“Alternative” Pricing in a Billable Hour World


As more and more attorneys migrate from their unemployed status to solo or small firm practices, and law clients clamor that they just won’t pay it anymore, the business of law has become yet another subject they didn’t teach you in law school. Suddenly, new and newly unemployed attorneys are faced not just with acquiring the skills of the practice, but also with the economic realities of maintaining a successful business. And let’s face it, being trained to think like a lawyer simply does not intersect with the attributes of a successful business person trained to forecast market vagaries and position themselves to respond accordingly.

Among many of those vagaries is the advent of a market demanding changes in lawyer’s traditional billing structure, commonly known as the billable hour. For the past 60 years, the only variation to the billable hour was a contingency fee arrangement, employed almost exclusively in personal injury cases. Now, clients are refusing to agree to open-ended hourly billing at astronomical rates (can you imagine?). Even in the face of this uproar, big law has made it clear they intent to increase their hourly fees, leading to what Jordan Furlong calls The Boutique Exodus....

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Donna Seyle - Law Practice Strategy | Attorney Advertising

Written by:


Donna Seyle - Law Practice Strategy on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.