influential Woman of the Year and Partner Keith Y. Cohan was named a finalist for Pro Bono Attorney of the Year.
The editors and reporters of Texas Lawyer and Law.com research the field to highlight professional excellence and identify the firms and practitioners in the State of Texas with the most impressive wins and track records of success in recent years.
The winners and finalists will be honored at the Texas Legal Awards dinner in Dallas on October 15, 2024.
Click here to view the finalists and honorees.
The Best Lawyers in America®, the “oldest and most respected peer-review publication in the legal profession,” has recognized eight Reid Collins attorneys in its new edition.
Partners Eric D. Madden, William T. Reid, IV, and Michael Yoder have been selected by their peers for inclusion as 2025 Best Lawyers® and Ryan M. Goldstein, Yonah Jaffe, Morgan M. Menchaca, Scott D. Saldaña, and Jeremy Wells were named to the 2025 edition of Best Lawyers: Ones to Watch® recognizing practitioners who, early in their careers, have developed outstanding reputations for professional excellence in private practice in the United States.
Selection by Best Lawyers® is based on an exhaustive peer-review evaluation methodology designed to capture, as accurately as possible, the consensus opinion of leading lawyers about the professional abilities of their colleagues within their geographical and legal practice areas.
Click here to view the profiles.
WILMINGTON, DE – August 9, 2024 – Reid Collins & Tsai LLP is investigating potential breach of fiduciary duty claims against current and former directors of Juul Labs, Inc. The transactions under investigation arise in connection with a recent investment by Juul insiders that enhanced their influence and control over the company at the expense of minority investors, whose stake in the company has been sharply diluted.
If you currently own shares of Juul and want to receive additional information free of charge so you can consider protection of your investment, please get in touch by contacting William T. Reid, IV, Esq. by email (wreid@reidcollins.com) or by phone (512-647-6100).
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