AFAs
Reduced hourly rates or flat rates in exchange for commitment to a minimum number of matters or billing volume directed to Venable. This arrangement creates an opportunity for Venable to learn repeat facts, fact-patterns, and types of transactions enabling greater efficiency and economies of scale.
What is Volume Discounts
Bankruptcy & Creditors Rights
Who is Greg Cross
What benchmark tool from Thomson Reuters is commonly used to compare rates across firms?
What is Peer Monitor?
How many offices do we have?
What is 15
This reflects reductions in time entries before a bill is sent
What are write-downs?
A single hourly rate for all Venable timekeepers on a matter or for specified types of matters. This gives clients a greater ability to call on Venable partners more frequently (i.e., less costly to do so) and encourages the firm to staff matters as leanly as possible. This arrangement works well in matters requiring the involvement of mostly senior attorneys, where an effort is made to mitigate the impact of the higher rate levels.
What is Blended Rates
Trademark
What does "rate lock" mean in a multi-year engagement?
What is an agreement to keep rates constant over a set period?
Who do we collaborate most with when we need international assistance?
What is Bird&Bird
Funds received from clients after bills are sent.
What is accounts receivable (AR) collections?
Our invoices are reduced to reflect a discount off the agreed-upon rates for a transaction that fails to close after a defined starting point.
What is Broken Deal Discounts
New York Real Estate
Suzanne St. Pierre
What financial metric is calculated by subtracting costs from collected revenue?
What is profitability?
What is the report we get from Thomson Reuters re rates?
What is Peer Monior
The timing gap between cash going out (expenses) and cash coming in (client payments).
What is the cash conversion cycle?
An agreed-upon monthly fee for Venable services based on defined scope of work (i.e., all work, within scope, is performed without additional billing). Periodic “true-up” discussions are important to ensuring mutual long-term satisfaction.
What is a Retainer
IP LIT- ABC
Marci Ballard
What is the difference between a billed rate and effective rates
What is Effective Rate- is the actual rate collected after discounts, write-downs, and adjustments.
When do 1st year Associates start?
What is Some start in Q4 and the majority start 1/1 of a given year
Compares billed amounts vs collected amounts.
What is collection realization?
Placement of a Venable attorney at the client location, on a full- or part-time basis, with a fixed-fee or fixed-rate, for a specific period. The seconded attorney works within the client’s legal department and is fully integrated into the client’s business and legal teams for the period of secondment. The legal department receives a high quality legal resource, at a discount, without the focus on billable hours.
What is a Secondment
Political Law
Ron Jacobs and Larry Norton
What was our average standard rate increase for EPs in 2025
What is 13%
What is the firm's mascot
What is a Moose
This accounting method recognizes revenue when it is earned and expenses when they are incurred, regardless of when cash is received or paid.
What is accrual based accounting