Steve Ahn Quoted in ABLJ Article regarding Alternative Fee Arrangements
Corporate Partner Steve Ahn was quoted in an article titled “Ringing Up Legal Spend,” which appeared in the February 2019 issue of Asia Business Law Journal (ABLJ). In the article, Steve shared SEUM’s flexible approach to meeting increasing demands for competitive rates without compromising quality:
“One of the options that is popular with our clients is a monthly subscription service under which we provide a set number of hours of work for a fixed monthly fee … [i]f we perform work exceeding the agreed number of hours, we charge at a single blended or discounted rate. To provide budget certainty for our clients, we will provide a quote for fixed fees whenever it is possible to define the scope of work. For ICO [initial coin offering] projects, we will, in select cases, agree to work on a success fee basis under which our fees will vary depending on the amount of funds raised through the project. We have found that most of our clients will choose the success fee arrangement when given option.”
Reproduced with permission from Vantage Asia Publishing Limited. Established in 2006, Vantage Asia is an independent business-to-business publisher based in Hong Kong. Vantage Asia publishes leading legal magazines such as Asia Business Law Journal, China Business Law Journal and India Business Law Journal, and operates vantageasia.com, a digital resource for in-house counsel, private practice attorneys, and other legal and business professionals with an interest in the Asia-Pacific region.