The average contingency rate falls between 20-40%, with most lawyers charging around 33% to 35% of the total amount recovered in a case. The exact percentage can vary depending on the complexity of the case, the lawyer's experience, and the stage at which the case is resolved.
For example, if you sell your apples from your orchard when the trees are yet to produce apples, the apples are a contingent good.
What Is a Contingency? A contingency is a potential occurrence of a negative event in the future, such as an economic recession, natural disaster, fraudulent activity, terrorist attack, or a pandemic.
Rule 1.8 - Conflict of Interest: Current Clients: Specific Rules (a) A lawyer shall not enter into a business transaction with a client or knowingly acquire an ownership, possessory, security or other pecuniary interest adverse to a client unless: (1) the transaction and terms on which the lawyer acquires the interest ...
Cond. 1.7. Rule 1.7 - Conflict of Interest: Current Clients (a) Except as provided in paragraph (b), a lawyer shall not represent a client if the representation involves a concurrent conflict of interest.
ER 5.5. Unauthorized Practice of Law; Multijurisdictional Practice of Law. (a) A lawyer shall not practice law in a jurisdiction in violation of the regulation of the legal profession in that jurisdiction, or assist another in doing so.
Rule ER 1.4 - Effective until 1/1/2025 Communication (a) A lawyer shall: (1) promptly inform the client of any decision or circumstance with respect to which the client's informed consent, as defined in ER 1.0(e), is required by these Rules; (2) reasonably consult with the client about the means by which the client's ...