Contingency Fee
A fee arrangement where the lawyer only gets paid if you win your case, typically taking 33-40% of the settlement or verdict.
Detailed Explanation
Contingency fees make legal representation accessible for people who cannot afford hourly rates. The attorney assumes the financial risk of the case, investing their own time and resources. If you lose, you owe nothing in attorney fees (though you may still owe case costs in some arrangements). Common in personal injury, medical malpractice, and employment discrimination cases.
Related Terms
Settlement
An agreement to resolve a legal dispute without going to trial, where the defendant pays the plaintiff an agreed amount.
Verdict
The formal decision made by a jury or judge at the conclusion of a trial determining the outcome of a case.
Fee Agreement
A written contract between attorney and client specifying how legal fees will be calculated, billed, and paid.