ABSTRACT
This chapter discusses the importance of the contingent fee in terms of the frequency of its use by the public and in the cases which come before the courts and administrative agencies. Another measure of the "importance" of the contingent fee is its significance as a source of income to the legal profession. A Columbia University study of accident litigation in New York City in 1957 found that lawyers received an annual income from contingent fees in personal injury claims amounting to at least 77 million dollars. There are a few lawyers who specialize in a particular type of legal work, but typically the lawyer's practice is widely diversified and in large measure depends on the economic characteristics of the area in which the practice is located. The nature of law practice in Ohio was determined by asking lawyers to estimate the percentage of total gross income derived from each of the various types of legal work.
