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How Plaintiffs’ Law Firms are Paid
A lot of people contact us wondering how we are compensated for representing our clients. We are a plaintiffs’ law firm, and like most others, we work on a contingency fee basis. This means that we receive a percentage of the amount awarded to our clients through either a settlement or a judgment in court.
How a Contingency Fee Arrangement Works
When a law firm and a client work together under a contingency fee arrangement, that means the client only pays if his or her legal action succeeds. If we recover compensation in a case, we will receive a percentage of your court or settlement award as our attorney fees and recover our expenses. Baron & Budd clients never have to pay anything upfront when hiring us.
Why Plaintiffs’ Law Firms are So Important
A plaintiffs’ law firm represents clients who have suffered financial or physical harm due to the actions or inactions of another party or parties. In a nutshell, we typically take on large corporations, such as pharmaceutical companies, automobile manufacturers, asbestos companies, etc. We basically fight for the “little guy” so that he can compete against adversaries with incredibly deep pockets and virtually unlimited resources.
Plaintiffs’ law firms working under the contingency fee system make it possible for people who have been harmed by corporate fraud and/or negligence to fight back. This not only shines a harsh spotlight on harmful corporate practices, it also helps our clients obtain compensation to offset medical expenses and financial losses.