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Waiting until the end of the month to record your time means adding 23% to the bill. Start billing in real time before your clients (or ethics boards) find this article and start asking questions.
“I do not see much of a future (beyond 2020) for most small firms ….” — Richard Susskind, Tomorrow’s Lawyers
Billing by the hour is an established custom within the legal profession. We always didn’t always do it that way.
As business drops off for big law firms, many are reducing their prices to unsustainable levels to try to keep up with ballooning overhead. Will they survive?
Are alternative fee arrangements merely hourly billing disguised as something else? Are alternative fees appropriate even in unpredictable matters?
How you feel about and respond to lawyer jokes says a lot about you as a person and a lawyer. Hint: If you hate them, keep quiet about it.
Felix Salmon doesn’t think much of hourly rates at big firms: In other words, differences in billable rates are basically an accounting fiction, which is used to come up with a calculable final figure to be presented as the bill, but which do not actually reflect the difference in value between various strata of lawyers. […]
It’s cute that Coffey Burlington partner, Kendall Coffey, thinks getting inexperienced law school grads to work for “[r]ates of between $50 and $125 per hour” will create jobs for the jobless, whose offices will suddenly overflow with business from the “underserved middle class.” He also thinks this will make them rich, since “attorneys working at […]
The willingness of so many lawyers to do pro bono work is admirable, but there is no shame in asking for money in exchange for your time and skill. The tendency of so many people to take pro bono work for granted — to expect it — is what ought to be shameful. If you’re […]