Aligning the Interests of Lawyers and Clients

By Polinsky, A. Mitchell

Book Id: WPLBN0000033842
Format Type: PDF eBook
File Size: 0.2 MB
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Title:	Aligning the Interests of Lawyers and Clients
Author:	Polinsky, A. Mitchell
Volume:
Language:	English
Subject:	Trade, Import and export controls, Federal Trade Commission (U.S.)
Collections:	Economics Publications Collection, Federal Trade Commission
Historic Publication Date:
Publisher:	Government Printing Office


Citation APA MLA Chicago Polinsky, A. M. (n.d.). Aligning the Interests of Lawyers and Clients. Retrieved from https://self.gutenberg.org/

Description
Government Reference Publication

Excerpt
Abstract: The potential conflict of interest between lawyers and clients is well known. If a lawyer is paid for his time regardless of the outcome of the case, the lawyer may wish to bring the case even when it is not in the best interest of the client, may spend more hours working on the case than the client would want, and may reject a settlement when the client would be better off if it were accepted. Alternatively, if the lawyer is compensated according to the conventional contingent fee arrangement ? under which he is paid a fraction of any trial award or settlement but bears all of the cost of litigation ? the lawyer may have an insufficient incentive to bring the case, may spend too little time working on it if it is brought, and may encourage a settlement when the client would be better off going to trial. In this article we propose a method of compensating lawyers that overcomes the conflict of interest between the lawyer and the client...