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LSDefine

Simple English definitions for legal terms

lodestar

Read a random definition: for value received

A quick definition of lodestar:

Term: LODESTAR

Definition: A lodestar is a star that guides people in the right direction. In law, it refers to a reasonable amount of money that a lawyer should be paid for their work on a case. This amount is calculated by looking at how many hours the lawyer worked and how much they usually charge per hour. Other factors, like how difficult the case was, are also considered.

A more thorough explanation:

Definition: A lodestar is a guiding star or an inspiration that serves as a model. In legal terms, it refers to a reasonable amount of attorney's fees in a given case, calculated by multiplying a reasonable number of hours worked by the prevailing hourly rate in the community for similar work, and often considering additional factors such as the degree of skill and difficulty involved in the case, the degree of its urgency, its novelty, and the like.

Example 1: The North Star is a lodestar for sailors, guiding them on their journeys across the sea.

Example 2: In a legal case, the attorney's fees may be calculated using the lodestar method. For instance, if an attorney worked 10 hours on a case and the prevailing hourly rate in the community is $200, the lodestar amount would be $2,000.

Example 3: A successful entrepreneur can be a lodestar for aspiring business owners, providing inspiration and guidance on how to achieve success.

These examples illustrate how a lodestar can serve as a guiding force, whether it be for sailors navigating the sea, attorneys calculating fees, or individuals seeking inspiration and guidance in their personal or professional lives.

lodesman | lodge

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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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