The attack on the citadel of hourly billing continues unabated. Alternative fee arrangements and value billing are rapidly taking the place of selling hours by the bush-full. But, how do you measure the value in value billing? We certainly know that value is ultimately in the eye of the beholder; after all it is the consumer of legal services which ultimately decides the value of the services rendered and pricing discussions always center on the client’s perceived value. But, what we still lack is a yardstick by which lawyers’ efficiency can be assessed and compared to that of their peers. Well, I think I may have a solution to that problem.
What are your thoughts, comments and suggestions?
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