Value-based Pricing (“VBP”) is better for both the client and the attorney. VBP gives clients the peace-of-mind of not getting an unexpectedly large bill at the end of the month. It gives attorneys the ability to be compensated for value as opposed to a sometimes arbitrary amount of time it takes to complete the project. We believe the hourly billing model is antiquated because incentivizes slowness and doesn’t allow clients to budget as they start or grow their business.
Founder of Carbon Law Group, Pankaj Raval has been practicing intellectual property and corporate law for ten years. He has worked with budding entrepreneurs, startups, and fast-growing companies. He takes a special interest in helping his clients solve challenging legal and business problems in an effort to build their ventures and make a positive impact on society.