Legal Question in Business Law in New York

Re: lawyer's fees

There are a number of factors to determine a lawyer's hourly rate. These factors include: 1. The character and extent of the services and the nature of the litigation or transaction in which they were rendered; 2. The time required for the work performed; 3. The attorney's reputation in the specialty in which he was engaged; 4. The ability and experience required by the litigation or other matter at hand, and the skill exercised by the attorney in handling the same; 5. The character of the employment, that is, whether regular or casual; 6. The amount of money involved or the value of the property or rights in controversy; 7. The results accomplished by the attorney, that is, the benefit inuring to the client as a result of the services.

7 N.Y. Jur. 2d Attorneys at Law § 195 (2006).

Mike.

Re: lawyer's fees

Mr. Markowitz's answer gives you the official guidelines that attorneys follow in setting fees. He left out that whether a particular lawyer's fees are "necessary and reasonable" is a determination made on a case-by-case basis.

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