First, there are a few practice areas where the old model still reigns, generally those where the courts approve bills rather than a client. You still see bankruptcy conferences where each creditor committee and the trustee bring two partners and three associates -- all billing back to the estate for a total of five figures an hour.
Second, another big change was a series of rule changes and ethics panel decisions which allowed for contingency fees in many areas of the law. Traditionally such arrangements were considered akin to barratry. While most people imagine that contingency fee cases are all small law firms doing personal injury, there are some types of very large cases that are done that way (i.e. qui tam litigation).
A couple of additions:
First, there are a few practice areas where the old model still reigns, generally those where the courts approve bills rather than a client. You still see bankruptcy conferences where each creditor committee and the trustee bring two partners and three associates -- all billing back to the estate for a total of five figures an hour.
Second, another big change was a series of rule changes and ethics panel decisions which allowed for contingency fees in many areas of the law. Traditionally such arrangements were considered akin to barratry. While most people imagine that contingency fee cases are all small law firms doing personal injury, there are some types of very large cases that are done that way (i.e. qui tam litigation).