The Economist: Killable Hour
The Economist magazine has a short writeup on the billable hour’s demise, and the growing use of fixed fee billing.
One of the more interesting statements noted, “If the billable hour does perish, it will be at the hands of the clients, rather than the private-practice lawyers themselves.”
This may be partially true, but tends to paint law firms in a poor light. The demand for alternative billing could come from clients, and it could also come from law firms. There are many firms experimenting with alternate pricing models, and have been for quite some time. Where the shakeout . . . [more]
