Monthly Archives: July 2010

What Does No Win No Fee Really Mean?

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No Win No Fee Accident Claims have been around for centuries and there has, in the past, been some controversy surrounding them. Nowadays, that controversy is long buried and the No Win No Fee structure is one that’s advantageous to both the client and the solicitor.

Previously, a No Win No Fee arrangement would be entered into and it meant exactly that. If the lawyer pursuing the No Win No Fee Injury Claim didn’t succeed in the case then the client would not have to pay them anything. However, if the lawyer won, then not only did the client have to pay the standard fees, but in most cases they would also have to pay a ‘success fee’ to the lawyer, which is where the controversy arose. Although it meant that anybody could pursue a lawsuit, regardless of their financial situation, it also meant that people would see any compensation they received dramatically reduced as they then had to pay the lawyer.

This all changed in 2000, when the Access to Justice Act 1999 allowed success fees to be recovered from the losing party. With the standard lawyers fees also able to be recovered from the losing party, there now exists a ‘No Win No Fee, Win No Fee’ agreement. The lawyer agrees not to charge the client if they don’t win, but if they do win it is the losing party that must pay all of the lawyer’s fees. This means that victims can keep 100% of their compensation and has removed the controversy that previously existed in the No Win No Fee field.

So, what does No Win No Fee really mean? Well, it means that whether you win or lose you don’t pay a penny.

Media Sector set to lift

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It has been a turbulent old time for Direct Response Advertising and other elements of the media sector which over the last three years have seen a drop in revenue. Today there seems to be a surprise recovery though on the global advertising markets, having seen for the past three months some positive growth. Some large UK Advertising Agencies have actually boosted their forecasts for industry spending this year by more than 50 per cent and have predicted a further spike in 2012 which can only be good news for an industry that has been suffering.

Drastic falls in advertising have historically been followed by a good rebound approximately three years later, so for example, after the big slump of 1991, spending went up by 6.8 per cent three years later. The same can be said for the dotcom bubble when spending went up 7.4 per cent about three years later.

Whilst the media industry diversifies all the time and opportunities arrive in all manner of new places like online, via mobile phones and even through television programmes with the latest allowance of product placement then the scope for companies to get their products and messages across to consumers is as exciting and innovative as ever. Companies need to lead with their innovations and pave the way against their competitors in what is an incredibly cut throat, competitive industry. Consumers are more demanding than ever and expect great value for money along with well designed, high quality finished products.