Changing Legal Fees Through Litigation Budgeting

Law360, New York (September 16, 2009, 12:59 PM EDT) -- Current economic pressures are changing how lawyers are hired and what legal fees their clients pay. At the heart of the changes lies the much maligned billable hour. While reports of the death of the billable hour continue to be greatly exaggerated, the billable hour increasingly has a new companion — litigation budgeting.

Seven years ago the ABA’s Billable Hours Report concluded that the hourly rate of a particular lawyer or law firm is often a poor proxy for the cost over time of that lawyer...
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