Paul Lippe, Founder of Legal OnRamp, writes that despite the recent shift from hourly billing to fixed fees, neither will go away. He argues that changing from one method to the other is not transformational in and of itself, but a simply change in measure. It’s what attorneys and clients do under each measurement structure that determines whether value is created.
September 5, 2009
September 3, 2009
Why the Billable Hour Won’t Go Away
The August 24th Wall Street Journal article, ‘Billable Hour’ Under Attack, discusses how some large corporations, including Pfizer, Cisco Systems, and American Express, have forced their outside counsel to eschew the billable hour in favor of fixed fees. While these companies are expected to save between 15%-20% on fees and expenses, trust me when I say that the billable hour isn’t going anywhere anytime soon. (Read More)