News & Analysis as of

Billable Hours

The Death of the Billable Hour: Is Microsoft Ushering in a New Era for Law Firms?

by Exterro, Inc. on

We’ve been hearing it now for a while – that clients are demanding law firms offer more for a lower cost, and one of the tips for reaching this goal is alternative fee agreements, but most people felt this would be a gradual...more

Law Firms and the Billable Hour – The Debate Continues: eDiscovery Trends

by CloudNine on

Over four years ago, I asked the question of whether it’s time to ditch the per hour model for document review. Back then, I referenced an overbilling situation discussed in an article by a law firm that was recently in the...more

What To Do When Your Prospect Objects To Your Fee

by LawVision Group LLC on

Fee objections happen often, but they are not always what they seem. Next time a prospect objects to your firm’s fees, think about the following questions: Is it real? Is it time? Is there something else? Is that all?...more

10 Trends Law Firm CMOs See Happening Right Now

by LawVision Group LLC on

In a recent roundtable meeting of CMOs from mid-sized regional firms, participants identified 10 trends they are seeing in 2017....more

Law Firm Sues Insurer Over $700K in Lost Billings Due to Ransomware Attack: eDiscovery Trends

by CloudNine on

A small Rhode Island law firm has filed a lawsuit against its insurance company after the insurer refused to pay $700,000 in lost billings following a ransomware attack on the firm that locked down the firm’s computer files...more

Killing the Golden Law Firm Goose

by Hayse LLC on

The general approach to law firm billing rate increases continues to baffle me. The overall demand for law firm services has been flat to declining for more than a decade while the quantity of licensed lawyers continues to...more

Q2 – The Bellwether of Annual Performance for Law Firms

by LawVision Group LLC on

Last month I posed the question, “What if you didn’t hit budget in 2016?” This month, I want to look forward into 2017 and offer some prospective advice to help leadership teams either hit budget or optimally manage...more

Partner and Firm Profitability in 3 Steps: Plan, Monitor, Bill (Part 2)

by Prosperoware on

Inextricable - In part 1 of this series, we looked at macroeconomic trends in the legal market, including: flat-to-negative demand growth; rapid growth of the alternative legal service provider (ALSP) market as a result...more

6,905 Billable Hours for Attorney Review May Not Be Billable if the Reviewer Isn’t Actually an Attorney: eDiscovery News

by CloudNine on

A contract lawyer for a Pennsylvania plaintiffs’ firm clocked 6,905 hours of work on a shareholder lawsuit against former executives and directors of Sprint Corp. related to its 2005 merger with Nextel.  One problem, however:...more

The Growing Importance of Data Analytics for Corporate Legal Departments

This month, the Coalition of Technology Resources for Lawyers (“CTRL”) released the results of its survey regarding the use of analytics by corporate legal departments. Data analytics is the use of specialized data systems or...more

Partner and Firm Profitability in 3 Steps: Plan, Monitor, Bill (Part 1)

by Prosperoware on

Let’s Acknowledge It’s Permanent - The legal industry is confronted with tremendous challenges for 2017. It’s been 10 years since the great recession, and one thing we can say with certainty is that the change in our...more

On the Perils of Compensation, Pricing and Future Business Strategies

by Prosperoware on

The earliest known written legal code, Ur-Nammu’s Code, has been attributed to have originated in 2050 B.C., though its authorship is still up for grabs (some attributing that to his son, Shugli). Shortly after that, law...more

The “Unbillable” Hour – How to Manage It

by McManis Faulkner on

Measuring time in six minute increments quickly becomes second nature for attorneys in private practice. We track every minute spent on a client’s file and manage the billable hour to provide the most efficient and effective...more

Little By Little, In-House Legal Departments Progress Towards Metrics

by JD Supra Perspectives on

Many attorneys come to in-house roles to avoid having to track time ever again. Perhaps it’s time to rethink our aversion to the billable hour....more

What is the impact of longer hours on lawyer satisfaction?

by William Henderson on

Every lawyer, law professor, law student, and legal commentator has an opinion on this question. Today we can test our views against actual data. ...more

Are You Wasting Nonbillable Time?

by Adrian Dayton on

Everybody has the same number of hours in each day, yet some people seem to accomplish substantially more than others. What is the difference between these high performers and everybody else? Originally published in...more

It’s All in the Game: Managing Partners Come to Grips with “Gamification”

by Pamela Woldow on

Many managing partners tell us they are struggling to get their arms around new tools and techniques for driving more efficiency and cost-effectiveness into legal service delivery. Firms are seeing more and more RFPs in which...more

You Can't Always Get What You Want: D. Mass. Awards Small Fraction Of Requested Attorneys' Fees In ZIP Code Class Settlement

by Pierce Atwood LLP on

In an opinion reminiscent of the famous Rolling Stones song, Judge Richard Stearns on December 26th awarded plaintiffs' class counsel fees of $75,959.00 of a requested amount of $450,000 for work performed in connection with...more

Kaye Scholer’s clients need to check their bills

by Valorem Law Group LLC on

Another law firm has motivated its associates to spend more time rather than less getting their work done. Kaye Scholer is paying upwards of $20,000 in additional bonuses to those who exceed 2,200 hours per year. The firm’s...more

Sunk Costs Revisted

by LeClairRyan on

In our last post, we discussed the fallacy of logic caused by concentrating on sunk costs in the context of the legal industry as a whole. In this post, I will discuss how this fallacy plays into the management of value-based...more

The Problems with the Legal Industry

by Ary Rosenbaum on

I love being a lawyer and I wanted to be one since Mrs. Rosenblum’s third grade class. I love being a lawyer a lot more since I started my own practice more than 3 years ago and one of the reasons is because by being on my...more

Adapting to the New Normal: Fleeing Pain and Pursuing Happiness

by Timothy Corcoran on

A common scenario confronts my law firm clients, prompting them to call me: “We are increasingly required to adopt alternative fee arrangements for clients who prefer low cost over quality, and we struggle with whether...more

How the billable hour hurts women

by Valorem Law Group LLC on

Nicole Auerbach, partner at Valorem Law Group, discusses the pay disparity between women and men equity partners in law firms. Although women make up more than half of law school graduates (since the early 1990's) the...more

How to Say NO (and Not Tick People Off)

by TopLawyerCoach.com on

Where does your non-billable time go? Committee work? Administrative tasks? How about to those random requests that fall on your desk? Think about it. What if you could turn that non-billable time into a...more

Zimmermann: Up to 20% of AmLaw 200 "Badly Weakened"

by Bloomberg Law on

April 25 (Bloomberg Law) -- A substantial percentage of the nation's largest law firms enter the sixth year of the Great Recession "badly weakened," and more firms are expected to fail, according to law firm consultant Kent...more

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