Definitions from the Web
Fee Splitting
Description:
Fee splitting refers to the practice of dividing a professional fee between two or more parties, typically among professionals or service providers involved in the same transaction or case. It is often done to ensure fair compensation and incentivize collaboration among professionals in different fields.
Sample Sentences:
- Lawyers engaged in fee splitting must disclose it to their clients to maintain transparency.
- In healthcare, fee splitting between doctors and other medical professionals can promote comprehensive patient care.
- Accountants and financial advisors might engage in fee splitting to offer clients a wider range of specialized services.
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