More Articles & Tips
The Mighty Billable Hour: Is it Preferred in a Downward Economy?
Many clients are seeking an alternative to hourly billing as a way to better manage their legal costs. But before offering any new arrangements, especially in uncertain financial times, law firms must be aware of the risks involved and how to contain them.
When Is a Law Firm Like an Airline? When It “Unbundles”!
Rather than raise the fees for all, airlines are being selective. Just because it’s an extra charge doesn’t make it unreasonable, so long as customers see the reasoning and the value behind it. This is an excellent lesson for law firms facing client pressures to reduce billing rates and fees due to the recession.
Developing Alternatives to the Billable Hour
Choosing the right alternative is ultimately a business matter for both the firm and the client. There is no universal best billing alternative. Client preferences and each firm's operations differ, and each project or case has a multitude of factors that could accommodate these billing options.
From across the web
The art of the flat fee
Five steps to reaching a fixed-fee arrangement with clients.
Value for money
Inside the value-billing process.
The tipping point
Alternative fees : today and tomorrow.
Cost vs. value
Generalcounsel used to speak about value; now, more bare-knuckled, they demand lower costs.
What About Clients?™ The Billable Hour: The Way of the Happy Rich Dinosaur?
My Shingle: Make More With Flat Fees
Firm Kills Billable Hour for First-Year Associates
The National Law Journal, August 20, 2007
Beat the clock
The Boston Globe, October 8, 2007