Major Law Firms Reduce Rates

Posted 10:45 AM by Michael Fox

One need not look at the date of posting to know what this is, Major Law Firms Reduce Rates, courtesy of The Wired GC. But check it out for a good laugh.

For a somewhat more serious review of the very related subject, the future of the billable hour, check out this discussion at Adam Smith, Esquire. As one who has been bemoaning the billable hour for most of my 30 years of recording them, I still see all the reasons why it does not seem to make sense, but am now resigned to the fact that the tide will not turn until long after I have turned in my last timesheet.

Comments:

The real prank is perpetuating the notion (1) that the problem is the hourly billing system, rather than the abuse of hourly billing; and (2) that clients will be more satisfied with their fees and lawyers more satisfied with their lifestyles, with a switch from hourly billing, even if it is not accompanied by a reduction in law firm income and profit targets. My piece chronomentrophobia explores these issues.

# posted by

Anonymous : 10:44 PM