We speak CFO, not legaleze
No one likes to feel taken advantage of — especially in a long-term relationship that should be based in trust.
The price of legal services must ensure that clients and their counsel feel good about working together. Clients should feel comfortable reaching out for strategic support without worrying about each extra minute on the call. Counsel should feel comfortable working on a matter as much or as little is necessary to reach a sound recommendation.
Most traditional law firms approach pricing as a contest to maximize rates that test what the market can bear. As a result, too often, clients are disincentivized from reaching out for needed support. And counsel are disincentivized from efficiently or fully working up a matter.
Traditional law firm pricing models illustrate a basic prisoner’s dilemma. Law firms make more money by billing more hours. Clients are legitimately concerned about run-away costs and often overmanage the bill. Clients and counsel each receive less than optimal results by purporting to act in their own self interests. A bigger and more serious problem lurks below this economic surface. In the self-interested quest for more hours, lawyers are naturally more inclined to play billable Pac-man all day (pursuing bite-sized chunks of work to minimally qualify for billing) which limits the deep flow-state thinking that both produces better results and provides work satisfaction.
Grove addresses this problem by prioritizing value-based pricing and aligned incentives, shifting legal services from a zero-sum game (where one party wins at the other’s expense) to a win-win, fostering long-term partnerships where trust flourishes.
Our pricing is guided by three core principles:
Delivering to our clients high-value counsel that
Always seeks to optimize client service, and
Ensures cost predictability.
We recognize that legal services are not one-size-fits-all, and our approach ensures that each client receives tailored solutions that fit their unique business needs, risk profile, and objectives.
Our fee arrangements depend on the nature of the work, the composition of the team handling the work, the projected duration of the work, and our history with the client. In all arrangements, our goal is to develop and maintain long-term trust. Grove integrates flexible fee structures that move beyond the traditional billable hour. While we do offer hourly billing when our clients require it, we prioritize alternative fee arrangements (AFAs) such as fixed fees, success-based pricing, and subscription-based models. These structures incentivize quality over quantity, align our interests with those of our clients, and provide predictability in legal costs.
We want our clients to pay for great service, which is reflected in terrific communication, compelling work product, and ultimately, good ideas that perpetuate their success.