An app has been launched that could help lawyers calculate the financial outcomes of litigation.
iCosts Mobile takes estimates of budgeted costs, disbursements and damages, and compares the financial outcomes under various retainer types such as hourly rates, conditional fee agreement, damages based agrement and hybrid conditional fee agreement.
Edward Strickland, director of iCosts, said: “The Legal Services Board, Law Society and costs commentators have warned solicitors about the dangers of miss-selling legal services in the post LASPO world. A transparent discussion is a must, and iCosts provides the metrics for this discussion.”
