Law Firms Say Alternative Billing Won't Dent Profits

Law360, New York (June 22, 2010, 5:54 PM EDT) -- The majority of law firm leaders believe nonhourly billing will stick around even after the market fully recovers from the recession, and they don't expect billing changes to hurt profitability, according to a new survey.

More than 75 percent of the law firms that participated in the Altman Weil Flash Survey, which was announced Tuesday, indicated that increased price competition and nonhourly billing will be permanent changes to the legal landscape. Only 27 percent of firms, however, believe those changes will lower profits per partner....
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