Understanding Contingent Fee Model

The legal services market is characterised by asymmetry of information that exists ex ante, before signing contract signing a contract between the customer and the lawyer. At least two types of such information asymmetry can be distinguished: the first is manifested in the fact that the client when of the contract, is aware of the possibility of obtaining compensation to a greater extent than the lawyer, the second type of information asymmetry is explained by the fact that a lawyer knows the law than the customer. Continue reading